BPOI Banner
Kraken Pushes for Jury Trial in SEC Lawsuit, Rails Against 'Crypto Asset Securities' Claims Kraken Pushes for Jury Trial in SEC Lawsuit, Rails Against 'Crypto Asset Securities' Claims

Kraken Launches Restaking on Ethereum-Based Protocol EigenLayer

Kraken’s customers can now restake their already-staked ETH on the Ethereum network and earn additional rewards through projects on the decentralized finance protocol EigenLayer.

The new feature aims to broaden investor access to yield-bearing opportunities on-chain, making restaking “more accessible to a broader range of clients,” Kraken said in a statement on Tuesday.

Kraken subsidiary Staked, an EigenLayer operator, has been tapped as the validator for ETH restaked. Users participating in restaking can hold their rewards on Kraken or trade them for fiat or other cryptos.

Kraken’s feature comes at a time when restaking is experiencing significant growth. The total value locked in liquid restaking tokens has surged more than 3000% this year to roughly $11 billion, DefiLlama data shows.

Restaking involves using cryptos already staked on a blockchain to provide additional security or perform other functions across multiple protocols without having to unstake them. 

It also allows users to extend the utility of their staked assets, securing various decentralized platforms and earning additional rewards, thereby increasing their overall yield.

Hoping to simplify that process, the exchange is positioning it as a means to “significantly lower” investors’ barriers to entry, a spokesperson told Decrypt.

“As the vast majority of crypto users already interface with CEXs, this integration makes restaking immediately more accessible to a broader range of clients,” Mark Greenberg, Kraken’s global head of asset growth, said in the statement.

While the offering is available in various parts of Europe, those customers in the U.S. are denied access, including other jurisdictions where “geographic restrictions apply,” Kraken said.

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Source link

Liz Napolitano

https://decrypt.co/286494/kraken-launches-restaking-on-ethereum-based-protocol-eigenlayer

