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reStaking Update: Too Many Opportunities Before EigenLayer Airdrop
1️⃣EigenLayer Official & EigenLayer Airdrop
2️⃣Updating the EigenLayer Ecosystem: Vibrant, Bustling & Full of Opportunities
3️⃣Notable New Names in reStaking Village
4️⃣Restaking Our Coming Times & Opportunities
I hope everyone will ❤️and 🔁to support @HakResearch
1️⃣EigenLayer Official Mainnet & EigenLayer Airdrop
On April 10, 2024, EigenLayer officially announced the mainnet. Just one day later, AVS officially got mainnet. AVS are Actively Validated Services - middleware, services, blockchain, network and PoS networks - secured by EigenLayer Restakers and coordinated by EigenLayer Operators. In In this phase 3, EigenLayer will focus on 3 AVS groups including:
✅Rollup Acceleration: EigenLayer Vai as the Data Availabilty layer for Rollup solutions looking for cheaper data storage than Ethereum with almost the same level of security.
✅Real-World Data Intergration: EigenLayer Vai as nodes with the ability to transfer data back and forth between DeFi, GameFi, Non-Fungible Token,... and the real world, similar to the Vai of Oracle but towards decentralization. concentrate.
✅Coprocessors: This is a special type of service, designed to perform complex calculations quickly and efficiently without requiring long-term data state storage.
Along with that, EigenLayer has also been deployed with 6 partners including:
✅Altlayer chooses EigenLayer's MACH service, meaning AltLayer will use Eigen nodes to participate in operating, enforcing and protecting the network. Altlayer MACH offers better scalability, security, and withdrawal times compared to other Optimistic Rollup platforms. Similar to Altlayer, Xterio also uses EigenLayer's MACH service.
✅Witness Chain is a project in the DePIN segment that uses Coprocessors service, similar to Witness Chain, which is Brecvis.
✅Eoracle uses Real-World Data Integration service to aim for decentralization and does not require licensing to join the network.
Where are the opportunities for us? Perhaps the time when EigenLayer Airdrop appears is very close, so in my opinion at the present time there are 2 bright opportunities to receive EigenLayer Airdrop including:
✅Participate in retaking LST Token into the EigenLayer network. However, because the EigenLayer Airdrop date is so close, the quantity must be very large. I think this is not a viable option for Retails. This will be similar to the way Justin Sun made tens of millions of dollars from http:/Ether.fi in just a few days.
✅Participate in deploying Node on the EigenLayer network. These are the best ways to participate directly in the EigenLayer network and I believe there will be a huge Airdrop for users operating nodes. However, to participate, you need a minimum of 32 ETH along with hardware requirements, especially factors related to electricity, network,... (infrastructure) to maintain your node. 24/24 to avoid fines.
Perhaps the opportunity here is only for those with a huge amount of ETH . To operate the node, you must also have more experience. So if you feel that this opportunity is too far away, don't stop and continue following me in the next content of the article.
2️⃣Updating the EigenLayer Ecosystem: Vibrant, Bustling & Full of Opportunities
However, before moving on, I also have a few things I want to bring to everyone's attention. In life and work, the trade-off between opportunities and risks is an unavoidable reality. Every time we are faced with an important decision, we must weigh the potential benefits from a new opportunity against the risks that may arise. The greater the opportunity, the greater the associated risk.
Because the opportunities I Chia below will be a game about leverage, the use of many protocols,... so I hope everyone will learn carefully before participating.
✏️Etherfi & The story "water is so clear there are no fish"
On March 12, 2024, Etherfi officially listed and deployed Launchpool on the Binance exchange, marking the first project in the reStaking segment, Liquid reStaking launched Token on the market, accompanied by a program Big Airdrop for our community. There are a number of notable points surrounding this event including:
✅Justin Sun spent a huge amount of ETH to farm Etherfi's Airdrop within a few short days, thereby "illegally" profiting tens of millions of dollars from the Airdrop. Facing the media crisis, Etherfi had to Airdrop more to those with few Token, but this was a disadvantage for the "middle class" of the platform.
✅Etherfi actually claimed 2 minutes before the official project time.
✅There was a lot of ambiguity in Etherfi's tokenomics right at the TGE stage when the platform paid Token to investment funds but did not publicly announce them. What followed was a series of price manipulation acts by MM.
With Etherfi's announcement of Airdrop Season 2 taking place in June, Etherfi has succeeded in retaining users, not only that, Etherfi's TVL is still on the growth trend. Obviously, Chia the Airdrop into several Seasons is one of the solutions to help the project avoid bleeding cash flow.
👉 XEM the old instructions here: x.com/HakResearch/status/17619...…
x.com/HakResearch/status/17619...…
During February, Hak Research Chia that everyone was able to Farm x20 times EigenLayer Point. At that time, for every 1 ETH, people will buy about 20 yteETH (LST of Etherfi), which means that people are farming Poinr Etherfi and EigenLayer with an amount of 20 ETH while the Capital spent is 1 ETH. In fact, I earned more than 400K Etherfi Points in just a few short days with a Capital of nearly $1,000 and earned $3,000 plus 3,000 EigenLayer Points.
