On February 21, members of the global advisory committee of Huobi HTX, including Sun Yuchen, founder of Nano Labs Kong Jianping, co-founder of BeL2 of Elastos Han Feng, and many other heavyweight guests in the industry, as well as industry media such as Jinse Caijing, MetaEra, and Mars Finance, visited the Huobi HTX Twitter Space. The theme of this Space live broadcast was "Restaking Ecological Outbreak," comprehensively interpreting the ecological track of Restaking and the wealth password of star projects such as EigenLayer and Merlin Chain, and discussing the most "promising" narrative of the new round of bull market in 2024. HTX Live simultaneously broadcasted this event.

Restaking Staking Risk Is Much Lower Than General DeFi Protocols

Sun Yuchen first interpreted the concept of Restaking in the live broadcast.

Restaking is a decentralized on-chain asset management method created by EigenLayer, which allows users to stake ETH, lsdETH, and LP Tokens on other public chains, oracles, middleware, etc., as nodes and receive validation rewards through restaking, achieving aggregated security - allowing modules to be protected by restaking ETH rather than their own tokens.

From the perspective of evaluating smart contract risk, Sun Yuchen believes that Restaking, as a protocol-level staking, has an overall risk lower than that of general DeFi protocols.

Because fundamentally, the funds of Restaking do not involve the situation of misappropriating principal for lending and interest, so the possibility of loss is greatly reduced. It is more to a greater extent using these values for staking to ensure the credibility of the second-layer chain.

Huobi HTX is about to launch liquid restaking, with an initial airdrop reward pool of $50 million

With the popularity of the Restaking ecosystem, various star projects in the restaking and L2 tracks have gradually started:

EigenLayer, a star project for Ethereum restaking, with an on-chain staking volume exceeding $7 billion;

Puffer, a star project for Ethereum restaking, with an on-chain staking volume of nearly $1 billion;

Merlin Chain, a Bitcoin layer 2 solution, with an on-chain staking volume exceeding $1.5 billion;

BounceBit, a Bitcoin staking chain, with an on-chain staking volume exceeding $450 million…

For ordinary users, there are three difficulties in obtaining early airdrops of these star projects:

1. Involving different chains: it is necessary to conduct research on different chains, which is a heavy burden;
2. Liquidity issue of encrypted assets: staking will lock the liquidity of funds, making it impossible to trade further;
3. Complex on-chain operations, high learning curve.

Huobi HTX is about to launch the on-platform Liquid Restaking feature, which is equivalent to using the snapshot method of the spot account every day. Users only need to click the application button to participate in Restaking with one click and share the profits.

According to the announcement from Huobi HTX, Huobi HTX will open the on-platform Liquid Restaking on February 29 at 17:00 (UTC+8), with initial support for currencies including BTC, ETH, USDT, HTX, TRX. Users can sign up to share rewards with their spot balances, including token rewards, early airdrops of star projects such as EigenLayer and Merlin Chain. Participants can share a reward pool of $50 million (250 BTC, 2,500 ETH, 25,000,000 USDT, 25,000,000 TRX, 1,500,000,000,000 HTX).

So, what are the advantages of the Restaking feature launched by Huobi HTX compared to on-chain Restaking?

First, it is easy to operate, with a low threshold and low risk. Users can participate with just one click on the activity page. Huobi HTX promises that during this activity, regardless of any on-chain risks, user assets will not be affected.

Second, the asset liquidity is good. It does not affect the trading of assets, and users can obtain staking rewards on different chains depending on the types of coins they hold.

Finally, the profits are flexible. Because the spot account takes snapshots every day, even if the user holds the coins for a short time, there is still a chance to receive profits. As Huobi HTX supports more and more currencies for Restaking, regardless of the form of assets held by users on Huobi HTX, they can receive Restaking rewards on a daily basis.

In summary, the Liquid Restaking feature launched by Huobi HTX this time is suitable for users who have trading needs and are lazy to research Restaking projects. They only need to place their assets in the spot account and apply to join the Restaking plan to enjoy the profits.

Platform = Golden Shovel? High Value, Free Rewards, More Flexible, Zero Risk

Sun Yuchen mentioned in the live broadcast that the Liquid Restaking feature launched by Huobi HTX this time is equivalent to turning the platform into a golden shovel, generalizing the golden shovel, and the golden shovel is no longer a fixed or single coin.

"In the future, regardless of the currency, as long as it is in the spot account of the Huobi HTX platform, it can participate in mining."

【High Value】Star track, $50 million early token pool, great appreciation potential;

【Free Rewards】One-click operation saves time and effort, without additional costs;

【More Flexible】One-click participation, one-click exit, immediate effect;

【Zero Risk】Principal security, white-collar income, risk-free mining.

The advantage of the Huobi HTX platform lies in its fast iteration speed, focusing on tracking some new projects and concepts in the industry and making layouts at the first time. Including the Restaking track, Huobi HTX should be the first exchange in the industry to lay out Restaking.

"Embrace innovation, iterate oneself, and constantly bring some excess returns to exchange users." Sun Yuchen is quite confident about the future development of Huobi HTX.

Sun Ge Acknowledges the Title of "Top Miner," Reveres Mining, and "Casually Mines" with a Calm Mind

Sun Yuchen stated in the live broadcast that he is optimistic about the development of Restaking and believes that Restaking has a certain boosting effect on the entire industry.

At the same time, he also gave sincere advice as a "top miner":

1. "I do not recommend mining for those with weak risk control or not particularly strong in code reading ability, as there are still certain risks in mining. Because I still have a certain reverence for mining, so we try to avoid the risks of mining as much as possible."

This time, with the launch of the Restaking feature on the Huobi HTX platform, Sun Yuchen hopes that when these Restaking projects take off, platform users can all benefit from Restaking.

2. With a calm mindset, mine a little "self-defense," what if the returns are good?

For novice users, due to the complexity of on-chain operations, compared to directly staking funds in a protocol for lock-up, novice users are more inclined to trust exchanges because the deposit and withdrawal of exchanges are very convenient, and the custody of assets is also the responsibility of the exchange.

In popular terms, when the inscription is hot, it is often said "to have a little self-defense," what if there is a sudden surge? Similarly, for participating in Restaking, one may also need to be more "casual."

Sun Yuchen admitted that not every project will be successful. Huobi HTX will do its best to select good projects with high value and certainty, but one should have the mindset of "mining is better than not mining," what if it succeeds. As long as the risk is controlled, there are many opportunities to get rich in a bull market.

At the end of the live broadcast, Sun Yuchen also shared his views on the cryptocurrency market for the year. He believes that the overall development of the cryptocurrency field in the Year of the Dragon will definitely be good. From this perspective, the Huobi HTX platform is willing to seize this opportunity for wealth together with users. Huobi HTX will closely follow new trends and make layouts at the first time, "the plan lies with people, the success lies with heaven."

Restaking is still in the relatively early stage, and it is expected to see a big outbreak of the Restaking ecosystem in the bull market of 2024. Pay attention to and participate in the Liquid Restaking (liquidity restaking) launched by Huobi HTX on February 29 at 17:00 (UTC+8), to gain early dividends and receive early airdrops of star projects, and share a reward pool of $50 million.

Trade with Huobi, registration link: https://www.huobi.com.sn/zh-cn/v/register/double-invite/web/?invitecode=ymcx6223&inviterid=11354800

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