The restaking gold rush is over, and top protocols are barely making a profit
Why now
Thesis: Restaking economics failing as risk outweighs reward
Catalyst to watch: Further protocol pivots or yield declines
Main risk: Smart-contract losses could accelerate exits
Why it matters
Falling restaking yields and smart-contract risk are pushing a top protocol to abandon its core business, signaling weaker crypto-native revenue models.
Details
As restaking yields dried up and smart-contract risks mounted, Ethereum's top liquid restaking protocol walked away from its core business to build a crypto neobank instead.
Sources
- coindesk · 2026-09-28 16:24 UTC