29 January 2025

rstETH restaking guide on Mellow

P2P.org is excited to walk you through an exciting opportunity from Re7 Labs- the rstETH vault, a liquid restaking solution built on the Mellow protocol.

Understanding the rstETH Vault

The rstETH vault is curated by Re7 Labs and built on the Mellow protocol, offering an innovative approach to liquid restaking. Mellow provides both a user-friendly interface and the underlying protocol infrastructure, enabling the creation of Liquid Restaking Tokens (LRTs).

At the core of the vault's functionality is Symbiotic - a permissionless restaking protocol that offers flexible mechanisms for decentralized networks to coordinate node operators and security providers. The protocol's flexible and neutral design provides unique benefit for Mellow users.

Mellow allows the permissionless creation of modular LRTs (Liquid Restaking Tokens). It offers a series of vault smart contracts with different and unique properties, managed by LRT curators. One of these LRTs is rstETH, which represents an innovative approach to liquid restaking. When you deposit assets into the rstETH Vault, Mellow's smart contract mints LRT tokens at your request. The amount of rstETH tokens you will receive is almost equivalent to a 1:1 wstETH:rstETH ratio.

Restaking flow on the Mellow side

Follow these three steps to begin your restaking journey with the rstETH vault.
Here's how to get started:

Let’s dive deeper into the details.

Go to the rstETH restaking Vault page:
rstETH.mellow.finance

Connect your wallet, review, and confirm the terms.
Choose the tokens you want to deposit and proceed (note that your tokens will be converted to wstETH).
Click the deposit button and follow the prompts to sign the transactions. This will wrap your stETH into wstETH and deposit it into the Vault.
Congratulations!🎉 As a result, you receive rstETH.
You can put your rstETH to work and unlock the opportunities offered by Mellow Your rstETH tokens are compatible with a wide range of DeFi protocols.
Now, click on the protocol where you’d like to use your rstETH. For example, let’s select GearBox.
Be cautious, as you’ll be redirected to the protocol’s official website. In this case, it will be: https://app.gearbox.fi

image (16).png

a) Click on the protocol where you’d like to use your rstETH. For example, let’s select Gearbox Protocol.

b) Review the terms, parameters, strategy, and any other features the protocol offers to get the most of your rstETH. Remember, the metrics are only estimations, so take the time to assess everything carefully and ensure they align with your goals before proceeding.

c) Please pay attention that behind the scenes, the protocol will borrow wstETH to put them into the rstETH vault. And the looping strategy in general, works only when borrow rate is lower than token base status.

d) It is important to thoroughly understand the risks associated with looping strategies before using this service. To make the strategy better, Gearbox uses the mint price from the rstETH contract instead of DEX-based price feed.

e) Once you’ve reviewed all the details and feel confident about moving forward, follow these steps: connect your wallet, specify the amount of rstETH you want to deposit, adjust the parameters if needed, and click the “Deposit” button to finalize your transaction. Make sure to double-check everything before confirming.

f) Now, you can take advantage of the potential benefits provided by the rstETH protocol and its restaking strategy, while accessing the potential benefits from Gearbox (in this example).

What is Symbiotic and why is it important in this vault?
Symbiotic is a permissionless restaking protocol designed to support decentralized networks by aligning node operators and security providers. According to Symbiotic, the importance of this vault lies in its ability to provide a secure, adaptable and efficient restaking framework.

The protocol’s versatile and neutral design delivers unique opportunities :

Immutable core smart contracts on Ethereum.
Flexibility for all ecosystem players: Network builders control their restaking implementation, operator selection mechanics, and reward and slashing logic.
Capital-efficient multi-asset design.

What is Mellow?
Mellow is a modular infrastructure designed for creating Liquid Restaking Tokens (LRTs) with varying strategic frameworks. The system is fully permissionless, agnostic to underlying restaking protocols, and compatible with any assets.

Key Highlights:
• Flagship LRT for Symbiotic: Mellow will become the first and flagship LRT within the Symbiotic ecosystem.

• Security Approved: As a member of the Lido Alliance, Mellow has successfully passed security evaluations by the Alliance group.

• Strong Backing: Mellow’s 2021 fundraising round was led by Arrington Capital, ParaFi, and Robot VC, with contributions from Lemniscap, Primitive, and other notable VCs.

Why Mellow?
According to Mellow, their team has extensive expertise in developing advanced vaults and liquidity management systems. They highlight their experience in bootstrapping wstETH liquidity on mainnet for Lido and collaborating with leading protocols like Olympus, Velodrome, Aerodrome, Gearbox, and zkBob, where they’ve delivered sophisticated assets and ALM strategies.

