Today in Markets

Crypto Staking Sizzles

Airdrop hunters are chasing restaking opportunities
Jan 16, 20241 min read

Stake, stake, stake. Restaking promises to be a transformative crypto economic primitive, and hunting EigenLayer’s airdrop is the best way to capitalize on the opportunity! How can you maximize your eligibility for EigenLayer’s airdrop while exposing yourself to 2 more airdrops?

With EigenLayer’s liquid staking token (LST) deposit caps at capacity, you would need to wait for deposit limits to be increased or possess 32 ETH – along with the hardware and technical know-how required to operate your own full node – to natively restake with EigenLayer.

Thankfully, liquid restaking protocol ether.fi allows you to circumvent this requirement, meaning you can restake your ETH for eETH to start earning EigenLayer restaking points immediately!

 Staking your ETH for eETH will expose you to the EigenLayer and ether.fi airdrop opportunities, but if you’re looking to maximize your eligibility, you’ll need to interact with a third tokenless protocol…

Fixed-rate lending protocol Term Finance will allow you to borrow WETH against weETH (which can be obtained by wrapping eETH in ether.fi’s staking app).

The weETH you supply Term will continue to accrue ether.fi and EigenLayer, and you can maximize your eligibility for both airdrops by swapping the ETH you borrow for more eETH to double the amount of points you are earning!

 Please note: Term Finance has a 0.5 ETH minimum deposit requirement

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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