HTX Live丨Ride the Restaking Wave: Join "Top Miner" Justin Sun for Wealth Opportunities and Early Airdrops of Popular Projects
Singapore
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February 24, 2024 11:54 PM Eastern Standard Time
On February 2, HTX hosted a livestream on X featuring a lineup of influential guests, including Justin Sun, a member of the HTX Global Advisory Board; Kong Jianping, the founder of Nano Labs; and Han Feng, co-founder of Elastos. Esteemed industry media outlets such as Jinse Finance, MetaEra, and MarsBit also participated in the event. This live discussion, titled "Explosion of the Restaking Ecosystem," delved into the thriving Restaking ecosystem and revealed the wealth opportunities within popular projects like EigenLayer and Merlin Chain. The event aimed to explore the promising narrative of the upcoming crypto bull market in 2024. HTX Live provided simultaneous live-streaming coverage of the event.
Lower Risks in Restaking Protocols Compared to DeFi Protocols
Justin Sun first explained the concept of Restaking after the opening of the live stream.
Restaking, an asset management approach to decentralized staking pioneered by EigenLayer, enables users to restake their ETH, lsdETH, and LP Tokens on other sidechains, oracles, middleware, etc., as nodes and receive validation rewards. EigenLayer provides a new mechanism for pooled security by enabling modules to be secured by restaked ETH rather than their own tokens.
From the perspective of smart contract risks, Justin Sun believes that Restaking Protocols carry lower risks compared to DeFi Protocols.
Essentially, Restaking protocols do not involve the appropriation of principal for lending or interest generation, significantly reducing the likelihood of loss. Moreover, Restaking primarily utilizes the value of staked assets to ensure the credibility of the Layer 2 chain.
HTX's Liquid Restaking Coming Soon! Share Rewards for Over $50 Million Staking Quota in the First Round
Recently, the Restaking ecosystem has experienced rapid development, with many projects gradually introduced in the restaking and Layer 2 sectors:
EigenLayer, a trending Ethereum restaking project with TVL of over $7 billion.
Puffer, a trending Ethereum restaking project with TVL of over $1 billion.
Merlin Chain, a Bitcoin Layer 2 solution with TVL of over $1.5 billion.
BounceBit, a Bitcoin staking chain with TVL of over $0.45 billion.
For average users, there are still three major challenges in earning early airdrops from these popular projects:
1. Involving Different Blockchains: It requires researching each blockchain separately, which can be a huge burden.
2. Liquidity Issue of Staked Assets: When users stake their assets, those assets become locked and unavailable for trading elsewhere.
3. High Entry Threshold: Operations on the blockchain are often complex, requiring users to invest a significant amount of time and effort to learn and understand blockchain technology.
HTX is set to unveil a new feature of Liquid Restaking, granting users easy access to Restaking following a quick registration. Subsequently, users can earn rewards based on daily snapshots of their spot account balances.
According to an announcement from HTX, its Liquid Restaking event will launch at 09:00 (UTC) on February 29, featuring BTC, ETH, USDT, HTX, and TRX as the first applicable cryptocurrencies. Users can register for Liquid Restaking with their spot account balance snapshotted to earn rewards, including tokens and early airdrops of popular projects such as EigenLayer, Merlin Chain, etc. Participants can share on-chain rewards for over $50 million staking quota, including 250 BTC, 2,500 ETH, 25,000,000 USDT, 25,000,000 TRX, and 1,500,000,000,000 HTX.
So, what are the advantages of HTX Liquid Restaking compared to on-chain Restaking?
1. Simplicity, Accessibility, and Lower Risk. Users can participate with a simple click on the event page. HTX guarantees that during this event, regardless of any potential on-chain risks, user assets will always be safeguarded.
2. Excellent Asset Liquidity. Users are not required to stake any assets to participate in Liquid Restaking, and their participation in the event will not affect the trading of their assets. Additionally, users can earn staking rewards across different chains depending on the assets they hold.
3. Flexible Earnings. With daily snapshots of spot accounts, even short-term holders have the opportunity to earn rewards. As HTX supports more cryptos for Restaking, users can receive daily staking rewards regardless of the form of their assets on the platform.
In summary, HTX's Liquid Restaking is suitable for users who intend to trade but are reluctant to study Restaking projects. Simply by putting their assets in spot accounts and applying for Restaking, they can enjoy rewards every day.
Platform = Golden Shovel? High Value, Free Claims, Greater Flexibility, and Zero Risk
As Justin mentioned in the livestream, HTX Liquid Restaking will turn the platform into a "golden shovel," making it possible to mine regardless of the asset type.
"In the future, you can participate in mining using any assets, as long as they are held in your HTX spot account."
- High Value: Win trending projects' airdrops for $50 million staking quota with enormous upside potential
- Free Claims: One-click operation with no costs
- Great Flexibility: Effortless participation and exit with immediate effectiveness
- Zero Risk: Principal protection, free rewards, and risk-free farming
What makes HTX stand out is its fast iteration and focus on tracking new projects and concepts in the industry. It constantly strives to be at the forefront. This includes venturing into the Restaking ecosystem, making HTX likely the first crypto exchange to do so.
"By embracing innovation and upgrading ourselves, we continuously bring additional profits to our users," Justin expressed confidence in the platform's future development.
"Top Miner" Justin Suggests Taking Mining Seriously and Adopting a Relaxed Mindset to Restaking
During the live discussion, Justin expressed optimism about Restaking's development, noting its positive impact on the entire industry.
As a "top miner," he offered his suggestions:
1. "I don't recommend mining for those with weak risk management or limited code reading abilities, as there are risks involved. I take a serious attitude toward mining, so we should try to avoid its risks as much as possible.
With the launch of Liquid Restaking on HTX, Justin hopes that all users can benefit from such projects.
2. A relaxed mindset for Restaking participation
Novice users often prefer exchanges over direct protocol staking due to the latter's complexity. Exchanges offer convenient deposit and withdrawal services and custody responsibilities.
When inscriptions became popular, it was common for people to say, "Just mint some – what if there's a surge?" This implied that one shouldn't miss out on the opportunity for profit. Similarly, Justin recommended adopting a relaxed attitude toward Restaking.
Justin admitted that not every project would succeed and emphasized HTX's commitment to choosing high-value, high-certainty projects. Yet, the platform will seize every opportunity to profit from Restaking. After all, opportunities abound in a bull market, as long as risks are managed effectively.
At the end of the broadcast, Justin shared his views on the crypto market in 2024. He believes the industry will perform well, and HTX aims to capitalize on this to work with users to create wealth. The platform will adapt to new trends swiftly and deploy resources accordingly.
Restaking is still nascent but expected to flourish in the 2024 bull market. Users can stay tuned for and participate in HTX Liquid Restaking, which starts at 09:00 (UTC) on February 29, to earn airdrops of premium projects specifically arranged by the platform for this event and share on-chain rewards for over $50 million staking quota.
About HTX
Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3.
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