Restaking Trinity with EigenLayer and Babylon
Multi-chain Restaking for Privacy, Security, and Rewards
Today, we are announcing Multi-chain Restaking Trinity with Eigenlayer and Babylon.
Just by staking on Hana Network, users can make magical things.
The concept is like this,
“Your Earn brings Your Privacy, Security, and Rewards”
What is Hana Network?
Hana Network is the gateway for EigenLayer and Babylon, focusing on user-onboarding apps.
At a high level, technically, Hana Network is a Proof of Stake (PoS) blockchain built on the Cosmos SDK and Tendermint consensus engine with Privacy pool and with Threshold Signature Scheme (TSS) to connect with Ethereum, Bitcoin and other L1/L2s. Also, as a killer app on Hana, the trustless on-off ramp has been released and has about 200k users now.
Let’s dive right in and explore it more deeply.
How it works?
Let’s take a simple look at the flow of users and assets and the resulting effects.
<User Flows>
- Users stake ETH & BTC on Hana Network
- Hana Network stakes ETH to Eigenlayer & BTC to Babylon
- Hana gets ETH security by using Ethos, BTC security by using IBC
First, users deposit assets to a TSS address on Ethereum or Bitcoin, then, Hana Network stakes the assets to Eigenlayer and Babylon. In this situation, there is an option to indirectly stake EigenLayer by staking LRTs and LSTs instead of directly staking EigenLayer. At last, as a PoS blockchain, Hana Network gets security from Eigenlayer through Ethos and Babylon through IBC.
https://ethosstake.com/introduction-to-ethos/
<Positive effects>
The more users staking, the more users get the following benefits:
・Maximizing BTCÐ Security
・Maximizing the Privacy Pool size
・Maximizing Rewards from Hana+Eigen+Babylon
First, regarding security, not only can Hana Network gets security from EigenLayer and Babylon, but Hana can also bring positive feedback to ETH security as a staker.
Next, about privacy, the staked liquidity also contributes to the size of privacy pool. The larger privacy pool size, the greater obfuscation effect.
And, needless to say, the rewards from Hana also increase according to liquidity.
Moreover, it also maximizes liquidity on the on-off ramp applications on Hana Network and directly contributes to EigenLayer and Babylon’s TVL.
The new magical UX
Hana Gateway + Multi-chain Restaking brings a new magical UX.
Hana Gateway is the gateway platform on Hana Network with trustless on/off ramp without CEX. Hana Gateway testnet has already released and has about 200k users now.
More details👇
The collaboration between Hana Gateway and Multi-chain Restaking will allow for seamless one-stop Fiat to staking, as shown in the flow above. This is Magic like never before.
What is Next?
Currently cooking for the next testnet, and will be the interface for Eigenlayer and Babylon ecosytems, creating new network effects. Also looking for collaborations to give positive feedback for LRTs and LSTs. Stay tuned for the next updates!
