Six major projects including Jito, Cambrian, and Picasso plan to launch Restaking! SOL jumps to $140

This site (120BtC.coM): In the extremely competitive DeFi (decentralized finance) track, Restaking has recently led a new narrative and attracted a large number of users Crazy rush.

Etherfi and Renzo, the re-pledge projects on Ethereum, have been listed on Binance’s Launchpool. Eigenlayer, which blew the horn of this competition, has received an investment of up to 100 million US dollars from the top crypto venture capital a16z. . Now, this re-staking craze seems to be spreading to the established public chain Solana.

Sources: The re-staking craze spreads to Solana

According to "CoinDesk" citing sources yesterday (2), the liquidity staking protocols Jito, Solayer Labs, Cambrian, Picasso on Solana …Six other project parties hope to replicate the success of Ethereum’s re-staking leader EigenLayer within the Solana ecosystem, which seems to be inevitable:

Lucas Bruder, CEO of Jito Labs, said: “Re-staking The craze continues to heat up, it's a bit like a gold rush." ​​Gennady Evstratov, founder of Cambrian, said: "The team is finalizing US$2.5 million in financing, and three investors said the valuation is about US$25 million. Q2 or Q3. It will launch a re-staking network, launch a points plan, and issue tokens.”

Solayer Labs said it is developing a multi-stage points plan.

Solana founder Anatoly Yakovenko also participated in Polychain Capital’s $4 million financing.

What is a re-pledge agreement?

Take Ethereum as an example. The so-called re-pledge refers to the ETH that has been pledged on the Ethereum PoS chain and provides verification services by pledging it for a second time in other block networks. Earn income in addition to the PoS staking income provided by the Ethereum main network.

To put it simply, Ethereum pledgers can use the pledged ETH for a second time to pledge on other PoS networks, and obtain double pledge income from the Ethereum main network and other networks.

Currently, both Etherfi and Renzo, the re-pledge protocols on Ethereum, have been listed on Binance Exchange, and Eigenlayer is about to issue coins. However, the re-pledge protocol on Solana is still in its infancy, and even relevant people from the Solana Foundation said that they have not conducted in-depth research on it.

Solana once exceeded $140

But it may be motivated by this news, and Bitcoin rebounds. According to CoinGecko data, Solana has risen by 7.8% in the past 24 hours, and once exceeded $140 at the time of writing. The decline in the past week has narrowed to less than 3%.

In addition, DeFi projects within the Solana ecosystem have also seen general gains, among which:

Jito has risen 10.9% in the past 24 hours to US$3.53
JUP rose 12.1% in the past 24 hours to $1.04

• ##RAY rose 7.9% in the past 24 hours to $1.56

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