Restaking Sector Speeds Up Amid Miner Surrender
Singapore
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July 08, 2024 12:28 PM Eastern Daylight Time
HTX's Liquid Restaking event has performed well since its launch, especially in earnings. According to the platform data, the number of the event participants has reached over 100,000 and the APYs hit up to 88%. Additionally, the active assets engaged in the event are steadily growing. It is reported that the upcoming airdrops from hot projects like zkLink and EigenLayer have the potential to reach an APY of over 100%.
In the aftermath of the late Bitcoin halving event on April 19, where the block reward for mining a new Bitcoin was cut in half, Bitcoin miners have begun to feel pressure and surrender. They may shut down underperforming equipment and start selling Bitcoin to hedge against risks. This traditionally signals that the market has bottomed out.
As such, the restaking sector, one of the hottest in the past half-year, is now in its prime. The airdrops of projects like BounceBit, ETHFI, and zkLink boast a market buzz.
Restaking Ignites New DeFi Possibilities
The past six months have seen restaking projects blossoming, with more than $20 billion assets engaged. This sector has attracted a wide group of builders, including renowned institutions like the Ethereum Foundation, Polychain Capital, ABCDE Capital, major platforms like HTX, Binance, and OKX, as well as other tycoons.
Compared to traditional staking, restaking allows users to re-stake their staked assets to generate extra earnings. This innovative model involves using smart contacts to ensure that the original staking and restaking are transparent and secure.
The emergence of restaking boasts a far-reaching, positive impact on the cryptocurrency market. Firstly, it provides crypto holders with more earning opportunities and boosts their participation in the market. Secondly, the multi-layered staking mechanism enhances the overall security and stability of blockchain networks. Additionally, restaking has catalyzed the emergence of more innovative projects and applications, further driving the development of the cryptocurrency ecosystem.
Strengths of HTX's Liquid Restaking: On-chain Airdrops, No Lockups, and Strict Risk Management
According to the previous report, HTX, the world-leading exchange, has paid close attention to the restaking projects and accordingly increased its Liquid Restaking's quota to over $150 million. Recently, it introduced a new version of the event, featuring a clearer reward display and automatic update from LRS points to r-points.
With no complex on-chain operations and no nail-biting project selection, the event sets itself apart by more advantages, including:
● Professional Team: Restaking projects engaged in the event are cherry-picked by the top-notch investment research team across multiple dimensions, such as security audits, on-chain TVL, and team composition.
● High Security: HTX adopts various security measures, including multi-signature and cold wallets, to keep users' assets safeguarded.
● Extreme User Experience: The event offers a concise interface, zero entry requirements, no lockups, and one-click operation. The process requires no manual on-chain operations.
● On-chain Airdrops: Automatic restaking adjustments get your assets engaged in multiple projects simultaneously, maximizing your earnings.
HTX is presenting updates on its Liquid Restaking event. Starting on July 2, 2024, the redemption feature is available for r-BB (r-BounceBit) and the daily r-ETHFI giveaway is doubled. Let's look at the update details as follows:
1. r-BB redemption opens: July 2, 2024
2. Doubling Daily r-ETHFI Giveaway: Daily r-ETHFI points will be doubled from 50,000 r-ETHFI to 100,000 r-ETHFI. The redemption rate remains unchanged.
3. r-ETHFI Boost Period: July 2 - July 16, 2024. Please stay tuned for more boosts.
Moreover, HTX's Liquid Restaking will continuously expand its business by increasing the event quota and introducing new premium projects based on event participation to help participants earn more than on-chain retaking.
Liquid Restaking is a CEX-based airdrop event launched by HTX. It allows users to effortlessly enjoy popular on-chain airdrops for free, with no entry barriers. Participation is simple, but the opportunity is lucrative, as the restaking space boasts a market cap of tens of billions of dollars. It's easy to participate with a single click on the event page. All you need to do is open your HTX app, find Earn, and go to the Liquid Restaking page. Then you can just wait and receive juicy restaking rewards.
About HTX
Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3.
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