Eclipse Introduces tETH For Simplified Earning Of Restaking Rewards
In Brief
Eclipse launched tETH to simplify the process of earning restaking rewards by eliminating fragmented liquidity, time, and attention.
Ethereum Solana Virtual Machine (SVM) Layer 2 network Eclipse announced the launch of its first Unified Restaking Token (URT), tETH.
The new token integrates the most prominent yield-generating protocols on Ethereum into a single, user-friendly default yield token powered by the yield provider Nucleus. The new token simplifies the process for users to earn restaking rewards by eliminating the challenges of fragmented liquidity, time, and attention.
As per the announcement, pre-deposits for the token are now available. Users can now deposit various Liquid Restaking Tokens (LRTs), including eETH, ezETH, pufETH, rswETH, and others, into Eclipse, claim tETH, and engage with the Eclipse ecosystem. By doing so, they can earn rewards, such as staking rewards, AVS rewards, Nucleus points, and more.
Eclipse launches Mainnet And Opens It For Developers
Eclipse functions as a customizable rollup provider that supports multiple Layer 1 blockchains. Its architecture integrates the SVM for execution, utilizes the modular data availability network Celestia for data availability, and relies on Ethereum for settlement and consensus.
In March, the project successfully raised $50 million through a Series A funding round, which was led by prominent investors such as Placeholder, Hack VC, and Polychain Capital, along with several other notable backers.
Eclipse has previously launched both a developer network and a test network version of its protocol. These releases have attracted various decentralized applications (dApps) to test its infrastructure, including the non-fungible token (NFT) marketplace Rarible, the oracle infrastructure Pyth Network, and the lending protocol Solend.
Recently, Eclipse has launched its mainnet, making it accessible to developers. Currently, the network includes a centralized bridge and lacks operational fraud proofs, withdrawals, or forced inclusion mechanisms, which will be addressed in the future. The next phase of the mainnet rollout will involve making it available to the broader public.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
