Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Crypto Fella on August 02, 2024, 10:48:39 AM
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I am sure we are already familiar with staking right from time, but as we all know, the tech world we find ourselves keep redefining things for us and trying to build upon what we already have on ground to make things better and not quite long I started seeing some folks making mention of restaking and all but because I don't want to assume things I just wanted to ask for a better enlightenment, as I couldn't find enough resources to explain it better, I have although seen it associating with Swell and some others and so I will like to know if this is from ETH or BTC?
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I am sure we are already familiar with staking right from time, but as we all know, the tech world we find ourselves keep redefining things for us and trying to build upon what we already have on ground to make things better and not quite long I started seeing some folks making mention of restaking and all but because I don't want to assume things I just wanted to ask for a better enlightenment, as I couldn't find enough resources to explain it better, I have although seen it associating with Swell and some others and so I will like to know if this is from ETH or BTC?
Nope restaking isn't from BTC cos it uses POW consensus mechanism, so the concept of staking doesn't apply there but restaking/staking applies to PoS blockchain like Ethereum.
Well I'll explain what's restaking tho, hopefully doesn't turn out bad explaining. So basically when you stake ETH, you get rewards like swETH, liquid staking token, btw this is from Swell network, the one you mentioned, I just did a quick search on that project, and I found out that they're currently having their native token on bitget pre-market. But anyway what you can do is restake those earned swETH to earn even more rewards.