Third-Party Incentives
For additional details, visit Mellow.Finance and Symbiotic.Fi. Please note that P2P.org does not manage or take responsibility for these incentive programs.

Risks assessment
This information is provided for general purposes only and reflects P2P.org’s subjective view of the project. It is not professional financial advice. Before deciding to participate, you should carefully review all materials on the Mellow and Symbiotic websites, thoroughly evaluate the associated risks, and consult with appropriate legal, financial, and tax advisors. Failure to do so may result in significant financial losses, P2P.org will not be held liable for any decisions made based on the information provided. Proceed at your own risk.

• Audited Smart Contracts: Symbiotic and Mellow smart contracts have been audited. The reports are available here and here.

• Immutable Symbiotic Contracts: Symbiotic smart contracts cannot be changed by the Vault curator.

• Controlled Upgrades for Mellow Contracts: Mellow smart contracts are upgradable, P2P.org as the Vault co-curator cannot modify the Vault contract or withdraw user funds. The responsibility for upgrades lies with a Lido & Mellow-managed multisig, meaning the primary risk relates to the security of that multisig.

Guide by: Denis Kozlov

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Filip Rawlik

Solana bbSOL Jito (re)estaking is Now Live!

<h2 id="heads-up-jito-bbsol-restaking-is-live"> Heads up! Jito bbSOL (Re)staking is Live.</h2>P2P.org is excited to announce the launch of a rstSOL vault as part of the <a href="https://www.jito.network/restaking/?ref=p2p.org">Jito (Re)staking</a> ecosystem, enabling users to restake their <a href="https://www.bybit.com/en/web3/staking/BybitSOL?ref=p2p.org">Bybit Staked Sol (bbSOL)</a>. As a confirmed operator for all Node Consensus Networks (NCNs) in the Jito ecosystem, we are proud to contribute to this groundbreaking moment for restaking on Solana.<h2 id="what-is-jito-restaking">What is Jito (Re)staking?</h2>Jito (Re)staking is a multi-asset staking protocol designed to enhance capital efficiency within the Solana ecosystem. Users can maintain liquidity while their assets are actively staked by tokenizing staked assets into Vault Receipt Tokens (VRTs). This approach allows stakers to participate in multiple NCNs simultaneously, thereby boosting potential rewards. Jito Restaking has undergone rigorous audits by leading security firms <a href="https://offside.io/?ref=p2p.org">Offside Labs</a> and <a href="https://osec.io/?ref=p2p.org">Ottersec</a> to ensure its reliability and safety.<h2 id="rstsol-vault-launch-with-tiprouter-ncn">rstSOL Vault Launch with TipRouter NCN</h2>On January 30th, P2P.org’s rstSOL vault will officially support its first NCN: TipRouter. TipRouter is a service designed to decentralize MEV tip distribution on Solana, allowing for a fairer and more efficient allocation of rewards.Restaking with P2P.org will generate rewards on the same day as the TipRouter launch, ensuring stakers can immediately benefit from their contributions. Initially, the rstSOL vault will work exclusively with TipRouter, with additional NCNs like Squads, Switchboard, and Sonic set to join in the future.<h2 id="rstsol-vault-accepts-bbsol-exclusively">rstSOL Vault Accepts bbSOL Exclusively</h2>In partnership with Bybit, the rstSOL vault will exclusively accept bbSOL, which is Bybit's liquid staking token for Solana. This collaboration allows bbSOL holders to participate actively in the Jito (Re)staking ecosystem, enhancing liquidity and efficiency.<h2 id="1465m-restaked-across-jito-vaults">$146.5M Restaked Across Jito Vaults</h2>The ecosystem is thriving with an impressive $146.5M already restaked across Jito’s vaults—like kySOL, ezSOL, bzSOL, and fragSOL. With the addition of rstSOL vault, we’re excited to contribute to this growing momentum and push the boundaries of what restaking can achieve on Solana.At P2P.org, we’re proud to play a key role in supporting Jito’s NCN ecosystem, starting with TipRouter. This is just the beginning, so stay tuned for even more exciting developments ahead!<h2 id="how-to-restake">How to restake?