🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

StaFi Expands Liquid Staking Support with Integration of EigenLayer LRT

Published 10/05/2024, 14:30
Updated 10/05/2024, 14:45
StaFi Expands Liquid Staking Support with Integration of EigenLayer LRT

Coin Edition -

  • StaFi integrates LRT into its LSaaS stack to enhance developer capabilities and restaking efficiency.
  • The LRT Stack addition aligns with the StaFi 2.0 roadmap, following EigenLayer’s successful mainnet deployment.
  • The upcoming StaFi 2.0 upgrade will transform the platform into an LSD Infrastructure Layer with new token utilities and security features.

Prominent staking infrastructure provider StaFi has elevated its Liquid Staking as a Service (LSaaS) stack by integrating support for Liquid Restaking Token (LRT). The StaFi team disclosed this new move in a recent press statement seen by Coin Edition. The report noted that the integration marks a significant milestone for the LSaaS ecosystem, arriving just a month after its launch.

Notably, this development is part of the broader vision outlined in the recently published StaFi 2.0 roadmap, which includes ambitious plans for the LRT Stack. Additionally, the successful deployment of EigenLayer on the mainnet has paved the way for this integration, offering developers and project teams a streamlined process for deploying LRT on LSaaS.

The StaFi team believes this move will revolutionize the efficiency of LRT development and make re-staking more accessible than ever before. Liam Young, the founder of StaFi, highlighted the significance of this integration, stating,

The integration of LRT into StaFi’s Liquid Staking as a Service is a major breakthrough for developers, who are now free to create restaking products that harness shared security across multiple chains.

Notably, the LRT Stack introduces a suite of functionalities, including the ability to restake, unrestake, withdraw, mint, and burn LRT. It also includes managing restaking pools and delegating or undelegate restaking operators.

These features will be further refined with EigenLayer’s upcoming upgrade, allowing developers and LRT operators to quickly and efficiently build their LRT solutions.

Moreover, to facilitate the construction of the LRT/ETH pair, AVS restaking rewards will be exchanged for ETH on the market through swaps. The LSaaS Stack App already supports EigenLayer LRT, and there is ongoing support for Karak and BounceBit LRT. Meanwhile, plans are underway to introduce support for BTC LRT.

For the uninitiated, the upcoming StaFi 2.0 represents a major overhaul and rebranding, transforming StaFi from a multi-chain LSD protocol to an LSD Infrastructure Layer. The upgrade will also see a refreshed brand identity, the introduction of a burn mechanism for the FIS token to add new utilities, and enhanced security features, including support for multiple Virtual Machines like EVM and WASM.

The post StaFi Expands Liquid Staking Support with Integration of EigenLayer LRT appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.