Ankr Staking Partners with Restake Finance DAO

Ankr Staking Team

Ankr Staking Team

February 22, 2024

2 min read

In Brief

    Through a partnership with Restake Finance, Ankr Staking offers ankrETH holders an innovative restaking service that enables higher yields without locking assets.

    TL;DR:

    • Ankr Staking announced a partnership with Restake Finance DAO to enable ankrETH liquid stakers to earn additional yield through restaking.
    • The collaboration allows ankrETH stakers to earn higher rewards on their investments without having to lock up their assets.
    • Ankr Staking emphasizes the option of restaking for ankrETH holders on the Restake Finance Platform, where the current estimated APY is approximately 30.55%.

    Restake Finance DAO Partnership With Ankr Staking

    Ankr Staking is proud to announce its partnership with Restake Finance DAO, which will allow ankrETH liquid stakers to restake their reward-bearing tokens and accrue an extra layer of yield on top of their investments.

    Restake Finance DAO is a decentralized modular liquid restaking protocol that enables users to accrue EigenLayer’s native rewards on top of their Ethereum staking rewards without having to lock their assets.

    This approach simplifies access to staking rewards while also increasing yield generation for ankrETH holders by allowing their Liquid Staking Tokens (LSTs) to function as crypto-economic security within the EigenLayer landscape.

    Benefits of This Partnership for AnkrETH Stakers

    The partnership between Restake Finance DAO and Ankr Staking enables ankrETH stakers to engage in restaking their reward-bearing tokens through Restake Finance DAO's platform. Such integration enables ankrETH holders to participate in Restake Finance’s protocol by staking their tokens in return for rstETH, facilitated by Restake Finance DAO's decentralized modular liquid restaking structure.

    Such an approach, which is managed through decentralized, DAO-controlled smart contracts, ensures a transparent and secure environment for users while also guaranteeing a one-to-one backing of rstETH by ankrETH.

    The collaboration aims to provide ankrETH stakers with an enhanced yield generation avenue by leveraging the restaking capabilities offered by Restake Finance DAO, without necessitating the locking up of their assets.

    AnkrETH holders will soon enough be able to visit the Restake Finance platform and restake their tokens. Moreover, Ankr Staking highlights that the current estimated APY on the Restake Finance platform is 30.55%.

    This collaboration between Ankr Staking and Restake Finance represents a significant development in the staking space, providing ankrETH holders with a novel way to maximize their yield without the traditional constraints of staking, thereby enriching the Ethereum ecosystem