HTX to Boost Liquid Restaking Quota Totaling $150 Million with Upgraded Point System

Upsized Rewards Based on Quota Totaling $150M

HTX will launch a brand-new version of Liquid Restaking on May 16, 2024, at 09:00 (UTC). This upgrade includes an additional $50M quota.

According to HTX’s announcement, with the additional quota, Liquid Restaking is offering a total staking quota of $150 million. This includes 5,000 ETH, 250 BTC, 2,000B HTX, and 30,000,000 TRX. Users can register for Liquid Restaking with their spot and futures account balances snapshotted to easily earn rewards, including airdrops from popular projects such as EigenLayer and BounceBit.

Allocation of Additional $50M Quota:

● An increase of a 5,000 ETH quota allocated to EigenLayer and Puffer, effective from May 16. Accordingly, you will get airdrop rewards from EigenLayer on a total quota of 5,000 ETH and from Puffer on a total quota of 5,000 ETH daily.

● An increase of a 250 BTC quota allocated to BounceBit, effective from April 19. Accordingly, you will get airdrop rewards from BounceBit on a total quota of 500 BTC daily.

●    An increase of 2,000B $HTX and 30,000,000 TRX quotas, effective from May 16. You will get more rewards accordingly.

New Point System: Automatically Mapping LRS Points to r-Points

HTX Liquid Restaking will adopt a new point system of r-points effective from May 16, which can be redeemed for rewards provided by corresponding projects. Points earned before May 16 will be automatically updated to r-points.

After the upgrade, participants will receive r-points based on the cryptocurrency they enable for the event, which can be redeemed for airdrops from corresponding projects. For r-points distribution rules, please read HTX’s official event announcement. See r-Points explained below:

r-points give participants a clearer display of their rewards when they claim airdrops. LRS points participants earned by May 12, 2024, 16:00 (UTC) will be proportionally mapped to the corresponding project points, marked as r-points after the upgrade. For example: 10 LRS-ETH = 10 r-stETH + 5 r-EIGEN + 5 r-PUFF. For mapping details, please read: Updates on Liquid Restaking: Adding $50M Quota, New Point System, One-Click Reward Claims

As the first exchange to eliminate participation barriers for on-chain restaking, HTX is comfortably ahead in the restaking field with its innovative Liquid Restaking event. The event features no lockups, no staking, high returns, and flexibility, which is noteworthy especially for investors seeking to capitalize on the on-chain staking revolution without compromising liquidity.

The post first appeared on HTX Square.