</h2><h3 id="step-1-if-you-don%E2%80%99t-have-bbsol"> Step 1 (if you don’t have bbSOL):</h3>Exchange your SOL to bbSOL on <a href="https://www.bybit.com/en/web3/staking/BybitSOL?ref=p2p.org">Bybit directly</a> (or you can use Jupiter or the Phantom wallet):<figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcCAKkQOy29cdY9LTO6Yd3YI5HSMH7oBq3vVQy_y7jW_6sMj8qBEIasiw7nZWEbMUIrCCQyBUZ67Y2XYhHIqZ0v_ldWOipikA4tBmEFwuy3JgroVhMFfFaMI6gPk4LHptJ3gU5gGg?key=Mau9Q9CvtUvXx_Q8EmOmCPT2" class="kg-image" alt loading="lazy" width="692" height="370"></figure><figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfv-e17AbF0ezIpmEBMVuYyqi31VPR4G5muLM6IohUuzTzdnxIInsZVMfWY5EO-ni0U3FXMvBZgWhW4qQPDbZgtffCIIqi830uiZIQx9SmeYQeRDlIEWuvyF5tJqj-66TUrWSnx?key=Mau9Q9CvtUvXx_Q8EmOmCPT2" class="kg-image" alt loading="lazy" width="692" height="560"></figure><h3 id="step-2">Step 2:</h3>Go to<a href="https://www.jito.network/restaking/start/?ref=p2p.org"> https://www.jito.network/restaking/start/</a> and select the rstSOL vault:<figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeFIJjM2QvtaHrACGACHc4auK3dC-kNg3VJPdIcOAfg75VPGx2aZMyHOKjLf9L8WzA7NMEiXzWPEMLDe7IWBpRWhseZ-4s47LaB6xUBDpfD8t4NWedN_qXIK6FeZp7SYxGhr1z5vQ?key=Mau9Q9CvtUvXx_Q8EmOmCPT2" class="kg-image" alt loading="lazy" width="1248" height="1038"></figure>The picture will be updated once live<h3 id="step-3">Step 3:</h3>Select bbSOL in the token list:<figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeSlXCAhkpP_W7cyI1_EXzUyQK6il0sB7Ka9MGFLQq91FFPRoLeY-Leeqg2hv0TfyNzgqG-941fzGSzSvnF0ekaVIHfu1C8FeC5mTM4tvSYhDvczwvry0l7RZIOclcLRp6VW9UVrQ?key=Mau9Q9CvtUvXx_Q8EmOmCPT2" class="kg-image" alt loading="lazy" width="1290" height="912"></figure>The picture will be updated once live<h3 id="step-4">Step 4:</h3>Enter the amount of bbSOL you want to restake.The widget will show you how much rstSOL you will get for the bbSOL that you provide.<figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXetyWTQTUANsO5v2aqotpIrhhqnjJdUOo5fvnuz2NKkFhDY1OWhJigrW8Vvbk3tbJi_3nc_3I63bN9GTXANXh658iAOzXllZuZIvFnRIrbXFaooKVauioieeVEWt5tKP_OdyhHjOg?key=Mau9Q9CvtUvXx_Q8EmOmCPT2" class="kg-image" alt loading="lazy" width="1290" height="882"></figure>The picture will be updated once live<h3 id="step-5">Step 5:</h3>Confirm the amount.<figure class="kg-card kg-image-card"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe-UU0oncism9_f3uHLCA9TR8HHH63EtekUrqp03fkNJuN0Ws3HmLPVJPl-QIUAcenwgI3Qt_QQaV7Dx4rfcD23hUoV76-pu3AASyMQqTkITClhcm8qc4WfQ7f3futh6h8fFXkzLw?key=Mau9Q9CvtUvXx_Q8EmOmCPT2" class="kg-image" alt loading="lazy" width="1284" height="840"></figure>The picture will be updated once live<h2 id="done">Done!</h2>Congratulations!  You’ve successfully restaked your bbSOL into the rstSOL vault. By doing so, you’re maximizing your staking rewards and contributing to the security and decentralization of the Solana ecosystem through the Jito restaking protocol.Monitor your rewards and track your rstSOL through the Jito dashboard. Remember, you can always add more bbSOL to the vault or withdraw it as needed.If you have any questions or encounter issues, feel free to contact the P2P.org or Jito community for support.<h3 id="jito-restaking-has-been-audited-by-offside-labs-and-ottersec">Jito Restaking has been audited by Offside Labs, and Ottersec</h3><a href="https://www.jito.network/restaking/jito_restaking_audit_final.pdf?ref=p2p.org">https://www.jito.network/restaking/jito_restaking_audit_final.pdf</a><a href="https://www.jito.network/restaking/Jito-RestakingVault-Nov-2024-OffsideLabs.pdf?ref=p2p.org"> https://www.jito.network/restaking/Jito-RestakingVault-Nov-2024-OffsideLabs.pdf</a> <h2 id="about-us">About Us:</h2><a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> has been a reliable validator in the Solana ecosystem since day one. We maximize staking rewards through High Node Performance and Jito MEV support. Also, backing innovative projects like <a href="https://wormhole.com/?ref=p2p.org" rel="noreferrer">Wormhole</a>, <a href="https://www.pyth.network/?ref=p2p.org" rel="noreferrer">Pyth</a>, and <a href="https://neonevm.org/?ref=p2p.org" rel="noreferrer">Neon</a>, <a href="http://p2p.org/?ref=p2p.org" rel="noopener noreferrer">P2P.org</a> strengthens the network’s infrastructure while delivering additional opportunities for stakers. You can learn more about our involvement on our <a href="https://www.jito.network/restaking/node-operators/P2P/?ref=p2p.org" rel="noopener noreferrer">dedicated page</a>.<hr>Contact UsWe are always open to communication. Do not hesitate to ask questions in our Telegram chat. For any questions or support, please contact our team at <a rel="noopener">[email protected]</a>.We encourage you to check our website and start our staking journey together!<ul><li>Web: <a href="https://p2p.org/?ref=p2p.org" rel="noopener">https://p2p.org</a></li><li>Blog: <a href="https://p2p.org/economy?ref=p2p.org" rel="noopener">https://p2p.org/economy</a></li><li>Twitter: <a href="https://twitter.com/p2pvalidator?ref=p2p.org" rel="noopener">@p2pvalidator</a></li><li>Telegram: <a href="https://t.me/P2Pstaking?ref=p2p.org" rel="noopener">https://t.me/P2Pstaking</a></li></ul>

