What is Astrid Finance? In the current Crypto market, especially the Liquid Restaking segment, is witnessing the development and emergence of many new protocols. This is quite understandable as Restaking has become a very hot keyword and is predicted to be one of the Big Narratives for the middle of this year.
Today, everyone, let’s learn about Astrid Finance – a new rookie in the Liquid Restaking field to see what’s special about the project.
Overview of Astrid Finance
What is Astrid Finance?
Astrid Finance is a Liquid Retaking protocol on the Ethereum network and built around the Eigen Layer. Astrid Finance is currently allowing users to deposit LSTs (Liquid Staking Token) Tokens such as stETH – Lido Finance, rETH – Rocket Pool, cbETH – Coin Base into the reStaking Pool and the protocol will give the user a Liquid Restaking Tokens (LRTs) represent the number of LSTs just sent into the protocol.
User LST Tokens when deposited into the protocol will be retaken on EigenLayer and delegated to different Operators selected by Astrid DAO.
The amount of reward generated will automatically be retaken into the Eigen Layer and when users hold LRTs Tokens from the protocol, they will see the balance change automatically.
Mechanism of action
Liquid Restaking mechanism of action
Astrid Finance’s operating mechanism is quite simple.
- Step 1: Users deposit LST Token into the Restaking Pool to mint an equivalent amount of LRT Token. (For stETH, rETH, cbETH, the corresponding LRT Tokens will be rstETH, rrETH, rcbETH).
- Step 2: The pool containing LST Token will be divided and sent to many Delegators selected by Astrid, and ready to retake on the Eigen Layer. The amount of LST Token for each Delegator will be decided through the council.
- Step 3: For each Delegator Smart Contract, Astrid Govenance will adjust performance and monitor Operators operating on the Eigen Layer.
Astrid DAO will take 10% commission from the reward coming from Operators operating on EigenLayer’s AVS layer. The remaining 90% will be swapped to LST Tokens and deposited back into the Astrid Restaking Pool – this allows Restakers to receive more profits.
The balance of users holding LRT Tokens will be automatically updated daily and it is always 1:1 ratio with LST Tokens in the Restaking Pool.
Development Roadmap
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Core Team
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Investor
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Tokenomics
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Exchanges
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Project Information Channel
- Website: https://astrid.finance/
- Twitter: https://twitter.com/AstridFinance
- Discord:
Summary
Liquid Restaking projects are appearing more and more. For retail investors, choosing a good project to invest in requires careful consideration. Hopefully through this article I have given everyone general information about what Astrid Finance is so that everyone can make reasonable investment decisions for themselves.
