- At launch, PrimeStaked platform supports Origin Ether’s OETH that offers 2X bonus option, Lido’s stETH, Staked Frax sfrxETH, Rocket Pool’s rETH, Mantle Staked mETH, Stader Staked ETHx, and Manage Staked swETH
- The PrimeStaked platform is a fast-growing liquid restaking project built on the EigenLayer ecosystem to offer investors a diversified portfolio via the $primeETH token.
- The PrimeStaked platform opened the pre-deposit window on February 5, 2024, to allow early depositors maximum rewards.
The Ethereum (ETH) blockchain has grown to a mature ecosystem with more than $37 billion in Total Value Locked (TVL) with over 25% of ether’s supply ($70+ billion) staked. In less than a year since the Shanghai upgrade, which enabled the withdrawal of staked ether from the validator program, more than 10 million ETH has been added to earn passive rewards. Over time, liquid staking programs have gained traction due to the notable benefits that they offer to all investors including seamless access to locked assets and higher rewards through respective tokens. As a result, dozens of Web3 developers have focused on building the necessary infrastructure to onboard more investors who are otherwise locked out of Ethereum staking due to the difficulties in running the software and hardware involved.
PrimeStaked and Ethereum Liquid Restaking
PrimeStaked ETH, an Ethereum-focused liquid restaking platform built on top of the EigenLayer protocol, has embarked on a journey to revolutionize the staking industry through its $primeETH token. On February 5, 2024, the PrimeStaked platform opened the pre-deposit window that allowed early investors to earn extra rewards through its $primeETH token. PrimeStaked holders earn about 4% in staking rewards, EigenLayer points, and PrimeETH Experience Points (XP).
Interestingly, the PrimeStaked platform attracted more than 10,000 ETH worth about $25 million during the first days of launch, thus indicating its strong appeal to stakers. The platform allows EigenLayer depositors to retain their liquidity while earning Restaked Points, which many speculate will reward users with the EigenLayer airdrop. Built by the seasoned Web3 developer team at Origin Protocol, PrimeStaked gives special benefits to Origin Ether (OETH) deposits, which is the highest-yielding liquid staking token with a 2 percent higher APR.
Since its launch last year, OETH managed to offer higher liquid staking returns due to its aggressive aggregation program, which has attracted more than $100 million in TVL as of this report. Since Origin Ether became available on the EigenLayer ecosystem, it attracted more than $45 million in deposits.
The PrimeStaked platform offers users deep liquidity, amounting to over $1 million on the Uniswap decentralized exchange (DEX). Currently, it does not charge any fees on EigenLayer restaked points or the XP. 100 percent of the rewards accrued from the restaking program are passed down to the respective holders. Additionally, the PrimeStaked platform is working on integrating more EigenLayer assets like wBETH, osETH, and ETH, among others in the near future.
Bigger Picture
Origin Protocol has been expanding its product line in preparation for the mass adoption of web3 protocols and digital assets. In its latest development, the company announced a strategic integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP) that will enable OETH users to seamlessly transfer between different layer 2s in the form of wOETH tokens. As a result, more Origin users can participate with lower gas fees, among other features.
Overall, the successful launch of the PrimeStaked platform will significantly expand the adoption of the OETH product in the coming months and even years. Moreover, Ethereum (ETH) remains to be the top alternative to Bitcoin with most institutional investors using it to diversify their crypto portfolios.
