The Earn Network introduces yet another category to its community-driven marketplace – Restaking. This cutting-edge feature comes on the heels of successful launches in both DeFi Staking and NFT Staking and is designed to amplify the yield on digital assets.
What is Restaking?
Restaking involves the reinvestment of staking rewards back into the system to compound gains. Together with delegation capabilities, an auto-compounding mechanism has been incorporated into the Earn Network platform, enabling a hassle-free way to see profits grow. The restake feature initially supports an array of decentralized Proof-of-Stake (dPoS) blockchains within the Cosmos ecosystem.
Unique Advantages of Earn Network’s Restaking
One of the standout aspects of Earn Network’s Restaking is the simplified staking process for supported projects with a minimal fee structure available through the platform’s dApp. In most cases, this allows delegators to keep 99% of earned rewards. Only a nominal 1% fee, or the lowest fee specified by the chosen blockchain network, is charged. Additionally, Earn Network’s validators cover all the fees for activated restaking activities. Being part of the platform’s ecosystem also offers additional benefits and perks, including the opportunity to receive the upcoming $EARN mainnet tokens.
Official Restaking Partners
In the dynamic world of decentralized finance, robust partnerships are invaluable. Some of the first official Restaking partners include: Oraichain ($ORAI), Persistence ($XPRT), Decentr ($DEC), AssetMantle ($MTNL), and Shentu ($CTK).
For a complete list of supported assets, visit the Restaking section on the Earn Network website.
Special Launch Giveaway
To celebrate this launch, the Earn Network is offering a special giveaway. Any delegation exceeding $100 through the Earn Network dApp will result in an award of 50 EARN Points, a Wealth Alchemist Discord Role and a $5 token bonus for the delegation. Moreover, the top ten delegators will earn an exclusive Investment Icon role on Discord. This offer is valid until November 19, 2023 and prizes will be distributed within seven days post-contest.
Final Thoughts
This is just the beginning of expanding capabilities within the Cosmos ecosystem. Further enhancements, functionalities and assets in the domain of restaking are under development.