Liquidity suppliers can earn boosted factors for all three tasks and EigenLayer.
The competitors for liquid restaking market share continues to warmth up because the sector’s prime tasks supply boosted factors to incentivize customers.
On Feb. 10, EtherFi, Renzo, and Swell introduced they’d partnered to launch a tri-liquid restaking token (LRT) pool on the Balancer decentralized alternate. Liquidity suppliers can earn factors for all three LRT suppliers, along with factors for EigenLayer, the pioneering Ethereum restaking protocol.
“We’ve teamed up with Renzo Protocol and EtherFi to introduce the primary ever tri-LRT pool,” Swell tweeted. “This revolutionary pool allows you to earn 4 factors directly.”
“We strongly consider that collaboration is vital within the LRT house for the advantage of customers,” mentioned EtherFi.
Every challenge’s factors are allotted to liquidity suppliers primarily based on your complete worth of liquidity suppliers’ positions. Factors distributions are doubled for its first month of operation, excluding EigenLayer.
Liquid restaking protocols increase
The brand new pool serves as a mechanism for Swell, EtherFi, and Renzo to collaborate in a bid to increase every challenge’s respective dominance over the quickly increasing LRT sector.
The whole worth locked (TVL) in LRT protocols is up roughly 1,000% for the reason that begin of the 12 months at simply shy of $3B, in response to DeFi Llama.
EtherFi is the sector’s main protocol with a TVL of $1.04B, accounting for 35% of liquid restaking TVL. EtherFi’s TVL crossed previous $1B for the primary time on Feb. 11 following the success of its “mega week” marketing campaign providing boosted factors to customers from Jan. 31 by means of Feb. 10.
Puffer Finance has emerged because the second-largest LRT protocol, amassing an $857M TVL since enabling deposits on Feb. 1, adopted by Kelp DAO with $396M, and Renzo with $270M.
Swell ranks seventh with $41M after launching a liquid restaking token on Jan. 29, that means the protocol stands to realize essentially the most from the newly launched tri-LRT pool on Balancer.
Bedrock has additionally emerged because the sixth-largest LRT protocol after launching a factors marketing campaign distributing “Bedrock Diamonds” following its transition to an LRT protocol on Jan. 28. Bedrock’s TVL at the moment sits at $80.6M.
