Launch App
Over $2 billion in ETH and Ethereum LSTs have been deposited on EigenLayer, yet most of these funds are illiquid.
PrimeStaked addresses this liquidity problem with its liquid restaking token, primeETH. primeETH provides unique benefits over direct restaking, such as maintaining liquidity and earning extra incentives on top of restaking points and LST yield.
PrimeStaked launches alongside EigenLayer’s deposit window on February 5th at 12 pm PST. As the premiere asset on PrimeStaked, OETH deposits will earn a 2x multiplier on their primeETH XP.
Aside from bonus XP, Origin Ether provides a unique advantage over traditional LSTs. OETH currently yields 2% higher than leading liquid staking tokens, as it deploys DeFi strategies to stack LST yield and DeFi yield.
All OETH yield strategies undergo a rigorous audit process, with over a dozen tier-one audits made on its codebase. OpenZeppelin is the primary auditor for Origin Ether, while TrailofBits and Narya have also provided security reviews.
Note: For users preferring to use one of the other supported collateral assets, please skip to Step 2.
Origin Ether (OETH) is liquid on Curve and Uniswap, with the most liquidity currently offered on Curve.
For users seeking zero slippage, OETH can be minted directly on app.oeth.com. The OETH dapp also supports direct redemptions, allowing users to redeem their Origin Ether for its underlying collateral.
Once you’ve acquired OETH, you’re ready to begin your restaking journey. To start earning EigenLayer points, 2x your XP, and Origin Ether’s boosted yield, you can mint Prime Staked ETH on PrimeStaked.com with the OETH in your wallet.
While direct redemptions for primeETH aren’t supported at launch, holders will be able to swap their primeETH for ETH on Uniswap V3.
That’s it – simply hold primeETH and watch your XP grow at twice the rate of other LST deposits. You can view your current holdings on PrimeStaked.com, as well as your accrued EigenLayer Points and XP.
There are three factors that can increase your primeETH XP earnings: your deposit amount, the time you deposit, and the type of asset you use to mint Prime Staked ETH. We’ve given some examples of how points are earned below, highlighting how these factors impact your primeETH XP.
First and foremost, what is primeETH XP? PrimeETH Experience Points measure your contribution to the PrimeStaked ecosystem. Accumulating XP positions you well for future token rewards.
That being said, you’ll want to maximize your primeETH XP earnings. There’s a few things you can do to achieve this, but the three most important factors are being early, going big, and depositing OETH. OETH deposits receive a 2x bonus on XP through the lifetime of the campaign, while being early gives big short-term incentives.
During the 4-day EigenLayer deposit window, users will be granted an early deposit multiplier. For the first 24 hours after EigenLayer opens deposits, primeETH holders will earn a 5x multiplier. In the following 24 hours, primeETH holders will earn a 4x multiplier. Each day LST restaking is enabled on EigenLayer, the early deposit multiplier decreases by 1x until the multiplier stops on February 9th.
primeETH XP will be accrue based on the amount of LSTs you hold per hour. The exact calculation is as follows:
Whale bonuses are applied to primeETH holders that hold above a certain threshold of tokens. You can see the how to qualify for a whale bonus below:
Importantly, multipliers are added to each other. Depositing 1 OETH at launch earns 7x points (5x early deposit multiplier plus 2x OETH multiplier). Some different scenarios are shown below, highlighting each users’ point multiplier based on their actions.
Bob deposits 3,000 OETH at launch. He receives a 5x early deposit multiplier, a 1.2x whale multiplier, and and 2x OETH multiplier.
Bob's bonus for that day would be 400% + 20% + 100% = 520% (6.2x).
Ashley deposits 50 stETH on day two. She receives a 4x early deposit multiplier, a 1.05x whale multiplier, and no OETH multiplier.
Ashley's bonus for that day would be 300% + 5% (4.05x).
Jake deposits 50 OETH and 50 stETH right before EigenLayer deposits close. After deposits close, Jake earns a 1.1x whale multiplier and a 2x OETH multiplier on half his holdings.
Jake’s bonus following EigenLayer deposits closing would be 200%(*0.5) + 10% (2.1x).
If Jake were to instead deposit 100 OETH, he would receive a 3.1x multiplier through the lifetime of the campaign.
We hope this helps you in your restaking journey. For any further questions, feel free to reach out to us via Discord. To stay up to date with primeETH announcements, follow PrimeStaked on X.