Immediately after this problem was verified, the YT price of all Liquid reStaking such as eETH, ezETH, rsETH,... increased by x2 - x3 normally. This has very accurately verified the saying "When there is darkness, there is opportunity, but when everything is clear, there will only be FOMO".
The stories of Pendle, Etherfi, EigenLayer and the Point model of projects have proven that with a small amount of Capital but with a different and calculated strategy, you can participate in the game like a shark.
So is there still an opportunity at Pendle in the current FOMO context? In my opinion, the opportunity is still there but it is still too attractive when it is still in its early stages. From a personal perspective, YT investment now requires much more calculation and observation than in the previous period. Some parameters we need to observe are:
✅APY: Normally in the old period, the APY level that can be bought is about 30 - 35%, but at the present time, from my perspective, it will increase to 45 - 50%. If APY does not reach this level, it will be quite dangerous to participate.
✅Time: Maturity time is also extremely important, the closer to the end the Pool will become more volatile.
Optimal: If you buy Renzo's YT, you will receive Renzo & Eigen Points, if you buy Zircuit's YT, you will receive Renzo, Eigen & Zircuit Points, if you buy Puffer's YT, you will receive Puffer & Eigen Points
✅Conversion rate: Conversion rate from 1 ETH to ? YT ETH will also be extremely important. We need to compare the conversion rates of YT eETH, ezETH, rsETH,...
✅Verdict: We need to forecast which Airdrop will be larger to decide on the right YT purchase based on personal forecasts.
An extremely important point when investing in YT is that we only hold YT for a certain period of time (excluding the case of holding until maturity and YT returns to 0), so when we sell YT, the Point Our Points will not increase anymore while the real users of the project will still have their Points increase every day. Therefore, determining the time of Airdrop determines a large part of whether we will invest successfully or not?
Investing in YT will have many influencing factors, so everyone should calculate carefully before participating.
✏️Renzo Protocol is having the fastest cross-chain move
If talking about moving to Layer 2 platforms so that users can easily access and use at low cost, Renzo Protocol is doing the best. It is this factor that has made Renzo Protocol surpass Puffer Finance in terms of TVL, even Renzo's TVL shows signs of increasing x3 compared to Puffer Finance, although Puffer is superior to Renzo in terms of technology.
Cross-chain is just the beginning for Renzo to surpass Puffer and is showing signs of surpassing http:/Ether.fi, let's XEM Renzo's journey:
✅First, Renzo is the first Liquid reStaking Token available on Zircuit, from which users can farm Airdrop of Zircuit, Renzo and EigenLayer.
✅Next, Renzo is also one of the first LRTs available on the Blast ecosystem. By Farming ezETH on Blast in addition to using leverage, users can earn EigenLayer Point, Renzo Point, Blast Point, Blast Gold, Pac Point and Thruster.
Besides, ezETH is also present on many Blockchains such as Arbitrum, Mode, Linea, Base, BNB Chain. Compared to Etherfi or Puffer, currently these two platforms only appear on Ethereum, Arbitrum and a few platforms. other.
Moving to many different Blockchains, creating many Farm Airdrop opportunities (in line with market trends) has helped Renzo Protocol gain its current position. Maybe Renzo's technology is not as good as Puffer, not as endless as Etherfi, but Renzo's development strategy is completely correct. That shows that in the Crypto market, if your technology is not good, you have to have a great business strategy.
Again, where are the opportunities for us? From my perspective with Renzo, there will be some opportunities below:
✅As I said above, farming Zircuit's YT on Pendle can help us hunt for Airdrop from Zircuit, Renzo and EigenLayer. There will soon be a trio of Zircuit, Puffer and EigenLayer for us to choose from.
✅Or if you are focusing on Blast, the option to deploy ezETH on Pac Finance is also an ideal choice with 1 arrow hitting 6 different targets.
However, I feel that if I had the choice of farming Renzo's Airdrop or Puffer on Pendle , I would choose Puffer. Why? Currently, Puffer's TVL is only $1.3B while Renzo's is $3.2B. From here, perhaps everyone can answer for themselves where Point will have more inflation, where will there be more competition?
But because I myself am farming Blast's Airdrop , I am forced to Chia my Capital to fully deploy it.
✏️Puffer Finance: Technology barriers so you can't rush
Obviously, it cannot be denied that Puffer is much slower than its competitors, but we have a clear reason if Puffer's only competitor in the same industry is http:/Ether.fi They "borrowed" DVT technology from the SSV Network project, or Renzo Protocol and Rio Network do not have any new technology, Puffer Finance is building its own technology and an enhanced version of the technology. DVT technology.
If you say that Puffer Finance's technology only stops at "paperwork", then all of Puffer Finance's technology receives funding from the Ethereum Foundation, which is why the delay in business and focus on The technological aspect is understandable. In addition, Puffer Finance's development team is also more technology-oriented.
Some of the strategies that help Puffer Finance maintain its position include:
✅Users can provide liquidation to pufETH on Curve Finance to receive x2 Puffer Points compared to holding it themselves.
