Ethereum restaking has rapidly become one of 2024’s most disruptive narratives. The thriving sector is teeming with innovation, offering new opportunities for builders and users alike.
Have you heard the rumor? Something new is coming this Monday.
Origin Ether’s debut as one of the first LSTs on EigenLayer marked our entrance into restaking. In just seven months, EigenLayer has captured more than $2B in TVL – highlighting the Ethereum community’s massive enthusiasm around restaking.
Now, we're excited to usher in a new era for restaking liquidity with the launch of Prime Staked ETH (primeETH). As an innovative liquid restaking token (LRT), primeETH is here to make capital work smarter and liquidity flow faster, all while further promoting OETH.
Any supported LSTs can be bought and deposited until deposits close next Friday at 12 pm PT. Should you wish to take advantage of primeETH’s unique benefits with already restaked assets, please make sure to unstake your EigenLayer assets as soon as possible. Given that this process takes 7 days, it’s vital to unstake soon in order to transition to primeETH. Users who delay the transition may miss the next restaking window, and lose the chance to be an early primeETH adopter.
Excitingly, primeETH holders will stack ETH staking yield, primeETH XP, and EigenLayer points while maintaining liquidity. Let’s dive into the benefits of primeETH, how it works, and how you can get involved when EigenLayer reopens its deposits on February 5th, 2024 at 12 pm PT.
With the introduction of primeETH, we will be debuting a new incentive program: primeETH XP. Users that hold primeETH will receive LST yield, EigenLayer Points, and Experience Points. OETH deposits will receive an additional 2x bonus on their XP.
*Note that transferring primeETH to another wallet will disqualify your 2x bonus.
primeETH XP will accrue based on the amount of LSTs you hold per hour. The exact calculation is as follows:
Early depositors will also earn an XP multiplier on their deposit; XP boosts are as follows:
Moreover, you can earn an XP bonus depending on the amount of LSTs you deposit:
We’re always exploring new avenues to reward our community. By harnessing primeETH, users can accrue XP from the campaign’s outset, leaving you well-positioned for future rewards.
Bob deposits 3,000 OETH at launch and 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 and 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).
At launch, Prime Staked ETH will support OETH, stETH, mETH, sfrxETH, and ETHx. Stay tuned to our Twitter as we announce support for additional LSTs in the coming days.
Holders can deposit any of these tokens to mint primeETH, representing their capital and accrued yield. At the same time, supplied LSTs are restaked on EigenLayer to earn EigenLayer points, and eventually, restaking yield.
On Monday, deposits will open for supported LSTs on PrimeStaked.com. To take advantage of the early deposit multiplier, be sure to deposit soon after EigenLayer’s deposit window opens on February 5th at 12pm PT.
Get ready, as we are set to align the launch of primeETH with Eigenlayer's deposit window, which opens on February 5th at 12pm PT and closes on February 9th at 12pm PT. In the days ahead, we'll be sharing updates on additional LSTs that will be supported. Prepare your LSTs to deposit in primeETH: PrimeStaked.com on Monday!
