How Can AI and Onchain Data Empower Your Restaking Strategy？
Restaking Overview
Restaking is a significant trend shaping 2024, led by EigenLayer. Utilizing Ethereum’s security framework, EigenLayer swiftly empowers diverse applications and infrastructure. EigenLayer operates as a decentralized trust market, reducing costs and bolstering network security.
However, users opting to restake through EigenLayer face a seven-day withdrawal period, keeping their assets illiquid. To address this, liquid restaking protocols have emerged. Platforms like Ether.fi, Renzo, and Puffer Finance act as intermediaries, restaking user deposits with EigenLayer and issuing liquid restaking tokens (LRTs) in return. These tokens represent user deposits, allowing assets to be utilized across various DeFi protocols to generate additional yield.
Since the onset of the year, we’ve witnessed a rapid emergence of restaking protocols, accompanied by a growing awareness of the restaking narrative.
The introduction of Etherfi’s token in March marked a pioneering move within the LSD sector, triggering an upsurge in daily transactions. Similarly, the token launch by Renzo Protocol in May further invigorated the restaking ecosystem, driving increased participation and dynamism across the board.
Throughout the year, the Total Value Locked (TVL) in restaking protocols has steadily accrued. Notably, Etherfi and Renzo emerge as frontrunners in terms of TVL, boasting impressive figures of $6.16 billion and $2.83 billion, respectively. Puffer Finance trails closely behind, distinguishing itself with its Secure-Signer technology, developed to mitigate slashing risks and endorsed by the Ethereum Foundation.
As per the whales identified by SocialScan’s AI algorithm, Etherfi emerges as the preferred restaking protocol among large investors. This preference could be attributed to Etherfi’s withdrawal method, which is currently the only option available amid limited avenues for withdrawing restaked assets. Renzo Protocol follows a similar trend, correlating with its TVL pattern. The remaining protocols command relatively equal shares of whale participation.
SocialScan Restaking Agent
Navigating the complex landscape of restaking protocols and diverse staking assets can be overwhelming for users. To address this challenge, SocialScan has developed the Restaking Agent, designed to streamline user engagement and enhance the restaking experience.
Leveraging advanced AI technology, Restaking Agent acts as a personalized advisor, tailoring restaking strategies to meet the unique needs of each user. It goes beyond mere data aggregation, providing an easy-to-use platform for users to participate in restaking protocols effectively.
How to use Restaking Agent
To get started, navigate to SocialScan’s AI Agent hub, where you’ll find the Restaking Agent.
Connect Your Wallet
Once your wallet is connected, the Agent will automatically scan for available assets that can be restaked. It will clearly indicate where each asset can be restaked.
Interact with the AI Agent
As an AI-driven tool, you can ask the Agent anything about restaking protocols. It features three commonly asked questions at the bottom for quick access. You can also type in additional questions through the input box.
Explore Protocols
If you wish to learn more about a specific protocol, simply click on the protocol icon or ask the Agent, for example, “Can you tell me more about Renzo?” The Agent will provide both social information and onchain data, including Twitter, Discord, count of transactions, TVL, unique active wallets, etc. Additionally, it will display potential rewards, which vary by protocol.
Analyze User Data
The cumulative distribution chart offers a clear visualization of how other users are engaging with the protocol of interest. This information is crucial for making informed decisions on asset allocation, whether you aim to hedge risks or maximize airdrop rewards.
Broader Sector Insights
For a comprehensive overview of the restaking sector, you can ask, “Please tell me the restaking protocol with the highest TVL.” The Agent will provide a list of protocols ranked by TVL. This feature is also applicable to other metrics you care about.
Leverage Social Network Insights
With SocialScan’s unique social network, you can identify the whales in a project and see which projects they are investing in. If you want to learn more about a particular whale to uncover valuable insights, click on their profile to view their portfolio and latest on-chain transactions. If you find their activity interesting, you can follow them to receive notifications about their latest transactions.
About SocialScan
SocialScan is Community-owned AI reimagining web3 UX through customizable AI agents. It is a showcase application built on top of the Hemera Protocol, the higher performant AI-ready indexing network. Users of SocialScan can participate in activities to improve LLM capabilities, consequently gaining ownership according to their individual contributions. SocialScan is trusted by industry-leading blockchain platforms, including Polygon, Linea, Chainlink, Manta Network, Mantle Network, and ZetaChain.
