Restake Finance DAO

Restake Finance - A New Era of Yield

The first modular liquid restaking protocol, powered by EigenLayer.

Join us:

[Restake Finance DAO @resttakefi]

We are thrilled to announce that $RSTK Staking and Revenue share is now Live.

After you stake $RSTK, You will receive share of the protocol's revenue.

Stake here: https://t.co/AhDPof1GJE

[Dewhales @DewhalesCapital]

Restake Finance Explained: New Level on Top of Restaking

🔵 Introduction 🔵
In 2023, alongside the active development of LSDFi with the introduction of new primitives and protocols (as detailed in a separate article), a new direction emerged for working with Liquid Staking Tokens (Derivatives) - restaking. This concept was introduced thanks to the EigenLayer protocol, and this direction is evolving at a rapid pace, with new projects actively emerging on top of it. @restakefi is a representative of the ecosystem growing around @eigencloud and LRT.

Before delving into Restake Finance and understanding how it operates, let's first grasp the basics of what EigenLayer represents and how restaking, which stimulated the emergence of Restake Finance, works.

🔵 What is EigenLayer 🔵
At a surface level, the idea of EigenLayer (EL) is quite straightforward: a user stakes their ETH to secure the network in a hypothetical Lido/Rocket Pool or another LSD protocol, receiving LST in return. Subsequently, they can deposit this LST into EigenLayer to yield additional returns. But where does this yield come from?

The key is that EL is not merely a financial protocol issuing derivatives; it is an applied protocol essentially creating a new layer of validators on top of Ethereum. It enables the utilization of LST similarly to how ETH is used on nodes for staking and network security. On the other hand, for validators (node operators) and clients (other projects), EigenLayer offers what is referred to as Actively Validated Services (AVS). In this scenario, security is ensured by the Ethereum chain with legitimate LST.

All AVS (or modules, applications) pay a commission to the EL in their tokens, which is then distributed among the restakers of specific modules.

Since its launch in April 2023, EigenLayer has carved out a significant niche within LSDFi, capturing a substantial volume of LST ($726 million as of January 11, 2023), despite the current storage capacity of EL being rigidly limited:

🔵 Why is Restake Finance needed? 🔵
In broad terms, RestakeFi enables users to engage in restaking within EigenLayer through its DApp. Similar to how LSD protocols once provided a liquid wrapper for staked ETH, RestakeFi offers users a liquid primitive for restaked funds - rsETH. With rsETH, users maintain liquidity and can earn rewards from EL. Overall, the concept of RestakeFi is quite straightforward:

Currently, Restake Finance is launched on the testnet and supports only stETH from Lido, which holds a leading position in the LST market (71.2% considering wstETH). However, there are plans to add support for other LST in the future. This is a logical decision as stETH represents more than half of Eigen's total value locked (TVL) ($479 million out of $726 million).

@restakefi will operate based on the Restake Finance DAO, ensuring the project's commitment to the decentralized nature and aligning further development with the interests of stakeholders in the protocol. The DAO will be governed using our utility and governance token — RSTK. Another interesting aspect is that users restaking funds through RestakeFi can choose one or several modules (AVS) to receive desired returns in specific tokens.

🔵 rsETH 🔵
As mentioned earlier, rsETH is a liquid token, LRT, that users receive from RestakeFi in exchange for their LST. Initially, rsETH is presented on the Ethereum network, but the team plans to make it an omnichain token to enhance its usability and applicability across a greater number of protocols and strategies.

Unlike most LSTs, rewards accumulation in rsETH will not be based on the appreciation of value as a reward-bearing token but through a rebase mechanism tied to the stETH exchange rate. The supply of rstETH will grow in line with the updated balance of Ether in the Ethereum beacon chain. Rebase will be performed based on validator performance, executed daily, and the number of tokens in users' wallets will increase depending on the validator's performance. The price peg of rsETH is regulated through arbitrage mechanisms.

🔵 Restaking Finance token: RSTK 🔵
RSTK is the token of the RestakeFi ecosystem and the foundation of the Restake DAO. It is anticipated that RSTK holders will have the ability to govern the protocol, enhance their returns through token staking (both in terms of a share of protocol revenues and native EigenLayer returns), and share in the protocol's earnings.

Restake Finance will impose a fixed fee of 10% on EigenLayer rewards. This fee will be evenly split: 5% will go to our stakers, and the remaining 5% will be directed to their treasury to cover operational expenses.

If a user decides to stake RSTK, they receive sRSTK, which can be exchanged back for RSTK after 45 days from the request date. During this period, users will earn income and have the opportunity to participate in voting.

🔵 Conclusion 🔵
In 2023, we witnessed a rapid development in LSDFi, with the emergence of numerous diverse projects in the ecosystem. The introduction of EigenLayer further complicated the LSDFi landscape, bringing new ways of utilizing Liquid Staking Tokens (LST) with practical applications to ensure the economic security of new projects, along with the additional incentive for LST owners. The emergence of protocols operating on top of EigenLayer, providing users with liquid assets in exchange for LST, analogous to how LSD protocols work with ETH, was only a matter of time.

