The restaking narrative is evolving beyond Ethereum. Once dominated by EigenLayer and its ecosystem of Liquid Restaking Tokens (LRTs), the sector is now expanding rapidly across Bitcoin and Solana, fueling a new wave of innovation, investment, and user engagement. With high-profile funding rounds, multi-chain ambitions, and novel tokenomics, restaking has become one of the most dynamic frontiers in decentralized finance.
This article explores the leading restaking protocols across major blockchains—Ethereum, Bitcoin, and Solana—highlighting their unique value propositions, recent developments, and opportunities for users and investors alike.
The Ethereum Restaking Power Trio: EigenLayer, Symbiotic, and Karak Network
Ethereum remains the epicenter of the restaking revolution. At its core are three influential players: EigenLayer, Symbiotic, and Karak Network—each redefining how capital can be reused to secure decentralized systems.
EigenLayer: The Pioneer Facing Controversy
As the original architect of restaking, EigenLayer continues to dominate with over $14.9 billion in total value locked (TVL) as of July 2025. It allows users to re-delegate their staked ETH or Liquid Staking Tokens (LSTs) to secure additional services known as Actively Validated Services (AVSs).
Despite its success, EigenLayer has faced backlash over its EIGEN token distribution. Announced in April 2025, the token’s initial non-transferability sparked widespread criticism. Users were unable to trade or transfer their airdropped EIGEN tokens—a move perceived by many as restricting liquidity and user freedom.
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Adding to the frustration, EigenLayer introduced IP restrictions only at the time of airdrop, despite not enforcing them during early participation. This last-minute change led to accusations of unfairness.
Yet, market confidence remains strong. TVL climbed from $14B in May to a peak of $19B in June before settling around $14.9B. Over 16% of all staked ETH is now engaged in restaking via EigenLayer or Karak Network. On-chain data shows sustained user activity, suggesting long-term belief in the protocol’s vision.
With EigenLayer hinting at “major updates” in Q3 2025, speculation is mounting that EIGEN will soon become transferable. Currently, EIGEN trades off-chain on secondary markets like Whalesmarket at approximately $5.39.
Symbiotic: The Lido-Backed Challenger
Emerging as a direct competitor to EigenLayer, Symbiotic launched in May 2025 with backing from Lido’s co-founders and Paradigm. It raised $5.8 million in seed funding and quickly amassed over $1 billion in TVL within weeks.
Unlike EigenLayer, which focuses on ETH and LSD derivatives, Symbiotic supports a broader range of assets—including stETH, cbETH, ENA, and even stablecoins like USDe. This flexibility enables protocols to launch native restaking for their own tokens, enhancing cross-protocol security.
Symbiotic also offers modular customization: developers can define their own node operators, reward structures, and slashing conditions. This contrasts with EigenLayer’s centralized delegation model.
Today, Symbiotic holds a TVL of $10.9 billion, with 70% coming from wstETH deposits—a clear sign of Lido’s deep integration.
Mellow: Modular LRT Infrastructure on Symbiotic
Built atop Symbiotic, Mellow functions as a modular LRT builder. It allows entities—from hedge funds to staking providers—to create custom LRTs with tailored risk-return profiles.
Users deposit ETH into Mellow, which automatically converts it into stETH via Lido and then restakes it through Symbiotic—earning both Mellow and Symbiotic points simultaneously.
With $488 million in TVL and over 37 million points distributed by mid-July 2025, Mellow exemplifies how layered yield strategies are gaining traction.
Karak Network: Multi-Asset, Multi-Chain Restaking
Karak Network mirrors EigenLayer’s architecture but introduces critical differentiators: support for non-ETH assets and multi-chain deployment.
Karak enables restaking of not just ETH and LSTs, but also major stablecoins like USDT, USDC, DAI, and USDe. This opens restaking to a wider pool of capital beyond proof-of-stake ecosystems.
Additionally, Karak operates across multiple chains—including Ethereum, Arbitrum, BSC, Blast, and Mantle—allowing users to leverage geographically distributed assets.
Though Karak's TVL exceeds $1 billion, the platform has temporarily paused new deposits due to demand overflow—a testament to its growing popularity.
Bitcoin Enters the Restaking Arena
Bitcoin’s entry into restaking marks a pivotal shift. Traditionally limited by its lack of smart contract functionality, BTC is now being leveraged for security provisioning through innovative protocols.
