Disclaimer
The material is for informational purposes only. ForkLog is not responsible for the investment decisions of readers.
More recently, Ethereum holders have the opportunity to stake ETH and receive up to 4% per annum for it. But now there are also protocols on the market restakingwhich allow you to derive double or even triple benefits.
Anton ProfiT, the author of the title of the same name, tells ForkLog about several platforms offering this way of earning money. YouTube channel and the Telegram channel PROFIT MAFIA.
OwnLayer
How it works. Protocol OwnLayer built on Ethereum and makes it possible to safely use assets received for staking, farming and other activities in order to reinvest them in third-party dapps without additional approvals. This allows the ether that has already been staked in one place to be reused and receive additional benefits.
For restaking ETH on EigenLayer, holders will also be awarded project points. The longer the user keeps the ether here, the more points he will be awarded. The project will eventually convert them into its own tokens. And it turns out that we earn not only interest on staking, but also promising crypto assets.
Prospects. OwnLayer attracted $164.5 million from such giants as a16z, Coinbase, Blockchain Capital, Polychain. The TVL of the project exceeded $10 billion on March 6, 2024. By this indicator, EigenLayer was ahead of Aave.
Renzo
How it works. Renzo is a new liquid staking protocol built on EigenLayer. In it, as in EigenLayer, you can stake ether and at the same time receive the same interest and project points, which are subsequently converted into tokens.
Prospects. The project started quite recently and managed collect $3.2 million investment from Binance and other funds. TVL as of March 6 is at ~$860 million and continues to grow.
Zircuit
How it works. Zircuit — the third protocol in this bundle, which will allow you to increase your investments. It is necessary to extract maximum benefit from the ETH involved. In this protocol, you can also stake ether, receive interest and points, for which an airdrop will be provided.
Prospects. At the time of publication, the TVL of the project, launched in November 2023, exceeds $490 million.
What’s next?
And now the most important thing — a user can, with 1 ETH, obtain points in all three protocols at once. That is, he will not have to invest in projects separately in order to receive tokens from each of them. This seriously increases the chances of a good airdrop. We perform the following actions:
1. Go to the Renzo website, click Connect Wallet, accept the terms and connect the wallet to the Ethereum Mainnet network.
Data: Renzo.
2. Transfer ETH to ezETH by clicking the Confirm button and signing the transaction.
The commission in our case was $80.
Data: Renzo.
Important clarifications:
- We performed all actions at 65 Gwei;
- In this case, 3 ETH was invested in this activity;
- MetaMask warned that it would write off $160, but in the end the amount turned out to be half that;
- by transferring ETH to ezETH, we receive Eigenlayer and Renzo ezPoints;
- You can track points on the Portfolio tab (credited once every 24 hours);
- withdrawals will become available at the end of the first quarter (that is, in March).
3️. On the Zircuit website, enter the code CA1CCY (if this did not happen automatically) and click the Connect Wallet button. You won’t be able to register without a code.
Data: Zircuit.
4. Click Sign and authorize the action in MetaMask.
5️. Opposite RENZO, press the MAX button, then Confirm.
Data: Zircuit.
Then we sign two transactions in the wallet. Commission – $25.29.
Important clarifications:
- here you can also add weETH from EtherFi and swETH from Swell;
- information about points is located in the Points section, they are awarded every second.
6. After depositing ETH, you can optionally go through Galxe quests from Renzo, but this is not necessary.
All operations took us about 10 minutes. Commission costs on the ETH network amounted to $105.29 with Gwei at 65.
conclusions
For ETH holders, such projects are attractive primarily because of their airdrops. In addition, there is less competition, since participation requires significant investment.
In addition to the interest for staking, for each unit of our ether we will receive an airdrop in three projects at once, which significantly increases the chances of additional earnings.
However, it is important to note that this algorithm only works with contributions of 0.5 ETH. The longer the user holds his tokens, the more points he will have time to accumulate by the time of the airdrop, which means he will receive more profit.
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2024-03-06 16:03:12
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