@restakefi is at the forefront of this movement, offering users an already launched product, and they show no intention of slowing down, continuing the further development of their offering. Due to the potential for additional income beyond the existing returns from ETH, it is natural for people to restake their ETH. Restake Finance aims to facilitate this process, allowing users to seamlessly restake their ETH and capitalize on the opportunity for additional earnings.

📖 Read the full article: https://t.co/3843h8A4I5

💡 For insightful updates & more, connect with us:
• Twitter: https://t.co/CGrGlas5DK
• DeBank: https://t.co/ZphYaoOJvY

[Restake Finance DAO @restakefi]

Liquid Restaking.

[Restake Finance DAO @restakefi]

RSTK: The Natural Next Step

We wanted to share an update on our ongoing audit process. We're currently in the thick of auditing with @OpenZeppelin, examining our smart contracts to ensure they meet the highest standards of security and functionality. Progress has been steady, though the holiday season has naturally slowed us down a bit. We're committed to taking the time needed to get this right, focusing on every detail to guarantee the safety and reliability of our platform.

Your patience and understanding during this period mean a lot to us. As we finalise this crucial phase, we want to take a step back to evaluate the broader landscape.

https://t.co/TRuSx4buRA

[Restake Finance DAO @restakefi]

We welcome all the new restakers!

If you aren't already familiar with the protocol, you can find educational threads below

[Restake Finance DAO @restakefi]

The potential of the restaking sector

[Restake Finance DAO @restakefi]

EigenLayer szn is just getting started. RSTK aims to expand the @eigencloud ecosystem.

We're building an intuitive and innovative experience for our community. Focusing on $RSTK and maximising $rstETH utility and adoption.

A multitude of value-add partnerships with cornerstone DeFi protocols are in the works. We've also begun omnichain exploration, pushing beyond the realm of Ethereum mainnet.

We are fully aligned with EL's vision, and will be live on mainnet before the next restaking cap increase.

[Restake Finance DAO @restakefi]

It's happening

Claim link will be shared on Discord shortly and trading will be live on UniV2 and UniV3

[Restake Finance DAO @restakefi]

Quality attracts quality 🤝 @OpenZeppelin

Mainnet v1 is ongoing audit. Final report to be soon published.

[Restake Finance DAO @restakefi]

We're excited to announce @everstake_pool as a strategic partner & investor in Restake Finance

Everstake is helping us innovate restaking - as an official operator on @eigencloud and a leading institutional validator

[Fjord Foundry @FjordFoundry]

The @restakefi LBP is now live!

RestakeFi offers a modular liquid restaking protocol, allowing you to earn @eigencloud restaking rewards while receiving a liquid derivative token in exchange for your locked principal.

https://t.co/xbschVLIXA

[Restake Finance DAO @restakefi]

RSTK Public Sale is LIVE

T-72 hours to be a primary market investor in the future of restaking on EigenLayer

The time is now. Are you ready to Restake?

Curated by @FjordFoundry : https://t.co/zdZbY9dELy

[Restake Finance DAO @restakefi]

RSTK Public Sale Announcement

The wait is finally over. We are excited to announce our fair launch, an LBP curated by @FjordFoundry

It's happening. Are you ready to Restake?

https://t.co/JFGZRNL2Ms

[Restake Finance DAO @restakefi]

Are you ready to Restake? We're getting closer to EigenLayer caps and to our launch!

Tokenomics Announcement: A Comprehensive Guide
https://t.co/TlehahLumT

[EigenCloud @eigencloud]

🚀 Thread: Exciting Expansion at EigenLayer! 🌐

1️⃣ Major News: EigenLayer is adding 6 new LSTs and increasing restaking caps! Get ready for enhanced restaking opportunities in the EigenLayer ecosystem.

https://t.co/L60aKt6igL

[Restake Finance DAO @restakefi]

You are closer to maximised value accrual than you think.

[Davos | Stablecoin Protocol @Davos_Protocol]

@Davos_Protocol Welcomes Liquid Restaking Tokens (LRTs) 🤝

🗞️ In our latest article, we take a close look at restaking, & discuss why we have set our sights to be the first stablecoin platform to venture into #LRTFi.

And what will $DGT's role be in this?

Key takeaways from article 👇

• Restaking involves pledging your staked ETH or ETH liquid staking tokens (LSTs) into @eigencloud smart contracts.

• Restaking ties up investors' capital, thus the creation of liquid restaking solutions.

• Davos Protocol will enable borrowing using LRTs as collateral.

• The soon-to-happen introduction of the DGT token by Davos Protocol promises to bring yet another set of opportunities for platform users and act as a TVL boost for protocols integrated within Davos Protocol.

Read the full article here:
🔗 https://t.co/KomDUfmkX4