✅Users can Stake pufETH on Zircuit to farm Airdrop of Zircuit, Puffer and EigenLayer. However, being slower than Renzo Finance also caused Puffer to lose market share.
To speed up with current competitors, pufETH is available on many protocols such as Zerolend, http:/zk.Link and CyberConnect, however all the pufETH protocols present are not as attractive as ezETH (Renzo Protocol). However, as I Chia above, I will prioritize Puffer Finance because there is less FOMO, competition and inflation here than Renzo.
✏️Kelp DAO: Where is the key to success?
One of the key keys that helps Kelp DAO, despite doing very strong marketing and regularly interacting with the community, fail to achieve success is that Kelp DAO's Backer is not reputable enough with users. If http:/Ether.fi, Renzo Protocol or Puffer Finance all have the support of many leading investment funds in the market along with a huge amount of money, then Kelp DAO has only one Stader Labs - Liquid Staking platform. at a decent level in the market.
Therefore, in the Airdrop fever, even though there are many attractive campaigns, not having reputable Backers is also a disadvantage of the project. Some interesting activities of Kelp DAO include:
✅Is the leading and first project in Tokenize Eigen Point to help users buy and sell ✅EigenLayer Point much easier, more transparent and intuitive than Whales Markets.
Campaigns to attract users to deposit money into the protocol to increase the amount of Points compared to normal,
For me, Kelp DAO is not really attractive, but if the whole market underestimates it, it is still an opportunity worth considering because at the time of writing, 1 ETH has a conversion rate of 10 YT ezETH (Renzo Protocol). , 11 YT pufETH (Puffer Finance) then the ratio of Kelp DAO is 14 YT rsETH, maybe Kelp DAO's Airdrop is not as big as Puffer or Renzo but we can get more EigenLayer Points.
Another difficult thing to predict is that Kelp DAO's Airdrop may not be as large as Puffer or Renzo, but with a small number of users, will Kelp DAO's Airdrop per capita be larger? Obviously, when everything is still unclear, lacking FOMO, this is our opportunity.
3️⃣Notable New Names in reStaking Village
✏️Zircuit & Strange Wind
Zircuit is a Layer 2 platform on Ethereum, designed based on zkRollup and zkEVM technology to support developers to easily port DApps and Protocols from Ethereum and other EVM blockchains. The platform offers a number of special safety features such as continuous monitoring of the mempool to detect and prevent malicious transactions at an early stage, along with a highly secure bridge between Zircuit and Ethereum called Canonical Bridge .
Zircuit's highlight compared to other Layer 2 platforms is its ability to create parallel proof (Parallel Proof Generation), allowing simultaneous processing of multiple transactions or data blocks on multiple computers or processors. This approach not only increases network performance but also reduces the time needed to complete the proof generation process, making Zircuit faster and cheaper than other zkRollup platforms.
Grasping market trends, Zircuit allows users to Stake ETH along with LS Token such as stETH, and other LR Token such as ezETH, rswETH, rsETH and lsETH in its protocol. This makes it possible for users to receive profits in the form of EYH and points from related protocols such as Renzo Protocol, Puffer Finance, Kelp DAO, as well as from Zircuit itself.
✏️ CyberConnect & Ambition with reStaking
CyberConnect is a Decentralized Social Media (Decentralized Social - DeSocial) built and developed on the ecosystem of Ethereum and BNB Chain. Similar to Zircuit in capturing market trends, CyberConnect allows users to Stake pufETH, ezETH,... to receive Cyber reStaking Points.
Cyber reStaking Points can later be redeemed for CYBER Token . In addition, users can still continue to Stake CYBER to have the opportunity to receive Airdrop from future partner projects such as Puffer Finance, Renzo Protocol,...
It can be seen that currently, many projects, although not in the reStaking segment, still have novel strategies to attract market cash flow. Perhaps this is one of the special cases I have ever seen in the Crypto market.
4️⃣Restaking Our Coming Times & Opportunities
Obviously, Airdrop is still a great opportunity for users like us, but now we can see that a good strategy will help us optimize cash flow, of course, based on personal projections. It can be seen that at the present time, a thorough and clear strategy accompanied by a forecast with complete analysis can help us win big in the reStaking war. Some of the questions we must answer include:
✅How to optimize Capital?
✅Which projects will Airdrop first and last, and how big or small the Airdrop will be?
✅How to hit multiple targets with one arrow?
✅What will be the quality destinations? What are the evaluation criteria?
Answering all of the above questions helps us have a clear strategy to participate in the already confusing reStaking game, which has now become even more confusing.
EigenLayer enters the mainnet, so the appearance of EigenLayer Airdrop is only a matter of sooner or later, maybe in the next 1-2 months when the network is stable or maybe longer if EigenLayer expects sustainable decentralization. However, I believe that most projects will launch before or after EigenLayer to take advantage of the FOMO wave from the community. Therefore, once again, plan and strategize carefully.
Summary
EigenLayer Airdrop is becoming one of the hot spots of the Crypto market in the context that EigenLayer has mainnet. Hopefully through this article, everyone will have more perspective on EigenLayer, the EigenLayer ecosystem and the story of making maximum profit from EigenLayer Airdrop.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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