learned

➪ ReStaking is an innovative Ethereum protocol first proposed by Eigenlayer founder Sreeram Kannan. The core mechanism of the re-pledge protocol is based on the unbreakable security of Ethereum, which allows the ETH that has been pledged on Ethereum to be pledged again on other consensus protocols. One pledge cost can reap the pledge benefits of multiple ecosystems. ▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰ 1. Problems to be solved 1️⃣ Improving capital efficiency: traditional quality staking mechanism usually Assets are required to be locked to ensure network security. ReStaking allows pledgers to pledge pledged assets to other blockchains or protocols again, thereby achieving multiple utilization of the same asset and improving the efficiency of capital use 2️⃣ Increase income: Through ReStaking, pledgers can benefit from multiple pledge protocols Obtain rewards, increasing the earning potential of pledged assets 3️⃣ Promote decentralization: The re-pledge protocol encourages more participants to participate in the maintenance of the network by allowing pledgers to re-pledge assets to other blockchains. In the future, it will help improve the security and decentralization of Ethereum, and enhance the stability and security of the entire ecosystem 4️⃣ Flexible customizability: ReStaking provides more flexibility and customizability, allowing stakers to Choose different re-pledge strategies according to your own risk preference and return goals ▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰ 2. The concise principle of re-pledge. Take Lido, the leader of LSD (liquidity staking), as an example. When you pledge 1 ETH on Lido, you will get 1 stETH token. stETH can be used in the mutual trust Defi ecosystem, such as using Ethereum. Use it like coins. Restaking, as an extension of the LSD narrative, takes this feature to the extreme. 💡 For example: 1️⃣ You pledge one $ETH in Lido and get one stETH2️⃣. Go to another re-pledge agreement that recognizes stETH and get one aaETH3️⃣ by staking. Then go to another re-pledge agreement that recognizes aaETH and get one after staking. bbETH... By analogy, by staking one ETH repeatedly, you not only get the staking income of the Ethereum main network, but also the staking income of multiple ecosystems. This is the so-called "one fish eats more" 🤩✨ Specific re-pledge agreement , such as Eigenlayer, there will definitely be more complex mechanisms to ensure the stable operation of this set of logic, but the underlying basic principle is roughly the same. ▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰ 3. Risks 1️⃣ Smart contract risks: ReStaking usually through smart Contract implementation, if there are loopholes or design flaws in the contract, it may be hacked and cause asset losses. 2️⃣ Liquidity risk: In ReStaking, the pledged assets may be locked for a period of time, which may lead to insufficient liquidity and prevent the stakers from quickly withdrawing their assets when needed. 3️⃣ Node delegation risk: If a pledger entrusts assets to unreliable or poorly performing nodes or operators, due to the existence of a penalty mechanism, it may result in reduced income or asset losses. ▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰ 4. Re-pledge project pick1️⃣ EigenLayer re-pledge Betting on the concept leader is also re-pledge The proposer of the concept, a16z participated in the investment, and has now completed US$100 million in financing, providing basic support for other re-pledge protocols, and in-depth cooperation with many second-tier projects such as Altlayer 2️⃣ Puffer is one of the representative projects of the Ethereum liquid re-pledge trend , Puffer allows you to introduce puffETh into EigenLayer, earn points, and obtain AVS verification income. The current TVL exceeds 1 billion US dollars. 3️⃣ StakeStone is a full-chain staking protocol that silently provides support behind Manta. It positions itself as the "safest ETH steward" and promises to configure the safest re-pledge strategy. It has also reached cooperation with EigenLayer, allowing you to mortgage $stone to EigenLayer to earn points. . ▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰▰➪ The re-pledge protocol proposes a method that is more direct and efficient than DeFi lending. of Although the benefits of using this method to obtain multiple returns are obvious, this approach, which looks like a matryoshka doll, is essentially an act of increasing leverage.💡 There is a very interesting saying: the bull market is the process of continuously increasing leverage in the entire market, while the bear market is the process of constantly clearing leverage. The endless cycle of increasing leverage and clearing leverage drives the rise and fall of each bull market and bear market. The re-pledge agreement is just a variant of the leverage method in this bull market. Now is the early stage of the bull market, so there is nothing wrong with increasing leverage. Since bubbles are unavoidable, it is better to embrace the bubble. ✨ If you have any opinions, you are welcome to discuss them in the comment area. If you think they are good, you can also give Pump a like and follow 💖#restaking #EigenLayer #puffer #ALT $ALT $BTC