After the success of Ethereum’s liquid staking token (LST), the next trend is coming to crypto’s number two thanks to EigenLayer: the liquid restaking tokens (LRT). Because, as with staking, Ether that is deposited into EigenLayer is illiquid. Protocols like ether.fi or KelpDAO offer a solution here with their LRTs. By depositing in this way, users receive an ETH derivative that represents their entitlement to the restaking return and can be used on other DeFi platforms.
Anyone who uses KelpDAO or ether.fi was also able to circumvent EigenLayer’s previous deposit limits, as the respective projects forward deposited coins to EigenLayer. Users of these protocols can then not only increase their chances of receiving the EigenLayer airdrop, but also maximize their chances of receiving airdrops from KelpDAO or ether.fi. According to this finding, the TVL of the LRT protocols increased suddenly. For example, ether.fi’s TVL increased by almost 400 percent in the past month alone.
AltLayer: The first of many airdrops
As one of the first projects to use EigenLayer, Rollup-as-a-Service (RaaS) provider AltLayer launched a token airdrop on January 25th. This is indicative of what awaits Staker on EigenLayer in the coming months. A points system based on the own layer serves as a measure of a user’s participation. For each ETH deposited, users earn one point per hour. With 720 “Restaked Points” you were already qualified to receive ALT tokens, as the following chart shows. Around 13 percent of the total airdrop went to EigenLayer stakers. It may not be the last airdrop they receive.
You can find everything else about the restaking hype and current figures, data and facts about the ecosystem in the new BTC-ECHO Ethereum Report.
This might also interest you