- The Ethereum restaking market is still expanding; on June 17, EigenLayer’s TVL reached a record-breaking 5.42 million ETH.
Mitosis, a Cosmos-based liquidity protocol, has extended yield chances for Ethereum restakers as it begins its fourth expedition era. Mitosis wants to make the modular blockchain ecosystem more capital-efficient overall.
Now, users can earn MITO points by depositing EtherFi’s eETH liquid restaking token (LRT) on Mitosis. The project’s website states that its total value locked (TVL) is slightly more than $40 million.
Participants in the adventure will be able to access five different sources of yield: staking APR, eigenlayer, mitosis, and LRT points.
Currently, customers can deposit their eTHER on Linea (1.2x), Mode (1.2x), Blast (1.2x), Ethereum (1.1x), and Arbitrum (1.2x).
Consolidates the Liquid Restaking Ecosystem
In 2024, the liquid restaking environment experienced a tremendous increase.
DefiLlama reports that since its previous step up in early May, when LRTs had $10 billion in TVL, the sector’s total value locked (TVL) has stabilized at $14.6 billion.
With $6.1 billion, EtherFi is the leader, followed by Renzo ($3.7 billion), which just revealed a $17 million fundraising round.
With $34 million, Mitosis is ranked tenth by TVL and hopes to increase growth with its most recent points scheme. Even though it may not seem like much in comparison to the best players, the total represents a 300% gain from May 15.
Modular liquidity procedure is the moniker given by mitosis. They receive derivative tokens that are 1:1 convertible to the locked assets of liquidity providers. After that, the protocol enables users to transfer them to other DeFi apps, providing them with more yield alternatives beyond Mitosis’s basic fee-sharing plan.
In the meantime, EigenLayer, which makes up the majority of all restaking, has attained a TVL of $18 billion, in spite of a contentious airdrop that sparked a broad backlash due to geographical exclusions and non-transferability.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
