The cryptocurrency sector has witnessed the launch of Karak, a new restaking layer designed to facilitate the use of staked assets across various blockchains. Karak Restaking, now live, allows users to deposit assets from Arbitrum, Ethereum, or directly through Karak using codes such as XtH6F. This development is significant as it enables asset migration for those who participated in the Early Access campaign. Karak has quickly gained attention for its potential, with some suggesting it could become the largest Total Value Locked (TVL) restaking platform this year. Its innovative approach has also led to a valuation of $1 billion, highlighting its underfarmed restaking protocol. Notably, Karak offers a unique $rswETH pool that rewards users with Karak points, swell points, eigenlayer points, and staking rewards. The platform appears to be invite-only at the moment, requiring codes for access like ia8QF, IQnsk, Javnp, IOiGJ, and 0bXQE. The broader liquid restaking sector has also seen remarkable growth, with the combined TVL of liquid restaking protocols reaching $10 billion. Karak Network's universal restaking layer aims to reduce the need for individual validator rewards by securing new protocols with staked assets from multiple blockchains.
Now tracking Karak on @Karak_Network , @ethereum & @arbitrum A universal restaking layer https://t.co/8JWVe6eUVi
Now tracking @Karak_Network Karak Network is a universal restaking layer that enables the use of staked assets from various blockchains to secure new protocols, reducing the need for their own validator rewards https://t.co/dDaLpe2drL
Liquid Restaking Reaches $10B in TVL Combined, liquid restaking protocols have reached a total value locked (TVL) of $10 billion and continue to experience rapid growth. https://t.co/bSnosdLp6O
Karak prob the most underfarmed restaking protocol and just raised at $1B val I like the $rswETH pool which gives you karak points, swell points, eigenlayer points and staking rewards if u need a code to enter (seems invite only atm) use: ia8QF IQnsk Javnp IOiGJ 0bXQE https://t.co/OkC54ONxn6 https://t.co/477oVRXCa9
Restaking for Everyone Karak prob the largest TVL restaking platform this year tbh https://t.co/2ZlhiDSaf1
Karak Restaking is Live 1️⃣ Visit: https://t.co/MhcTUZb48T 2️⃣ Enter a code: XtH6F 3️⃣ Deposit assets from Arbitrum, Ethereum, or Karak If you deposited assets to Karak during the Early Access campaign, you can now migrate your assets to Karak Restaking. https://t.co/OhLeh4JvdQ
A new restaking layer enters the market: Meet Karak https://t.co/TB9VCtO8zq