Cega, Pendle, and Ether.fi Build Restaking Product using Yield Token for Over 107x Points Exposure

CegaPendle, and Ether.fi are thrilled to announce the launch of “Pendle Ether.fi YT Tiger” today. This marks a significant step forward in DeFi innovation. By utilizing Pendle’s Yield Tokens (YT), Cega created the first ever utility for YT beyond traditional point holding.

DeFi users who engage in liquid restaking on Ether.fi and points farming with Pendle YT-eETH can now restake their YT-eETH in Cega to make competitive APY, paid in YT-eETH. Users also get over 107x points exposure to EtherFi points via a special Cega 3x multiplier.

Cega’s product was developed for users who hold YT or who engage in points farming who want the opportunity to gain points exposure from restaking YT-eETH into Cega. “This strategy is creating a novel yield opportunity for the billion dollar restaking ecosystem and fast-growing YT marketplace”, commented Mike Silagadze, co-founder of Ether.fi.

DeFi Building Blocks

EigenLayer introduced restaking by allowing users to stake ETH or LSTs for yield on top of existing yield. Ether.fi built on top of this base model and delivered a product with three potential income streams – staking, restaking, and yield farming – called eETH.

Pendle took this development further, creating Principal Tokens (PT) and Yield Tokens (YT) that split the yield from the underlying principal. YTs represent a claim to potentially probable future yield. Combined with points programs launched by top protocols, “YT allows users to gain significant exposure to points through leverage, and the Cega product creates a strong opportunity on top of this” explained TN, co-founder of Pendle.

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