đ„đ„đ„ $ETH #restaking surge driven by a decrease in annual staking rates â #P2P.org
The rise in Ethereum restaking is driven by declining annual percentage rates (APRs) for staking, according to P2P.org. Staking, a key component of proof-of-stake (PoS) blockchains, involves locking crypto to earn rewards. Restaking allows stakers to reuse their staked tokens for additional rewards, boosting network security.
As ETH's token supply exceeded 120 million on August 15, the popularity of restaking surged, leading to increased ETH issuance. Artemiy Parshakov of P2P.org noted that lower ETH staking APRs and competition among staking providers have fueled restaking's appeal, making it essential for maximizing returns.
P2P.org's Alessandro Maci pointed to EigenLayerâs EIGEN token rewards and the emergence of the permissionless restaking protocol Symbiotic as key factors driving the trend. Restaking is now a vital strategy for enhancing security and optimizing returns in the competitive market.
Source - cointelegraph.com
