Dear CoinEx users,
To provide you with more trading options, after rigorous reviews, CoinEx will list RSTK(Restake Finance) on Jan 12, 2024 (UTC). The details are as follows.
List Time
1. Deposit: 07:00 on Jan 12 (UTC)
2. Withdrawal: 07:00 on Jan 12 (UTC)
3. Trading pair: RSTK/USDT
4. Opening method: Call Auction
a. Call Auction
07:00-09:50 Jan 12 (UTC)
Orders can be placed and canceled
09:50-10:00 Jan 12 (UTC)
Orders can be placed but cannot be canceled
b. Trading
10:00 Jan 12 (UTC)
About RSTK
Rehypothecation enables LSTs to be used as cryptoeconomic security for actively validated services part of EigenLayer. Restake Finance is proposing a decentralized approach for the rehypothecation of yield.
Users can liquid restake their LSTs in EigenLayer through the introduction of our restaked ETH token (rstETH). They will deposit LSTs (e.g. stETH) into our protocol and will receive rstETH in return – a tokenized version of their EL contribution. Their LSTs will be deposited into EL through DAO-controlled smart contracts and they will be earning Ethereum staking returns in addition to EigenLayer native returns. rstETH is decentralised and always fully backed one-to-one by stETH.
Restake Finance will be powered by the Restake Finance DAO, which will ensure that the project remains true to its decentralized nature and that its development aligns with the interests of its stakeholders. The DAO will be governed with the use of its utility and governance token – RSTK. Its core goal is to accrue value to token holders – through governance and yield generation. The system will be applying a fee on all EigenLayer restaking rewards that will be shared with RSTK token holders.
About Automated Market Making (AMM)
AMM is supported for the RSTK/USDT market. CoinEx AMM allows every user to become a market maker. By adding liquidity to the liquidity pool, users can share 50% of the trading fees earned in this market. The fee dividends are calculated daily. Learn about AMM >>
Risk Reminder
Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.
CoinEx reserves the final interpretation of this announcement.
CoinEx Team
Jan 12, 2024
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