The Future of Liquid-Staking Tokens

There's no principal agent problem. As soon as you get liquid-staking, then you're actually underwriting another node operator and LIDO. So there are two sets of security dependencies that you don't fully understand. Then with restaking, suddenly, those node operators can be running all sorts of different hardware. They're frankly, you just can't possibly have information too. And on top of that, one of the things that we're going to see for liquid-staking tokens is actually this race and pressure for yield.

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