Restaking Airdrop and Ecosystem Guide: How To Be Eligible | BitPinas

In our discussion about liquidity protocols, it is noted that to be able to provide liquidity to liquidity pools, which empowers a liquidity protocol or a DEX, liquidity providers are needed. 

Liquidity providers are individuals who provide tokens to a smart contract that is associated with a liquidity pool. This process is often called staking.

And after these liquidity providers staked their tokens, they will receive a liquid counterpart of that token, representing their staked assets. The transaction fees paid by the pool and DEX users go to the liquidity providers. Most protocols also reward liquidity providers depending on how long users stake their tokens.

(Also check out: 10 Potential Crypto Airdrops 2024 to Watch Out for in 2024)

Read our article about potential airdrops here:

Introducing Restaking: Staking The Staked

Restaking is the process of staking the liquid tokens obtained after staking a token. Technically, a liquidity provider will deposit their liquid tokens to the smart contract of a restaking protocol. 

It could be considered as hitting three birds with one stone (or token?), as a staked token can provide validation to the network, the restaked liquid token can be used to provide security to the protocol on top of that network, and while the user’s tokens are staked and restaked, multiple rewards can be earned. 

It is because these restaking protocols give rewards to users who will restake liquid tokens, normally depending on the duration that the liquid token has been staked. 

But these rewards are often liquid tokens only, and it could be a good idea if they launch their own tokens for the rewards system and pay other network fees. 

And once they will *cross-fingers* launch their own tokens, massive airdrops will surely be rewarded to those who have been restaking their tokens on these platforms. 

Restaking Protocols With No Tokens Yet

Eigenlayer

Eigenlayer (https://www.eigenlayer.xyz/) is one of the protocols that introduced restaking. It is a set of smart contracts that allows consensus layer $ETH stakers to opt in to validating new software modules built on top of the Ethereum ecosystem.

Read our guide about Eigenlayer’s potential airdrop here: Eigenlayer Airdrop and Restaking 101: How to be Eligible

Etherfi

Etherfi (https://www.ether.fi/) is another Ethereum-based restaking protocol, intending to “bolster Ethereum’s decentralization by simplifying non-custodial staking.”

Swell

Swell (https://www.swellnetwork.io/) is a non-custodial liquid staking protocol that claims to deliver the world’s best liquid staking experience, simplify access to DeFi, and secure the future of Ethereum.

Kelp DAO

Kelp DAO (https://kelpdao.xyz/) is a multichain liquid staking platform. In its official documentation, the developers explained that their team is focused on building Liquid Restaking Solutions for public blockchain networks. 

Renzo

Renzo Protocol (https://www.renzoprotocol.com/) is a Liquid Restaking Token and Strategy Manager for EigenLayer. It calls itself as the interface to the EigenLayer ecosystem for securing Actively Validated Services (AVSs) and offering a higher yield than ETH staking.

Stader

Stader (https://www.staderlabs.com/) is a non-custodial smart contract-based liquid staking platform that seeks to help users, especially beginners for staking, earn staking rewards while also accessing DeFi opportunities conveniently.

Puffer Finance 

Puffer Finance (https://www.puffer.fi/) aims to “fortify Ethereum’s heart.” To be able to reach this goal, the developers explained that Puffer Finance amplifies nodes’ capital efficiency through a reduced bond requirement.

This article is published on BitPinas: Restaking Airdrop and Ecosystem Guide: How To Be Eligible

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