Liquid Staking

StakeStone is an infrastructure protocol designed to aggregate yields from liquid staking (LSD) and restaking. Through a cross-chain yield orchestration mechanism, it improves capital efficiency. Users deposit ETH or related staking assets and receive a representative receipt token, while the protocol automatically allocates funds across multiple yield strategies, enabling layered returns from different sources.

StakeStone manages user-deposited ETH or liquid staking assets in a unified pool and automatically allocates them across staking and restaking strategies to aggregate multiple yield sources. This process includes asset deposits, issuance of yield-bearing tokens, strategy allocation, and cross-chain yield routing, with returns ultimately reflected through changes in asset value.

STO is StakeStone’s governance and incentive token. Its core purpose is to guide user behavior through token distribution mechanisms while supporting the operation of a multi-chain yield aggregation system. Unlike STONE, which represents users’ asset shares, STO does not directly correspond to staked assets. Instead, it participates in protocol operations through incentives and governance rights. Within StakeStone’s token model, STO is distributed to users, ecosystem participants, and governance contributors to guide capital flow and decision-making, playing a key role in the multi-chain yield aggregation framework.

Restaking is a mechanism that allows already staked assets to be reused, enabling them to participate in multiple protocols or services and earn rewards from various sources. Unlike traditional staking, which relies on a single blockchain’s consensus rewards, restaking expands how assets are utilized, transforming a single-source yield model into a multi-layered reward structure and significantly improving capital efficiency. In StakeStone, the restaking mechanism uses automated strategies to allocate user assets across different yield sources, combined with cross-chain coordination to optimize returns, making it a key component connecting liquid staking with a multi-chain yield ecosystem.

Lido DAO (LDO) is a decentralized autonomous organization responsible for managing the Lido liquid staking protocol. Through voting by LDO token holders, it determines protocol parameters, node operation strategies, and the overall direction of ecosystem development. As a key piece of infrastructure in the liquid staking sector, Lido DAO’s governance directly affects protocol security, reward structures, and long-term sustainability.

stETH is a liquid staking token issued by Lido DAO (LDO). It represents users’ staked ETH on the Ethereum network along with the staking rewards it generates, while allowing those assets to remain usable within the DeFi ecosystem during the staking period. Lido DAO’s token economy is built around two core assets: stETH and LDO. stETH captures staking yield and provides liquidity, while LDO governs the protocol and controls key parameters. Together, they form a dual-token model for liquid staking.

As a liquid staking protocol built on Ethereum, Lido DAO (LDO) allows users to stake ETH and receive a transferable staking token called stETH. This enables users to participate in network validation and earn staking rewards while maintaining liquidity. The protocol is governed by a decentralized autonomous organization (DAO) and uses smart contracts to manage staked assets, node operations, and reward distribution. As a result, it lowers the barriers to traditional staking and improves capital efficiency.

Lido DAO (LDO) is a liquid staking protocol that enables users to stake ETH while receiving a transferable staking derivative, stETH, allowing them to maintain liquidity. Through this mechanism, users can participate in the Ethereum network’s staking process and earn rewards without locking up their assets. The protocol is governed by a decentralized autonomous organization (DAO) and relies on smart contracts to manage staked assets, node operations, and reward distribution. This lowers the barrier to entry for staking and improves capital efficiency.

This report provides a systematic review and analysis of the development of liquid staking (LSD) protocols. Since 2020, liquid staking protocols have risen rapidly, with total value locked (TVL) surpassing USD 85 billion, becoming an important bridge between PoS and DeFi. By comparing mainstream protocols such as Lido, Jito, and Rocket Pool, the report highlights the characteristics and competitive dynamics of different models: Lido, leveraging its first-mover advantage and economies of scale, remains the leader in Ethereum liquid staking; Jito has rapidly expanded within the Solana ecosystem by distributing MEV revenue; Rocket Pool, through decentralization and low entry thresholds, has encouraged participation from smaller node operators. With relatively low risk and stable yield characteristics, liquid staking has attracted massive user and capital inflows, and has further given rise to innovative products represented by Pendle, enhancing both capital efficiency and financial diversity.

The article reveals the challenges and transformation needs faced by the re-staking sector by analyzing the strategic adjustments of the two leading projects, Ether.fi and EigenLayer.

The article details the three native tokens of Berachain (BERA, BGT, and HONEY) and their functions, and delves into various ways to participate in the Infrared liquidity staking protocol, including staking BERA or iBGT, forming liquidity pools, etc.

The article analyzes the significant increase in the price of Ethereum and the multiple factors behind it, including improvements in macroeconomic policies, market sentiment recovery, expectations of Ethereum Pectra upgrade, and positive expectations for ETF staking functionality.

Glow Finance integrates lending and trading functions to provide a full set of financial tools aimed at maximizing capital efficiency and expanding revenue opportunities. Its core features include margin accounts, modular components, automated revenue strategies, and a unique liquidity engine.

P2P.org is a leading non-custodial staking provider, offering secure staking, restaking, and data services across 40+ proof-of-stake blockchain networks.

This article provides an in-depth analysis of EigenLayer’s slashing mechanism, including unique stake allocation, Operator Sets, and programmable slashing rules, and explores their specific impacts on AVSs, Operators, and restakers.