Announcing New Restaking Service: Coinbase’s cbETH

March 19, 2024
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We're thrilled to announce an exciting development for all InceptionLRT users: the ability to restake cbETH, Coinbase's innovative solution for Ethereum staking.

TL;DR:

  • InceptionLRT now offers the ability to restake cbETH, enhancing its staking options for users.
  • cbETH represents Ethereum staked through Coinbase, providing benefits like a competitive APY and compatibility with a wide range of DeFi applications.
  • Coinbase ensures cbETH's security and flexibility, making it a secure option for Ethereum stakers.

This announcement marks a significant step forward for InceptionLRT, helping us further our mission to enhance value and provide comprehensive staking options to our users.

Let's dive deep into what cbETH is, its relationship with Coinbase, and why this development is pivotal for the DeFi ecosystem and our platform.

What is cbETH?

cbETH, or Coinbase Wrapped Staked ETH, is a utility token that represents Ethereum staked through Coinbase. Launched in June 2022, it's designed to simplify and secure ETH staking by offering DeFi advantages and enhanced liquidity​​​​.

By wrapping staked ETH into cbETH, users gain the flexibility to trade or transfer their staked ETH ahead of upcoming Ethereum upgrades. As an ERC-20 token, cbETH equates to one staked ETH plus accumulated staking rewards, ensuring that stakers don't miss out on earning potential during their investment period.

The Advantages of cbETH

Coinbase has positioned cbETH as a key player in the DeFi space by ensuring its compatibility with a wide range of DeFi applications.

cbETH provides a solid Annual Percentage Yield (APY) and the potential for additional earnings through engagement with DeFi protocols. It is one of the most established and secure liquid staking tokens in the market, including practices to minimize slashing risks, diversification of node operators, clients, and hosting​​.

unnamed.png [1] - cbETH Market Stats (Source)

Here is a brief overview of cbETH’s defining features:

  • Innovation in DeFi: cbETH is a pioneering step towards integrating traditional finance with decentralized finance, making it easier for users to enter the DeFi ecosystem.

  • Security and Flexibility: By prioritizing high security and collaborating with reputable validators, Coinbase ensures that cbETH remains a secure and flexible option for Ethereum stakers.

  • APY and Earning Potential: Coinbase offers a competitive APY on cbETH, with the added advantage of earning potential through DeFi protocols. The APY can fluctuate based on market dynamics and participation in different DeFi platforms.

The Integration of cbETH Restaking on InceptionLRT

The introduction of cbETH restaking on InceptionLRT is opening up new avenues for our users to maximize their staking rewards and participate in the broader DeFi ecosystem.

Our high-quality restaking services and collaborations with the likes of Coinbase and Binance have positioned InceptionLRT as one of the go-to staking protocols.

As we continue to expand our offerings, making them more secure and flexible, we invite everyone to join us in exploring the vast possibilities within the DeFi landscape. Visit InceptionLRT, explore the newly added cbETH token, and restake with us!

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