Prime Staked: Liquid Restaking

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Prime Staked: Liquid Restaking

Matt Liu is the co-founder of Origin Protocol, an Ethereum-powered platform for NFTs, DeFi, Liquid Staking, and Restaking.

Why you need to pay attention

Origin has a stablecoin, the Origin Greenback (OUSD) to help customers as they passively earn yield on OUSD held in wallets – versus being staked or locked up in a protocol.

Ethereum restaking has change into one in all 2024’s most disruptive narratives. The thriving sector is teeming with innovation, providing new alternatives for builders and customers alike.

Matt says he realized that if you wish to stay on the forefront, it’s essential continuously evolve together with the area. This precept allowed him to take liquid staking by the horns with Origin Ether. In a couple of months, they introduced a product to market that continues to ship worth for customers. In the present day, Origin Ether is approaching $100M of TVL whereas delivering greater risk-adjusted yields than the highest liquid staking tokens like stETH, rETH, and frxETH.

His new product is Prime Staked ETH (primeETH), a liquid restaked token (LRT) that gives liquidity for property which were deposited into EigenLayer. By changing staked ETH into primeETH, customers can stack ETH staking yield, EigenLayer factors, and primeETH XP factors all whereas remaining liquid.

primeETH is a reward-bearing token that works equally to cTokens. primeETH tokens will not be rebasing like stETH or OETH. As a substitute, the underlying rewards accrued by restaking positions are mirrored within the value of primeETH over time because it will increase in worth.

primeETH was developed by Matt and the Origin Protocol staff which have launched a number of DeFi merchandise with $100M+ in TVL. Prime Staked is a fork of Kelp which has been battle-tested with tons of of thousands and thousands of funds and has been audited by sigmaPrime and code4arena. The first change to the codebase was the addition of recent LSTs and configuring their related oracles. Every of the newly added property have been rigorously reviewed to verify they don’t introduce new reentrancy vectors or sudden behaviors.

Supporting hyperlinks

Bitget

Bitget VIP Link with BONUS 1000 USDT

Bitget Academy

Bitget Research

Bitget Wallet

Origin Protocol

Prime Staked

Andy on Twitter

Brave New Coin on Twitter

Brave New Coin

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