Babylon: Bringing Staking to Bitcoin
Babylon is pioneering Bitcoin restaking by enabling BTC holders to securely stake their coins to external protocols without custodianship. This allows PoS chains and middleware layers to inherit Bitcoin’s robust security—reducing costs while increasing trust.
Functionally similar to EigenLayer but adapted for Bitcoin’s UTXO model, Babylon first makes BTC "stakeable" before enabling restaking—a two-step innovation critical for non-smart-contract chains.
In May 2025, Babylon raised $70 million** from Paradigm, bringing total disclosed funding to **$96 million. Backers include Polychain Capital, Binance Labs, and Framework Ventures.
Users can already test BTC staking via Babylon Testnet4.
Lombard: Babylon’s LRT Layer
Like Renzo is to EigenLayer, Lombard serves as Babylon’s primary LRT protocol. In July 2025, it secured $16 million in seed funding led by Polychain Capital.
Depositing BTC into Lombard mints LBTC, a liquid restaking token that can be used across DeFi for lending, trading, or further yield generation—unlocking capital efficiency for otherwise locked BTC.
White list sign-ups are open via email registration.
Lorenzo: Dual Rewards on Babylon
Another LRT built on Babylon, Lorenzo, lets users pre-stake BTC to earn both Lorenzo points and future Babylon rewards. Backed by Binance Labs, Lorenzo aims to onboard early adopters ahead of Babylon’s mainnet launch.
Users receive stBTC upon deposit—setting the stage for dual-point farming once live.
BounceBit: A Dedicated Bitcoin Restaking Chain
BounceBit takes a more integrated approach—a full chain designed specifically for BTC restaking.
Its ecosystem includes:
- BounceBit Chain: The core restaking layer
- BounceBit Portal: User interface
- BounceClub: A hybrid CeFi/DeFi hub
When users deposit BTC, they receive BBTC, a wrapped asset used for:
- Hybrid node staking with BB (native token)
- Participation in DeFi applications
- Further restaking to amplify yields
Backed by Binance Labs and OKX Ventures, BounceBit raised $6 million in seed funding earlier in 2025. By July 2025, BB trades at $0.40 with an FDV of $800 million.
Solana’s Restaking Ecosystem Takes Shape
Solana is not far behind. At least six teams are developing restaking solutions tailored for its high-speed environment.
Solayer: Native SOL Restaking
Solayer supports restaking of SOL and LSTs like mSOL and JitoSOL. With over $105 million in TVL by mid-July 2025 and support from Solana co-founder Anatoly Yakovenko, Solayer is positioning itself as the go-to protocol for Solana-native restaking.
It recently closed a builder round with notable investors including Sandeep Nailwal (Polygon) and Richard Wu (Tensor).
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Cambrian: Upcoming Entrant with Big Plans
Cambrian is finalizing a $2.5 million raise at a $25 million valuation. The team plans to launch its network and point system in Q3 2025, targeting both SOL and LST restaking.
No products are live yet, but anticipation is building.
Picasso: Cross-Chain Roots Meet Solana
Originally from Polkadot, Picasso expanded into Solana restaking in January 2025. It supports SOL and popular LSTs like JitoSOL and mSOL for securing AVSs.
However, adoption remains low—with only $3.75 million in locked value as of July 2025.
Frequently Asked Questions (FAQ)
Q: What is restaking?
A: Restaking involves reusing already staked crypto assets (like stETH) to provide security for additional protocols or services, thereby earning extra yield while increasing network security.
Q: Why is Bitcoin entering restaking now?
A: Innovations like Babylon have solved technical barriers, allowing BTC holders to earn staking rewards without compromising decentralization—opening new yield opportunities for the largest cryptocurrency by market cap.
Q: Can I use stablecoins for restaking?
A: Yes—protocols like Karak Network and Symbiotic allow stablecoins such as USDC, DAI, and USDe to be restaked—expanding access beyond traditional staking assets.
Q: Are LRT tokens risky?
A: Yes—LRTs carry smart contract risk, slashing exposure, and potential depegging if underlying assets lose value. Always assess protocol audits and TVL before depositing funds.
Q: How do I earn points in restaking protocols?
A: Most platforms distribute “points” or “credits” based on deposit size and duration. These often signal eligibility for future token airdrops or governance rights.
Q: Is EigenLayer safe despite controversy?
A: While the non-transferable EIGEN token caused backlash, EigenLayer remains one of the most audited and capitalized protocols in DeFi—with over $14B TVL indicating strong market trust.