The new buzzword in the cryptocurrency field is “start again“. But what exactly is it and how can you benefit from it?
We are all familiar with the terms staking and monetization. But in cryptocurrency, just a few percentage points is not enough and some smart developers have come up with new ways to earn even more. Many of these projects also offer retroactive airdrops to early adopters, or at least strongly hint at them. We understand that this can all be confusing and feel like you are walking through a maze. So we are here to explain it.
Let’s dive in.
What is sneezing?
Re-staking allows users to secure multiple networks simultaneously by staking the same tokens on the main blockchain and other protocols. Despite the higher slashing risk, reinvestors receive greater rewards for taking on this additional risk.
EigenLayer introduces re-staking as a resource management strategy for distributed staking. In this approach, the protocol uses Liquid Restake Tokens (LRTs), a flexible form of staked tokens, to maximize the value extracted from staked tokens. This benefits stakers, other networks, and the re-staking protocol itself.
The concept of re-staking is gaining popularity as many projects (and airdrop farmers) look for ways to effectively use re-staking resources or become re-staking resource providers.
Restaking Airdrop List
Following the recent AltLayer Airdrop deployment, the re-staking mechanism has attracted more attention. If you missed it, you can check your eligibility here.
Today we will look at active campaigns that have not yet dropped tokens. Not all of these have been confirmed to be airdropped to restakers, but at least they have signaled that they will.
1) Layer propria
Starting today, we’ll start with the biggest and first project to introduce re-staking, which coincidentally reopens deposits!
EigenLayer is an Ethereum-based protocol that allows users to reuse $ETH to provide security and earn rewards. Reduce capital costs and strengthen trust assurance by implementing joint security across multiple services. EigenLayer promotes permissionless innovation by eliminating the need for a separate trust network.
They currently support liquid staking of Lido Finance Staking ETH (stETH), Rocket Pool Staking ETH (rETH), and Coinbase Wrapped Staking ETH (cbETH). Newly supported projects include Swell’s swETH (#3 on this list).
More information about airdrop can be found in Airdrop Alert.
2) Puffer Finance
Backed by Binance, Puffer Finance is a decentralized native liquidity re-staking protocol (nLRP) built on EigenLayer that allows anyone to run Ethereum proof-of-stake (PoS) validators without the traditional significant 32 ETH capital requirement while earning rewards. Innovatively designed to strengthen your
You can earn points by doing some easy tasks, referring and re-registering. See here for more details.
3) Swell Network
Swell is a cutting-edge liquid staking protocol developed by Swell Labs to improve DeFi access. Users who stake ETH will receive $swETH, a revenue-generating token that allows them to earn rewards while contributing to Ethereum’s blockchain stability.
The core of Swell is governed by the Swell DAO, a decentralized autonomous organization representing $SWELL token holders.
You can earn pearls by staking here, which you can then stake again on Eigenlayer. Farm Swell with us.
4) Renzo Protocol
Renzo operates as Liquid Restake Token (LRT) and Strategy Manager, built to drive widespread adoption of EigenLayer, secure actively verified services, and ensure higher returns.
Renzo abstracts away all the complexity, allowing users to mint ezETH liquid resale tokens by depositing ETH or wBETH without requiring 32 ETH or an Ethereum node integrated with EigenPods.
You can farm both Renzo and Eigenlayer points by staking there again. Find the exact steps here.
5) EtherFi Restaking
Ether.fi is the first Ethereum decentralized re-staking protocol that allows stakers to delegate validator tasks to node operators while retaining control of their own keys. This allows users to stake ETH and earn rewards while supporting and democratizing network decentralization.
This initiative subtly hints at the possibility of future retroactive airdrops between EigenLayer and Ether.fi. You can participate starting today.
Regular staking airdrops
The following list will focus on regular staking airdrops. Several big products have already been released recently, such as Manta and JITO. But it’s never too late to get involved in the following activities:
1) Mode network
The Mod Network is a scalable Ethereum Layer 2 designed to foster collaborative on-chain experiences, champion empowerment, and serve as a nexus for world-class applications.
Built-in sequencer fee sharing and benefiting from Optimism’s Bedrock upgrade, the mode balances share growth and fee reduction to increase cost efficiency by 95%.
They have a pool of 550 million $MODE tokens (5.5% of total supply) that can be claimed until April 2024. Please check the website for more details.
2) explosion
Blast is an innovative EVM-compatible optimistic rollup L2 solution that differentiates itself with its native return capabilities for ETH and stablecoins. This feature sets Blast apart in the DeFi space, providing unique revenue streams and rewards to end users.
Created by Pacman, founder of Blur. As Blur distributed one of the largest airdrops of 2023, we are very excited about this Blast airdrop. Airdrop farmers already have over $1 billion locked up in the protocol. Check it out now.
3) Milky Way
MilkyWay is a liquid staking protocol tailored to the Celestia ecosystem, initially deployed and operated by Osmosis, with plans to migrate to Celestia’s Rollkit for native MilkTIA issuance.
The $MILK token is the core of MilkyWay, provides a 10% protocol fee of MilkTIA rewards, and will play an important role in governing the future of the platform. Find out more about the potential airdrop here.
4) Celestia
Celestia stands out as a modular blockchain designed to make it easy to deploy new blockchains, similar to smart contract creation. Its unique architecture featuring Data Availability Sampling (DAS) and Namespace Merkle Tree (NMT) sets a new standard for blockchain scalability and accessibility.
After the Celestia Genesis Drop, there are signs of more airdrops for stakers. This is true not only for Celestia itself, but also for other projects, including the aforementioned Milky Way and Altlayer. Additional information about airdrop notifications.
5) injection
Injective is a layer 1 blockchain built to democratize access to financial markets, providing a high-speed, interoperable environment for Web3 financial applications. Backed by major investors like Binance, Pantera, and Mark Cuban, it enables seamless decentralized app development across keychains like Ethereum and Solana and drives DeFi innovation.
A very extensive guide on how to grow this was published by us a few weeks ago.
6) Bitbank
BitsBank on Binance Smart Chain is a user-friendly staking platform that simplifies earning interest on cryptocurrency assets while ensuring high returns and secure asset management, including instant cryptocurrency lending.
They are currently running a “Stake 100 $USDT and receive 40 $USDT” campaign.
final thoughts
It’s there. A complete list and guide to reshoots. I hope this helps you get through the maze and earns you some cryptocurrency in the process. I’m glad you made it to this part. Please keep working hard!
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You might also like our recent guide on 15 Dex Airdrops and 7 Wallets Required for Airdrop Farming.
