HTX’s Liquid Restaking enables users to effortlessly earn profits with a diverse array of cryptos while optimizing capital utilization.
This new feature is set to debut on February 29, 2024. Participants can share on-chain rewards for over $50 million staking quota.
Why Restake?
From a value perspective, EigenLayer has pioneered a decentralized market that allows ETH holders to Restake their tokens, providing security for crypto applications in Ethereum and other networks. For developers, EigenLayer offers the opportunity to build decentralized networks, avoiding the challenges and significant capital costs associated with launching and operating trusted networks. Freed from the burden of managing validator nodes, protocol developers can focus on critical tasks like application development. The security provided by Restaking, akin to a modular blockchain, helps projects deploy applications quickly, easily, and at a low cost. This makes it much easier to develop Web3 applications, fostering the ecosystem to thrive.
This appealing security will undoubtedly attract numerous projects. Past experience implies that these projects may conduct airdrops for Restaking projects. This gives value to EigenLayer-like tokens (resembling a golden shovel), much like TIA, a leading token within modular projects. The anticipation of substantial wealth creation has spurred significant capital inflows into EigenLayer for rewards. At one point, on-chain data showed that EigenLayer’s staked assets had exceeded $7 billion.
Addressing the High Restaking Threshold
While projects like EigenLayer hold promising prospects for wealth growth, the requirements for Restaking are demanding. As mentioned earlier, Restaking is an upgrade to liquid staking, necessitating users to switch between different chains and pay gas fees. This presents challenges for novice users and those with limited capital. Moreover, Restaking constrains liquidity, lowering the efficiency of capital utilization. As the Restaking space grows, trending projects have emerged. Consequently, selecting suitable projects could be challenging, not to mention the time and effort required. Furthermore, encountering scams poses a considerable risk, potentially resulting in the loss of entire investments.
To appreciate your great support while facilitating the development of the Staking and Restaking ecosystems, HTX will launch the new feature of Liquid Restaking on February 29, 2024. You can register for Liquid Restaking with your Spot account balance snapshotted to earn rewards, including tokens and early airdrops of popular projects such as EigenLayer, Merlin Chain, etc. HTX will allocate $50 million to participate in high-quality Restaking projects. Simply put, the exchange invests $50 million in these projects and pays dividends to users if it makes a profit.
Participating in HTX’s Restaking with Zero Risk
Register for Liquid Restaking with the desired cryptos by navigating to your app > Assets > Spot > Liquid Restaking or Earn > Liquid Restaking. According to HTX’s announcement, applicable cryptos include BTC, ETH, USDT, HTX, and TRX. Rewards: Participants will win Liquid Restaking (LRS-XXX) points, which can be redeemed for corresponding rewards.
After registering for Liquid Restaking, a snapshot of participants’ Spot account balances will be taken at a random time daily. The on-chain rewards per day will be distributed in the form of points after a 3-day period, based on the snapshot results. For instance, if Tom registers on March 1, 2024, the first reward will be distributed to him on March 4, 2024, based on the snapshot of his Spot account balance on March 1, 2024. If the registration time precedes the random snapshot time on the same day, the registration will take effect on that day; otherwise, it will take effect on the following day. According to the announcement from HTX, the redemption of LRS-USDT, LRS-TRX, and LRS-HTX points will be available soon, while LRS-BTC and LRS-ETH points can be redeemed within 14 days after the start of the on-chain project airdrops, estimated between April and September, depending on the on-chain airdrop schedule. The rewards will be credited to participants’ Spot accounts.Read the official announcement for details: https://www.htx.com/support/en-us/detail/104962650981126
Why HTX‘s Restaking?
While Restaking projects have moderately extended the security consensus on the Ethereum main chain through innovation, HTX’s Liquid Restaking further boosts the growth of the Restaking space.
With Liquid Restaking, users can engage in Restaking directly through their spot accounts, thus sharing Restaking benefits. This is more convenient than investing in passive income products. Additionally, funds in spot accounts can still be used for spot trading. As the range of supported cryptos expands, users can earn Restaking rewards with a diverse selection of assets.
In essence, HTX’s new feature turns the platform into a golden shovel, requiring users no additional operations. What makes it stand out is its ability to provide higher yields than passive income products, offer simplicity and convenience in earning rewards, and support a wide array of assets. As the Restaking landscape evolves, HTX will collaborate with leading projects to ensure secure liquidity for Restaking. Leveraging its robust investment and research capabilities, HTX can swiftly follow market trends and capture opportunities. Joining HTX’s Liquid Restaking presents individual investors with an effortless means to access and profit from Restaking.
The post first appeared on HTX Square.
