Kraken, one of the longest-standing, most liquid and secure cryptocurrency platforms, has completed an integration with EigenLayer to enable Kraken clients to seamlessly restake assets from the platform, creating new opportunities to put their crypto wealth to work.
Restaking enables validators and stakers to secure decentralized applications on Ethereum using already-staked assets. Projects built on EigenLayer ā called Actively Validated Services (AVS) ā benefit from the underlying network security and may provide additional staking rewards, typically in the applicationās native token or ETH.
With Kraken, clients can now directly restake any ETH they have already staked on the platform, and receive additional staking rewards from the AVSs they support. By allowing access through its user-friendly platform, Kraken is leveraging its existing reach to introduce restaking to a much broader audience than ever before.
āRestaking has been one of the most noteworthy developments of 2024, but so far only the most technically-advanced users have taken advantage of its opportunities,ā said Mark Greenberg, Global Head of Asset Growth & Management at Kraken. āAs the vast majority of crypto users already interface with CEXs, this integration makes restaking immediately more accessible to a broader range of clients. Tokens paid out in rewards can be held on Kraken or traded for fiat or other cryptocurrencies.ā
Kraken subsidiary Staked, a leading EigenLayer operator, is the validator for ETH restaked using Kraken. Not available in the US and other geographic restrictions apply.
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