[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f129hykyle0gvm":3},{"_id":4,"slug":5,"title":6,"subtitle":7,"kind":8,"cards":9,"tags":57,"categories":59,"source":61,"lang":64,"author":65,"audioState":68,"stats":69,"publishedAt":72,"renderer":73},"6abaa313ca21c797c7e9a1bd","the-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f","The restaking gold rush is over, and top protocols are barely making a profit","As restaking yields dried up and smart-contract risks mounted, Ethereum's top liquid restaking protocol walked away from its core business to build a crypto neobank instead.","news",[10,12,17,22,27,32,37,42,47,52],{"headline":6,"body":7,"imageUrl":11,"sourceImageUrl":11},"https:\u002F\u002Fcdn.sanity.io\u002Fimages\u002Fs3y3vcno\u002Fproduction\u002F7eaf553e8abf889a62ef0301a3a12b6d6e1ddce6-4498x3000.jpg?auto=format&fit=crop&crop=focalpoint&w=1920&h=1080&q=75",{"headline":13,"body":14,"imageUrl":15,"images":16},"Ether.fi will sever its last structural tie to","Ether.fi will sever its last structural tie to EigenLayer this quarter, leaving under 1% of assets restaked, and CEO Mike Silagadze says the exit came down to risk with no meaningful yield left in restaking.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F1.webp",{"local":15},{"headline":18,"body":19,"imageUrl":20,"images":21},"Restaking secures $10 billion but generated just $99,977","Restaking secures $10 billion but generated just $99,977 in fees over a week, while plain liquid staking earns roughly 53 times more per dollar secured.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F2.webp",{"local":20},{"headline":23,"body":24,"imageUrl":25,"images":26},"The five largest remaining liquid restaking tokens made","The five largest remaining liquid restaking tokens made $953,350 in combined gross profit last quarter, down from $2.18 million three quarters earlier.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F3.webp",{"local":25},{"headline":28,"body":29,"imageUrl":30,"images":31},"By the end of this quarter, ether.fi will","By the end of this quarter, ether.fi will have cut the last structural link between its staking tokens and restaking protocol EigenLayer. Protocol documentation put under 1% of assets still restaked as of August with EigenPod withdrawal credentials due to be removed by the end of the year.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F4.webp",{"local":30},{"headline":33,"body":34,"imageUrl":35,"images":36},"When ether.fi launched in 2024, deposits were restaked","When ether.fi launched in 2024, deposits were restaked on EigenLayer automatically. In August the company stripped restaking out of weETH, the version of its token that circulates and is accepted as collateral across DeFi, leaving it as a plain liquid staking token. Anyone who still wants restaking has to opt into a separate token built on Symbiotic, a rival platform.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F5.webp",{"local":35},{"headline":38,"body":39,"imageUrl":40,"images":41},"Mike Silagadze, ether.fi's chief executive, said the decision","Mike Silagadze, ether.fi's chief executive, said the decision came down to risk. \"There were no meaningful yield opportunities in restaking and there was some perceived risk from stakers, so we decided it made sense to exit,\" he told CoinDesk. What restaking was meant to be","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F6.webp",{"local":40},{"headline":43,"body":44,"imageUrl":45,"images":46},"Staking means locking up ETH to help secure","Staking means locking up ETH to help secure Ethereum, in return for a yield. Restaking was the idea that the same locked ETH could do a second job: EigenLayer would rent that security out to other services, such as oracles and data availability layers, which would pay for the protection. Depositors would earn twice on one pot of money. Liquid restaking tokens sat on top of that, giving depositors a tradable receipt that they could sell or use as collateral elsewhere rather than locking their ETH away and waiting. weETH was the largest of them.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F7.webp",{"local":45},{"headline":48,"body":49,"imageUrl":50,"images":51},"EigenLayer held $19.7 billion at its peak and","EigenLayer held $19.7 billion at its peak and liquid restaking tokens grew more than 1,000% in the first six weeks of 2024. But the services buying security never paid enough to cover both the base staking yield and a premium on top, so the second yield restaking promised never materialized.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F8.webp",{"local":50},{"headline":53,"body":54,"imageUrl":55,"images":56},"On Sept. 8, DefiLlama's restaking category held $10.02","On Sept. 8, DefiLlama's restaking category held $10.02 billion and generated $99,977 in fees over the prior week. The liquid staking category, on $51.87 billion, generated $27.35 million. Per dollar secured, ordinary staking earns roughly 53 times more.","\u002Fapi\u002Fmedia\u002Fposts\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-acdf696f\u002F9.webp",{"local":55},[58],"crypto",[60],"Business & Money",{"name":62,"url":63},"CoinDesk","https:\u002F\u002Fwww.coindesk.com\u002Fbusiness\u002F2026\u002F09\u002F28\u002Fthe-restaking-gold-rush-is-over-and-top-protocols-are-barely-making-a-profit","en",{"handle":66,"displayName":67},"spots","Spots","queued",{"views":70,"likes":71,"saves":71,"shares":71,"completions":71,"opens":71,"skips":71,"depthSum":71},3,0,"2026-09-28T17:25:39.119Z","local"]