Kamil Jakub Natil

from p2p validator

Tezos Tezos Staking: 3x Rewards After the Quebec Upgrade

<h3 id="introduction">Introduction:</h3>Tezos is leveling up its ecosystem with the highly anticipated Quebec protocol upgrade, set to go live on January 22, 2025. This update marks a significant milestone, introducing a shift from delegation to direct staking—unlocking the potential opportunity for 3x staking rewards from the network.The shift from delegation to staking isn't just a technicality, this move directly benefits bakers and delegators. With this upgrade, Tezos users will have more control while being eligible for greater rewards.Do you want to know how you can reap these rewards? Keep reading—we've broken it all down for you. Plus, if you're ready to dive in now, we've got everything you need to know to use the institutional-grade P2P.org infrastructure.<h3 id="the-new-staking-model-what%E2%80%99s-changed">The New Staking Model: What’s Changed?</h3>With the Quebec protocol upgrade, Tezos has introduced a significant change for stakers. Instead of delegating your XTZ to a baker, you can now stake directly with the protocol (for the first time ever, you can use P2P.org infrastructure directly to secure the Tezos network!), adding another layer of security.The Quebec protocol upgrade builds on the significant changes introduced in the previous <a href="https://research-development.nomadic-labs.com/paris-is-live.html?ref=p2p.org">Paris upgrade</a>, most notably a new staking mechanism that makes it possible for individuals to stake for the first time. Now, instead of just delegating your XTZ to a baker (like our P2P.org infrastructure), you can choose to stake with us as well and help us secure the Tezos network. While staking rewards were set to 2x delegation rewards from the network with Paris, Quebec has now elevated staking rewards to 3x delegation rewards, making it more beneficial to stake.<h3 id="tezos-staking-101">Tezos Staking 101</h3><ol><li>Delegation vs. Staking: Before, you could delegate your XTZ to a baker, and in return, you would receive rewards from your baker based on how much you delegated while keeping your tez liquid. With staking now possible as a second way to earn, you can lock your XTZ with a baker and enjoy rewards that are accrued directly on a protocol level. </li><li>Higher Risk, Higher Reward: Staking does expose you to slashing risks, which makes it extremely important for you to choose a reputable baker like P2P.org to reduce this risk. While slashing has happened only a few times in Tezos’ history, it is one of the features that differ from delegation. </li><li>3x Rewards:  If you’re currently delegating with a baker, you will have the opportunity to triple your rewards by choosing to stake with them. By staking your XTZ in addition to delegation, XTZ can enhance your network rewards significantly, which start accruing immediately. </li></ol><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://lh7-qw.googleusercontent.com/docsz/AD_4nXcyB9_SzgYnxmr0J6vv3YrCH7iSVz8Kg77UbTN7fuJf2ghtA0f4eb7danABdYJZW7WPn5vxF3Z7Br0gsDIsE3RNr3JmP7ILCzU_We9xW6j47h7mJHcNKTTAw1tWGvtLzYMErKLuOg?key=IfGfKxwjwFIQrh7Yz6mzlTvu" class="kg-image" alt loading="lazy" width="1600" height="900"><figcaption> Tezos Staking vs. Delegation</figcaption></figure> Tezos Staking vs. Delegation:<ul><li>Staking: You have the opportunity to earn 3x the rewards from the network, directly added to your balance, automatically compounded.</li><li>Delegation: The rewards from the network go to the baker for redistribution.