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Deythere > News > News > High-Yield Restaking Opportunity for BTC and ETH Holders!
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High-Yield Restaking Opportunity for BTC and ETH Holders!

around restaking in cryptocurrency highlighting symbols for Bitcoin and Ethereum. Show digital tokens with arrows or growth indic
Ezeudo Nwosu
Last updated: November 5, 2024 9:28 am
By
Ezeudo Nwosu
Published November 5, 2024
3 Min Read
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EigenLayer (EIGEN), the largest restaking platform on Ethereum, has launched new high-yield restaking options for Bitcoin (BTC) and Ethereum (ETH) holders. With this development, users now have the chance to earn higher returns on wrapped Bitcoin and receive payments through the platform’s top validator, P2P.org.

Contents
  • Increased Yield Opportunities
  • Security Infrastructure and New Use Cases
  • Payment Distributions and Competition

Increased Yield Opportunities

On November 4, EigenLayer announced an update offering enhanced yield for wrapped Bitcoin stakers. Through one of the platform’s major node operators, P2P.org, users can now receive payments. This update enables BTC and ETH holders to restake their assets and earn additional income.

Meanwhile, ARPA Network—a protocol operating on EigenLayer—has started supporting uniBTC. This move allows Bitcoin holders to earn rewards while adding liquidity to the restaking ecosystem, encouraging more BTC holders to join EigenLayer.

Security Infrastructure and New Use Cases

ARPA Network utilizes EigenLayer’s robust security infrastructure and provides secure random number generation for applications ranging from on-chain governance to games and lotteries.

Following the launch of the EIGEN token, EigenLayer aims to increase collaboration with Web3 applications, expanding its utility and revenue sources. For example, RedStone, a data verification service, has integrated with EigenLayer to offer secure data validation.

The EIGEN token is designed to meet broader security demands beyond traditional proof-of-stake models. Recently, EigenLayer addressed a $5.5 million unauthorized sale of EIGEN tokens and conducted a thorough investigation into the matter. According to CoinMarketCap, EIGEN has seen a 16% price drop over the past 30 days, currently trading around $2.39, with weekly and monthly declines of 16% and 25%, respectively.

high yield restaking opportunities for Bitcoin BTC and Ethereum ETH on EigenLayer. Show Bitcoin and Ethereum symbols pro

Payment Distributions and Competition

EigenLayer’s primary validator, P2P.org, distributed $2.2 million in ETH rewards to restakers on November 4. Managing over $540 million in collateral, EigenLayer competes with prominent players like Figment, Blockdaemon, and Ankr.

P2P.org plays a vital role in EigenLayer’s growing restaking ecosystem, contributing significantly to the validation and security of decentralized applications.

EigenLayer’s new restaking options and consistent reward distributions present BTC and ETH holders with increased earning opportunities. Furthermore, the platform continues to broaden its utility within the Web3 ecosystem, aiming for sustained growth.

Stay tuned to Dey There for the latest updates on EigenLayer’s advancements and restaking opportunities.

EigenLayer, restaking, Bitcoin, Ethereum, Web3

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ByEzeudo Nwosu
Ezeudo Nwosu is a blockchain and cryptocurrency professional with over 8 years of experience in the industry. With a background in software engineering, Ezeudo has been at the forefront of developing innovative blockchain solutions that address key challenges in various sectors. His work includes leading blockchain integration projects and advising on the creation of decentralized applications (dApps). Ezeudo is recognized for his deep technical knowledge and his ability to translate complex blockchain concepts into practical applications. At DT NEWS, he offers expert insights into the latest developments in blockchain technology and cryptocurrencies, helping readers stay informed about the future of digital finance.
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