masterprotocol

Overview: Bitcoin Ecosystem's [Eigenlayer + Pendle] Native Restaking Protocol Master Protocol
Since Ethereum launched staking ETH withdrawals in April 2023, many innovative protocols have emerged to explore multiple integrations of LST tokens in DeFi, providing users with additional income strategies in addition to staking income. The re-staking track has risen rapidly, attracting the attention of institutions, large investors and retail investors. Since Ethereum switched to the PoS mechanism, more than 32.5 million ETH have been staked, accounting for more than 26% of the ETH supply, with a total value of more than US$100 billion.
Entering 2024, the re-staking track continues to be favored by capital, and many projects have received tens of millions of dollars in investment. Binance launched the re-staking projects EtherFi and Renzo in March and April respectively. The frequent investment of institutions and the successive launch of projects have made the re-staking track a new gold mine for Web3.

Master Protocol is an emerging interest rate swap market and points farm accelerator in the Bitcoin ecosystem. To some extent, we can regard it as the Pendle of the Bitcoin ecosystem, but we cannot regard it as a simple fork version of Pendle. To truly understand the value of Master Protocol, we need to observe it from the perspective of the BTC-FI value chain.
The Bitcoin programmability narrative is spreading from the East to the West. With Bitcoin Magazine and the top crypto venture capital Polychain debating and setting standards for Bitcoin L2, Bitcoin programmability has finally become a serious new crypto investment track in the West. Pentera, Coinbase Ventures, Polychain, Bankless and other top VC/investment DAOs have invested in and incubated projects in this track. Babylon, Botanix, BOB, Mezo and other so-called Western blue-blooded Bitcoin ecological projects have successively announced that they have received high amounts of financing.