</li></ul><h2 id="simple-and-efficient-staking">Simple and Efficient Staking</h2>For users (like you!), staking XTZ means increased rewards compared to delegation. These rewards are directly added to the staked balance, automatically compounded and locked. Unlike delegation, where rewards are given to the baker for redistribution, staking ensures you directly benefit from the protocol’s rewards. <div class="kg-card kg-button-card kg-align-center"><a href="https://stake.tezos.com/?ref=p2p.org" class="kg-btn kg-btn-accent">Get started with Tezos staking using our dApp to stake your XTZ</a></div><h3 id="why-choose-p2porg-institutional-grade-staking-infrastructure"> Why choose P2P.org institutional-grade staking infrastructure?</h3>P2P.org now provides XTZ staking, offering you even more ways to secure the Tezos Network. With P2P.org’s top-tier infrastructure and deep expertise in the Tezos network, we ensure that Tezos holders enjoy a smooth, secure, and efficient staking experience.<ul><li>Trusted Expertise: As an audited and trusted partner, P2P.org provides an AAA-graded, verified non-custodial staking service, giving you peace of mind.</li><li>Proven Leadership: We securely manage over $8 billion in assets for more than 10,000 delegators and nominators across 40+ high-performance networks.</li></ul>Ready to stake?Don’t miss out—take advantage of the benefits of the Quebec upgrade today and experience P2P.org’s institutional-grade infrastructure.Visit<a href="https://stake.tezos.com/?ref=p2p.org"> stake.tezos.com</a> to take the first step toward securing the Tezos network. Select P2P.org as your validator from the list.It’s fast, secure, and the best way to unlock the full potential of your XTZ!<h3 id="further-reading">Further Reading</h3> For those interested in a deeper dive, we've gathered helpful documents and guides that explain the Quebec upgrade in detail. You can explore the full technical breakdown and learn how these changes affect both bakers and stakers::<ul><li><a href="https://news.tezoscommons.org/quebec-is-coming-time-to-stake-dd207068a687?ref=p2p.org" rel="noreferrer">Tezos Quebec Protocol Upgrade – Full Breakdown</a></li><li><a href="https://www.youtube.com/playlist?list=PLmDOlM4rqLvI3FM7knF8PoB94tD5Rv--l&ref=p2p.org" rel="noreferrer">How to Stake TEZ: A Step-by-Step Guide</a></li><li><a href="https://news.tezoscommons.org/stake-and-l-earn-a-beginners-guide-to-the-new-tezos-staker-role-7ff1cf2fc8ce?ref=p2p.org" rel="noreferrer">What Bakers Need to Know About the Quebec Upgrade</a></li></ul>Whether you're looking to stake more XTZ or understand the impact on the ecosystem, these resources have you covered.The Quebec upgrade offers an exciting opportunity, but weighing these rewards against the potential risks is essential, too. For a more in-depth look at these dynamics, check out our additional resources:<ul><li><a href="https://tezos.gitlab.io/active/consensus.html?ref=p2p.org#economic-incentives" rel="noreferrer">Consensus and Other Protocol Rewards</a></li><li><a href="https://tezos.gitlab.io/active/adaptive_issuance.html?ref=p2p.org#new-staking-mechanism" rel="noreferrer">Adaptive Issuance and Staking</a></li></ul><hr><h2 id="about-us">About Us</h2><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Tezos activities since the beginning. (BOILERPLATE / ACHIEVEMENTS IN TEZOS ECOSYSTEM ETC.)<hr>Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a> chat or contact XYZ via EMAIL. We are always open to communication.<hr>Web: <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a>Twitter: <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a>Telegram: <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a>

Kamil Jakub Natil

from p2p validator