Restaking Craze Hits Solana! Jito, Cambrian, and Other 6 Major Projects Plan to Launch Restaking

In the highly competitive DeFi (Decentralized Finance) sector, restaking has recently led a new narrative, attracting a large number of users who are eager to participate.

The restaking projects on Ethereum, Etherfi and Renzo, have successively launched on Binance's Launchpool, and Eigenlayer, which sounded the horn of this event, has even received a massive $100 million investment from top crypto venture capitalist a16z. Now, it seems this restaking craze is spreading to the established public blockchain Solana.

Sources say: Restaking Craze Spreads to Solana According to a report from CoinDesk yesterday, liquidity staking protocols on Solana such as Jito, Solayer Labs, Cambrian, Picasso, and other projects aim to replicate the success of Ethereum's restaking leader EigenLayer within the Solana ecosystem, making it seem inevitable:

Lucas Bruder, CEO of Jito Labs, commented: "The restaking craze continues to heat up, it’s somewhat like a gold rush."

Gennady Evstratov, founder of Cambrian, said: "The team is finalizing a $2.5 million funding deal, with three investors valuing it at about $25 million. The restaking network is expected to launch in Q2 or Q3, along with a point system and the issuance of tokens."

Solayer Labs is working on a multi-stage point system. Anatoly Yakovenko, founder of Solana, also invested in a $4 million financing by Polychain Capital.

What is a Restaking Protocol?

Taking Ethereum as an example, restaking refers to the practice of re-staking already staked ETH on Ethereum's PoS chain by staking it again on other blockchain networks to provide verification services, thereby earning additional returns beyond those provided by Ethereum's mainnet PoS staking.

Simply put, Ethereum stakers can use their staked ETH for secondary staking on other PoS networks, obtaining dual staking returns from both the Ethereum mainnet and other networks.

Currently, Ethereum's restaking protocols Etherfi and Renzo have already launched on Binance Exchange, and Eigenlayer is also about to issue tokens. However, restaking protocols on Solana are still in their infancy, and even relevant personnel at the Solana Foundation have stated that they have not yet conducted in-depth research on this.

Solana briefly surpassed $140 But perhaps spurred by this news, coupled with a rebound in Bitcoin. Solana has risen 7.8% in the last 24 hours, even briefly surpassing $140, with the past week's decline narrowing to less than 3%.