La guía definitiva sobre la liquidez de restaking en 2026: cómo desbloquear la próxima frontera de rentabilidad y liquidez en DeFi

Bitcoin price has surged past $89,000, while Ethereum has also crossed the $3,000 mark. As the value of major crypto assets climbs, investors are increasingly focused on how to unlock greater returns from their existing holdings—beyond simply holding. Liquid restaking is rapidly evolving from a technical concept into a powerful market force that can’t be ignored.

Concept Breakdown: The Evolution from Staking to Restaking

To understand liquid restaking, it’s important to first review the evolution of blockchain security mechanisms. In proof-of-stake (PoS) systems, users stake their assets to help secure the network and earn rewards—this forms the foundation of traditional staking.

Liquid staking takes this a step further. After users stake their assets, they receive corresponding liquid staking tokens (LSTs). These LSTs can be freely used within the DeFi ecosystem, while the original staked assets continue to generate rewards. This approach solves the key pain point of traditional staking, where liquidity is locked up.

Liquid restaking builds on this innovation. It allows users to put their LSTs to work again, supporting other protocols or services that require security, and in return, earn additional rewards. This process gives rise to a new class of tokens—liquid restaking tokens (LRTs). These tokens represent not only the original staked assets but also the additional yield rights from restaking.

From a technical perspective, the core mechanism of liquid restaking is "re-collateralization"—the same collateral can simultaneously back multiple financial activities. This model dramatically boosts capital efficiency, unlocking far greater value from staked assets.

Key Advantages: Why Is the Market So Bullish on Restaking?

Compared to traditional staking, the standout advantage of liquid restaking is its ability to break through the security boundaries of a single network.

Through LRTs, stakers’ assets can simultaneously provide security for multiple blockchain protocols. This means users can earn rewards from various sources, significantly increasing their overall yield.

A leap in capital efficiency is another major benefit. In traditional staking, once assets are staked, they’re locked within a single network and can’t be used elsewhere. With liquid restaking, the same assets can remain staked while LRTs allow them to generate value in other protocols. This "one asset, multiple uses" model greatly enhances asset utilization.

For the entire DeFi ecosystem, liquid restaking offers a shared security solution. New projects no longer need to build their own validator networks and security budgets from scratch—they can leverage the security of established networks like Ethereum, lowering the barrier to innovation. At the same time, liquid restaking also lowers the entry barrier for everyday investors. Through LRT protocols, users can participate in the restaking ecosystem without complex node operations or meeting the high asset requirements of native restaking.

Potential Risks: The Complex Challenges Behind High Yields

Like any financial innovation, liquid restaking comes with significant risks.

Smart contract risk is the most immediate challenge. Liquid restaking involves complex interactions between multiple protocols and smart contracts, and a vulnerability in any link can lead to asset losses.

Regulatory uncertainty is another major concern. The US Securities and Exchange Commission (SEC) and other regulators have already issued warnings about liquid staking, likening it to the high-risk behaviors that led to the 2008 Lehman Brothers crisis. As regulation tightens, related protocols may face compliance challenges.

Liquid restaking also introduces more complex systemic risks. Since assets are reused to secure multiple protocols, a problem in one protocol could trigger a chain reaction, leading to the liquidation of collateral across several interconnected protocols.

Additionally, depegging risk deserves attention. While LRTs are theoretically pegged to their underlying assets, price deviations can occur during periods of market imbalance or panic. There’s also slashing risk: if validators misbehave, the original staked assets may be penalized, impacting the value of LRTs.

Market Landscape: Leading Protocols and Selection Criteria

The liquid restaking market has developed into a highly competitive and diverse landscape.

EigenLayer is the pioneer in this space, allowing users to restake their ETH to support other networks or services and earn additional rewards on top of their original staking yield. Its success has inspired a wave of similar protocols.

Non-custodial solutions like Ether.fi offer another option. Users retain control of their private keys, and the eETH received after staking can be used for restaking or other DeFi activities. These protocols are more decentralized and appeal to users who prioritize asset control.

Cross-chain restaking protocols are also on the rise. Karak Network supports restaking not only for ETH and various LSTs but also for stablecoins like USDT and USDC, deploying across multiple chains to give users more flexible asset choices.

For Bitcoin holders, Babylon offers a unique solution: it enables native BTC to participate in securing PoS chains without cross-chain bridges. By staking BTC directly, users can help secure other chains and earn rewards—opening up a new income stream for Bitcoin holders.

With so many options, investors should consider several key factors: the protocol’s audit record and security history, supported asset types, fee structure, withdrawal mechanisms, and liquidity management strategies. For risk-averse investors, choosing mature protocols with insurance mechanisms or those that have undergone multiple audits may be the safer route.

Practical Guide: How to Participate in the Liquid Restaking Ecosystem

The first step in participating in liquid restaking is understanding your own risk tolerance and return objectives. Different protocols offer distinct risk-reward profiles, ranging from the relatively conservative EigenLayer to more innovative cross-chain protocols.

Preparing your funds is essential. In addition to the assets you plan to restake, you’ll also need to set aside tokens to cover transaction fees. The specific assets required depend on the technical architecture of your chosen protocol.

Once you’ve selected a suitable protocol, the standard participation process typically includes: depositing assets into the protocol, receiving the corresponding LRTs, and then using these LRTs within the DeFi ecosystem to earn additional yield.

Advanced users seeking to maximize returns may consider more complex strategies like "leveraged restaking." For example, after staking ETH and receiving ezETH, you could use it as collateral to borrow more ETH, then repeat the staking process. While this can significantly boost capital efficiency, it also increases risk.

Risk management is crucial for ongoing participation. It’s wise to keep restaked assets within an appropriate proportion of your portfolio to avoid over-concentration. Regularly monitor the market performance of your LRTs, protocol updates, and governance changes, and adjust your strategy as needed.

Competition among liquid restaking protocols has now spread from Ethereum to Solana, Bitcoin, Cosmos, and beyond. As technology advances and regulatory frameworks take shape, the field will continue to mature. Investors now face a complex decision matrix shaped by capital efficiency, risk appetite, and future expectations—staking is no longer a simple choice.