2024-10-16 01:17:22

bitcoin
Bitcoin (BTC) $ 97,303.07 2.86%
ethereum
Ethereum (ETH) $ 3,452.76 2.98%
tether
Tether (USDT) $ 0.998795 0.09%
xrp
XRP (XRP) $ 2.38 3.46%
bnb
BNB (BNB) $ 705.28 0.26%
solana
Solana (SOL) $ 206.97 6.71%
dogecoin
Dogecoin (DOGE) $ 0.337681 3.92%
usd-coin
USDC (USDC) $ 0.99943 0.05%
cardano
Cardano (ADA) $ 0.957885 3.82%
staked-ether
Lido Staked Ether (STETH) $ 3,451.60 2.90%
tron
TRON (TRX) $ 0.264928 3.74%
avalanche-2
Avalanche (AVAX) $ 39.01 3.87%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,114.70 3.69%
the-open-network
Toncoin (TON) $ 5.62 2.00%
chainlink
Chainlink (LINK) $ 22.05 1.22%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 4.98%
sui
Sui (SUI) $ 4.36 1.33%
stellar
Stellar (XLM) $ 0.427728 0.14%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,174.04 2.90%
hedera-hashgraph
Hedera (HBAR) $ 0.290933 0.96%
polkadot
Polkadot (DOT) $ 7.15 0.87%
weth
WETH (WETH) $ 3,453.51 2.97%
bitcoin-cash
Bitcoin Cash (BCH) $ 458.61 1.99%
uniswap
Uniswap (UNI) $ 14.28 5.22%
pepe
Pepe (PEPE) $ 0.00002 4.06%
leo-token
LEO Token (LEO) $ 9.05 0.50%
litecoin
Litecoin (LTC) $ 104.85 1.00%
hyperliquid
Hyperliquid (HYPE) $ 23.07 12.63%
bitget-token
Bitget Token (BGB) $ 6.19 4.27%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,648.37 3.00%
near
NEAR Protocol (NEAR) $ 5.40 2.87%
ethena-usde
Ethena USDe (USDE) $ 0.99743 0.02%
usds
USDS (USDS) $ 1.00 0.11%
aptos
Aptos (APT) $ 9.26 3.31%
internet-computer
Internet Computer (ICP) $ 10.63 0.26%
aave
Aave (AAVE) $ 332.91 4.03%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 4.55 2.59%
mantle
Mantle (MNT) $ 1.35 5.65%
bittensor
Bittensor (TAO) $ 518.80 9.62%
crypto-com-chain
Cronos (CRO) $ 0.151028 0.17%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.484076 1.80%
ethereum-classic
Ethereum Classic (ETC) $ 26.74 4.10%
render-token
Render (RENDER) $ 7.69 7.88%
vechain
VeChain (VET) $ 0.048351 2.57%
mantra-dao
MANTRA (OM) $ 3.86 2.16%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.39 6.51%
monero
Monero (XMR) $ 195.88 0.07%
whitebit
WhiteBIT Coin (WBT) $ 24.68 0.31%
tokenize-xchange
Tokenize Xchange (TKX) $ 43.83 14.47%
dai
Dai (DAI) $ 1.00 0.01%
bitcoin
Bitcoin (BTC) $ 97,303.07 2.86%
ethereum
Ethereum (ETH) $ 3,452.76 2.98%
tether
Tether (USDT) $ 0.998795 0.09%
xrp
XRP (XRP) $ 2.38 3.46%
bnb
BNB (BNB) $ 705.28 0.26%
solana
Solana (SOL) $ 206.97 6.71%
dogecoin
Dogecoin (DOGE) $ 0.337681 3.92%
usd-coin
USDC (USDC) $ 0.99943 0.05%
cardano
Cardano (ADA) $ 0.957885 3.82%
staked-ether
Lido Staked Ether (STETH) $ 3,451.60 2.90%
tron
TRON (TRX) $ 0.264928 3.74%
avalanche-2
Avalanche (AVAX) $ 39.01 3.87%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,114.70 3.69%
the-open-network
Toncoin (TON) $ 5.62 2.00%
chainlink
Chainlink (LINK) $ 22.05 1.22%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 4.98%
sui
Sui (SUI) $ 4.36 1.33%
stellar
Stellar (XLM) $ 0.427728 0.14%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,174.04 2.90%
hedera-hashgraph
Hedera (HBAR) $ 0.290933 0.96%
polkadot
Polkadot (DOT) $ 7.15 0.87%
weth
WETH (WETH) $ 3,453.51 2.97%
bitcoin-cash
Bitcoin Cash (BCH) $ 458.61 1.99%
uniswap
Uniswap (UNI) $ 14.28 5.22%
pepe
Pepe (PEPE) $ 0.00002 4.06%
leo-token
LEO Token (LEO) $ 9.05 0.50%
litecoin
Litecoin (LTC) $ 104.85 1.00%
hyperliquid
Hyperliquid (HYPE) $ 23.07 12.63%
bitget-token
Bitget Token (BGB) $ 6.19 4.27%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,648.37 3.00%
near
NEAR Protocol (NEAR) $ 5.40 2.87%
ethena-usde
Ethena USDe (USDE) $ 0.99743 0.02%
usds
USDS (USDS) $ 1.00 0.11%
aptos
Aptos (APT) $ 9.26 3.31%
internet-computer
Internet Computer (ICP) $ 10.63 0.26%
aave
Aave (AAVE) $ 332.91 4.03%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 4.55 2.59%
mantle
Mantle (MNT) $ 1.35 5.65%
bittensor
Bittensor (TAO) $ 518.80 9.62%
crypto-com-chain
Cronos (CRO) $ 0.151028 0.17%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.484076 1.80%
ethereum-classic
Ethereum Classic (ETC) $ 26.74 4.10%
render-token
Render (RENDER) $ 7.69 7.88%
vechain
VeChain (VET) $ 0.048351 2.57%
mantra-dao
MANTRA (OM) $ 3.86 2.16%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.39 6.51%
monero
Monero (XMR) $ 195.88 0.07%
whitebit
WhiteBIT Coin (WBT) $ 24.68 0.31%
tokenize-xchange
Tokenize Xchange (TKX) $ 43.83 14.47%
dai
Dai (DAI) $ 1.00 0.01%