The Ethereum restaking sector continues to develop, with EigenLayer’s TVL hitting an all-time excessive of 5.42 million ETH on June 17.
Mitosis, a Cosmos-based liquidity protocol that goals to enhance capital effectivity throughout the modular blockchain ecosystem, has kicked off its Expedition Epoch 4 with expanded yield alternatives for Ethereum restakers.
Customers can now deposit EtherFi’s eETH liquid restaking token (LRT) on Mitosis and earn MITO factors. Based on the challenge’s web site, its whole worth locked (TVL) sits at simply over $40 million.
Expedition contributors will unlock 5 completely different sources of yield: staking APR, restaking APR, Eigenlayer factors, LRT factors, and Mitosis factors.
For the time being, customers can deposit their eETH on Ethereum (with 1.1x the factors), Arbitrum (1.2x), Blast (1.2x), Linea (1.2x), and Mode (1.2x).
Liquid Restaking Ecosystem Consolidates
The liquid restaking ecosystem has been marked by a meteoric rise in 2024.
Based on DefiLlama, the sector’s whole worth locked (TVL) sits at $14.6 billion and has consolidated round that degree since its final leg up in early Could when LRTs had $10 billion in TVL.
EtherFi leads the pack with $6.1 billion, adopted by Renzo ($3.7 billion), which introduced a $17 million funding spherical yesterday.
Rating tenth by TVL with $34 million, Mitosis is seeking to enhance development via its newest factors program. Whereas the quantity might sound low when in comparison with the highest gamers, the determine remains to be a 300% improve from Could 15.
Mitosis dubs itself the modular liquidity protocol. Liquidity suppliers obtain by-product tokens which can be 1:1 convertible to their locked property. The protocol then permits customers emigrate these to different DeFi functions, opening further yield choices on prime of the default fee-sharing scheme applied by Mitosis.
In the meantime, EigenLayer, which includes the majority of all restaking, has reached a TVL of $18 billion, regardless of a controversial airdrop that spurred widespread backlash over non-transferability and geographical exclusions.
