Ethereum Solana Virtual Machine (SVM) Layer 2 network Eclipse announced the launch of its first Unified Restaking Token (URT), tETH.
The new token integrates the most prominent yield-generating protocols on Ethereum into a single, user-friendly default yield token powered by the yield provider Nucleus. The new token simplifies the process for users to earn restaking rewards by eliminating the challenges of fragmented liquidity, time, and attention.
As per the announcement, pre-deposits for the token are now available. Users can now deposit various Liquid Restaking Tokens (LRTs), including eETH, ezETH, pufETH, rswETH, and others, into Eclipse, claim tETH, and engage with the Eclipse ecosystem. By doing so, they can earn rewards, such as staking rewards, AVS rewards, Nucleus points, and more.
Introducing $tETH.
We've created the first Unified Restaking Token (URT) , combining the largest yield-generating protocols on Ethereum into one easy-to-use default yield token, powered by @nucleusearn.
Earn restaking rewards without the complexity of fragmented liquidity,… pic.twitter.com/bYd0wzuR31
— Eclipse (
,
) (@EclipseFND) September 9, 2024
Eclipse launches Mainnet And Opens It For Developers
Eclipse functions as a customizable rollup provider that supports multiple Layer 1 blockchains. Its architecture integrates the SVM for execution, utilizes the modular data availability network Celestia for data availability, and relies on Ethereum for settlement and consensus.
In March, the project successfully raised $50 million through a Series A funding round, which was led by prominent investors such as Placeholder, Hack VC, and Polychain Capital, along with several other notable backers.
Eclipse has previously launched both a developer network and a test network version of its protocol. These releases have attracted various decentralized applications (dApps) to test its infrastructure, including the non-fungible token (NFT) marketplace Rarible, the oracle infrastructure Pyth Network, and the lending protocol Solend.
Recently, Eclipse has launched its mainnet, making it accessible to developers. Currently, the network includes a centralized bridge and lacks operational fraud proofs, withdrawals, or forced inclusion mechanisms, which will be addressed in the future. The next phase of the mainnet rollout will involve making it available to the broader public.
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