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Ethereum liquid restaking protocol shifts from restaking to a neobank

The move follows dried-up restaking yields and rising smart-contract risks.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Ethereum's leading liquid restaking protocol has exited its core restaking business to build a crypto neobank.

The outlet attributes the pivot to restaking yields drying up and smart-contract risks increasing, which have pressured profitability.

According to CoinDesk, the protocol's core restaking operations were only barely profitable as the sector faced higher risk and weaker returns.

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