💰 Top 10 Liquid Restaking Protocols to Watch in 2025 📊

1. Ether.fi

TVL: $6.5 billion

Ether.fi stands out as one of the largest and most prominent liquid restaking protocols in the DeFi ecosystem. It allows Ethereum stakers to receive eETH.

2. EigenLayer

TVL: $1.5 billion

EigenLayer is revolutionizing cryptoeconomic security by enabling Ethereum stakers to restake their ETH or liquid staking tokens (LSTs) to provide security for dApps.

3. Pendle

TVL: $700 million

Pendle is a permissionless yield-trading protocol that allows users to tokenize their yield-bearing assets into Principal Tokens (PT) and Yield Tokens (YT).

4. Restake Finance

TVL: $1 billion

Restake Finance is a modular liquid staking protocol specifically designed for the EigenLayer ecosystem. It allows users to restake their LSTs into Actively Validated Services (AVSs) .

5. Puffer Finance

TVL: $1.7 billion

Puffer Finance offers a unique approach to liquid restaking by minimizing slashing risks and introducing validator tickets, which ensure rewards regardless of validator performance.

6. Kelp DAO

TVL: $1 billion

Kelp DAO is an emerging liquid restaking protocol built on EigenLayer, focusing on providing users with a simplified process to restake ETH and other assets such as stETH, ETHx, and sfrxETH.

7. Inception

TVL: $850 million

Inception is a liquid restaking protocol built on the Ethereum mainnet that takes a unique approach by offering Isolated Liquid Restaking Tokens (iLRTs).

8. Frax Ether (Frax Finance)

TVL: $2 billion

Frax Finance, known for its algorithmic stablecoin system, has expanded into the liquid staking and restaking space with Frax Ether.

9. Stader Labs

TVL: $2.5 billion

Stader Labs has established itself as a multi-chain liquid staking protocol that enables users to stake assets across networks like Ethereum, Binance Smart Chain, and Solana.

10. Rocket Pool

TVL: $2 billion

Offers users the ability to restake their rETHthrough EigenLayer and other services.