Liquid Restaking Token

Staking on Ethereum

Ethereum's transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) introduced a new way to secure the network. In PoS, users stake ETH to participate in the consensus process and earn rewards. However, staking requires locking ETH, limiting its use in DeFi.

Liquid Staking Tokens (LSTs) - 1.0

LSTs emerged as a solution, offering a tradable token representing staked ETH. Users could stake ETH and receive LSTs, which could be used in DeFi activities while the underlying ETH remained locked on the beacon chain. Benefits of LSTs included:

• Liquid Asset: Staked ETH becomes tradable through LSTs.

• User Friendly: Rewards accrue automatically to LST holders.

• Composability: LSTs enable participation in various DeFi protocols.

Native Liquid Restaking Tokens (nLRTs) - The Evolution - 2.0

nLRTs represent a step forward in liquid staking, offering a more direct contribution to Ethereum's PoS security while promoting decentralization. The Ethereum staking landscape has seen the rise of nLRTs, an improvement over LSTs. Fundamentally LRTs are the token receipt after depositing LST (like stETH) in a Liquid restaking platform (LRP) while nLRT is the token receipt after depositing ETH natively to EigenLayer. However, we represent both through dETH.

dETH

dETH is an ERC-20 token designed to simplify the process of earning rewards on ETH and LST token deposits within the DefCor liquid restaking protocol. By holding dETH, users benefit from both traditional Ethereum Proof-of-Stake (PoS) rewards and additional rewards generated through restaking services.

dETH promotes seamless DeFi integration, allowing users to effortlessly maximize their yield through various methods. These methods include earning additional returns on their dETH holdings or utilizing dETH as collateral within lending protocols.

A key advantage of dETH is the one-click integration with selected DeFi protocols. This functionality empowers users to directly deploy their dETH for further yield generation from within the DefCor platform, streamlining the process and enhancing overall ease of use.