Apart from EigenLayer, what are some recent projects Restake has been staking?

Restaking protocol is not only a feature of Eigenlayer or the Ethereum ecosystem, according to crypto researcher Ignas who pointed out that ecosystems like Polygon, Solana, Cosmos, etc., have already seen rapid development of restaking projects.

This article is not investment advice.

Introduction to Restake Concept

The concept of restaking was popularized by the EigenLayer protocol, which allows users to stake ETH or stETH for a second time to support the security of their nodes protecting external networks. This protocol aims to enhance the security of decentralized networks by combining economic incentives with Ethereum's security.

There are many examples of decentralized networks requiring security, including Celestia for data availability layer DA, ChainLink for oracle networks, and various sidechains. EigenLayer aims to link Ethereum's security to these projects, reducing the need for them to establish network security from scratch and lowering the barrier to cold starts.

How will the Restake project EigenLayer change the Web3 infrastructure ecosystem?

Expansion of Restake Concept to Multiple Ecosystems

In fact, the concept of restaking is not unique to EigenLayer, as many ecosystems already have similar projects.

Other ecosystems are exploring this concept, including Polygon's future updates, Cosmos' multi-chain ecosystem, Solana's Picasso project, and Near's Octopus Network.

Polygon 2.0

As part of the Polygon 2.0 project, users will be able to stake the new token POL in the future. POL token holders can stake their tokens to earn mainnet rewards in POL and support various nodes, running external decentralized networks, creating a multi-chain ecosystem based on Polygon's mainnet security.

Polygon 2.0 Token Upgrade Proposal｜MATIC Upgraded to POL! 2% Yearly Increase, Additional Staking Rewards

Polygon 2.0 is expected to not only support the security of external blockchains but also aggregate networks, DAOs, and other facilities requiring security support.

Cosmos

The Cosmos ecosystem already allows users to stake ATOM tokens to protect networks within other ecosystems. Ignas pointed out that Neutron is the first network to accept ATOM staking for security.

Solana

Within the Cosmos ecosystem, the Picasso project introduces the restaking concept to the Solana network. Users can stake SOL, mSOL, jitoSOL, and other LP tokens to support Solana's cross-chain IBC validators, with plans to extend security to other networks or facilities in the future.

Solana's largest third-party client Jito will issue governance token JTO

Near

The Octopus Network in the Near ecosystem that supports application chains has long been a pioneer in the restaking track, allowing users and project teams to stake NEAR tokens to extend security to application chains on the Octopus Network.

The first external network supported on the Octopus Network is Ottochain, with plans to support more decentralized networks in the future.

Restake is not a New Concept

In reality, the concept of restaking, like early application chains, is not new, but due to the asset properties of staking, it may bring multiple benefits. For example, staking stETH can earn Ethereum consensus rewards and potential token rewards from restaking projects simultaneously. The concept is similar, but it has been repackaged by the market.

The restaking concept is not new, but EigenLayer has indeed popularized it, combined with the explosive growth in the field of liquid staking derivatives such as LSD from Lido in recent years, once again driving the narrative of restaking.

As a participant, considering the concept from a higher level can help identify true innovations more clearly and distinguish the rationality of market ups and downs more accurately, aiding in making more precise judgments.

This article is not investment advice