HTX’s Liquid Restaking Will Debut! Get Your Slot in $50 Million Staking Quota to Reap Rewards

Feb 21, 2024 6 min read
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As investors flock to seize the opportunity for the initial airdrops, funds are pouring into the following premium projects to secure the entry points for the airdrops:

EigenLayer, a trending Ethereum restaking project with TVL of over $7 billion.

Puffer, a trending Ethereum restaking project with TVL of over $1 billion.

Merlin Chain, a Bitcoin Layer 2 solution with TVL of over $1.5 billion.

BounceBit, a Bitcoin staking chain with TVL of over $0.45 billion.

However, engaging in on-chain staking involves complex operations. How can ordinary cryptocurrency investors benefit from this new lucrative narrative?

Easily Join HTX’s Liquid Restaking with Spot Assets to Receive Free Initial Airdrops from Leading Projects

According to an official announcement, HTX, the cryptocurrency exchange, is set to launch its new feature, Liquid Restaking, on February 29, 2024, offering participants amazing rewards. To qualify for the rewards, simply hold BTC, ETH, USDT, TRX, or HTX assets in your Spot account on the HTX platform and register for Liquid Restaking. No on-chain operations are required to receive rewards. Moreover, you can freely engage in trading, depositing, or withdrawing these spot assets while simultaneously earning rewards from Liquid Restaking. All participants will share in the rewards generated by the platform’s $50 million staking quota, comprising 250 BTC, 2,500 ETH, 25,000,000 USDT, 25,000,000 TRX, and 1,500,000,000,000 HTX. Rewards will be distributed in points, and early participation ensures greater rewards.

Rewards you can expect to garner:

– Initial airdrop from EigenLayer.

– Initial airdrop from Puffer.

– Initial airdrop from Merlin Chain.

– Initial airdrop from BounceBit.

– Crypto rewards, such as ETH, USDT, HTX, and TRX.

HTX guarantees that during this event, regardless of any potential on-chain risks, user assets will always be safeguarded.

How to participate?

Take two simple steps to enroll in this amazing event: 1. Before February 20, 2024, at 09:00 (UTC), fund your HTX account and hold BTC, ETH, USDT, or other applicable assets in your Spot account to get ready for this event. 2. On February 29, register for this event by navigating to your HTX app > Assets > Spot > Liquid Restaking or Earn > Liquid Restaking. Read the official announcement for details: https://www.htx.com/support/en-us/detail/104962650981126

Why the Excitement around Restaking with Soaring TVL?

The staking and restaking ecosystems have gradually taken shape as a big trend in the upcoming crypto bull run. Meanwhile, teams behind EigenLayer and Puffer boasting many core members of the Ethereum Foundation and major participants, such as top VCs, are jointly driving the new narrative.

What is Restaking?

Restaking refers to simultaneously using your staked cryptocurrencies (i.e. LSTs) to secure more protocols and earn rewards. Restaking, stemming from liquid staking, sets itself apart by providing liquidity for LSTs as well as additional earning opportunities. Leading restaking projects such as EigenLayer facilitate staking LSTs, such as stETH, to earn rewards.

Liquid staking, a way for investors to lock up their cryptocurrencies in exchange for rewards over time, was introduced after Ethereum’s adoption of a Proof of Stake (POS) mechanism following the Shanghai upgrade. Projects like Lido utilize stETH to represent the native ETH staking shares, thereby unlocking liquidity from staked assets. LST, on the other hand, stands for Liquid Staking Tokens, issued by projects like Lido, which include tokens such as stETH, cbETH, rETH, etc. These tokens inherently come with APYs. Restaking enables staked assets to be used for more protocols by sharing trust from the Ethereum Beacon staking layer. This not only allows users to earn more rewards but also lets other projects enjoy the same level of consensus and security as the ETH Beacon layer.

These projects adopt staking points to track participants’ contributions. As per convention, early contributors are expected to receive these projects’ native tokens through initial airdrops based on their contributions after the projects’ launch between April and September this year. Airdropping cryptocurrencies before their trading starts has garnered significant attention and popularity in the market.

Unmissable Restaking Airdrop: Get on Board with Top VC Players!

Leading projects, esteemed for their high market capitalization, often distribute lucrative airdrops. These projects have consistently captured the interest and investment of top-tier venture capital firms across multiple funding rounds.

According to reports, EigenLayer has successfully secured multiple rounds of financing, led by Blockchain Capital, with the participation of prominent venture capital firms such as Coinbase Ventures, Polychain Capital, Hack VC, and Electric Capital. Puffer, as a derivative project of EigenLayer, has also garnered significant attention. Notably, it has received backing from the Ethereum Foundation and secured two rounds of funding from institutions like Binance Labs, Jump Crypto, Brevan Howard Digital, Bankless Ventures, and Animoca Ventures, as well as angel investors including Anand Iyer from Lightspeed Partners, Sreeram Kannan (EigenLayer’s founder), Frederick Allen (Coinbase’s Head of Staking), and F2pool and Cobo. This impressive array of investors underscores the project’s substantial potential.

In the BTC sector, competition is fierce, with top projects like Merlin flexing their muscles. Merlin recently wrapped up a financing round in early February with 24 investors onboard, including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. Likewise, a prominent player in the BTC Layer 1 sector, has garnered support from renowned entities such as Binance Custody, Mainnet Digital, Breyer Capital, and OKX Ventures.

The crypto market has witnessed the arrival of a bull market in 2024. For those who missed out on opportunities like Ordinal Inscriptions and on-chain staking, there’s no need to worry! HTX offers you a chance to get on board. Even individuals unfamiliar with on-chain operations can participate by depositing assets into HTX for mining, effortlessly engaging HTX’s Liquid Restaking with spot assets, and easily earning airdrop rewards with a snapshot of your Spot account balance. Join hands with top VC players and capitalize on the new bull market in 2024.

The post first appeared on HTX Square.

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