ultraETH and ultraETHs

ultraETH represents the Liquid Restaking Token of the EigenLayer ecosystem, whereas ultraETHs is the corresponding token for the Symbiotic ecosystem. Restakers are given the flexibility to select their preferred ecosystem, whether it is EigenLayer or Symbiotic, for the purpose of restaking.

Building blocks of ultraETH

ultraETH is built on three premises-

1. Providing liquidity to the illiquid stETH on Eigenlayer (currently valued at more than $3 billion)

2. Providing instant onboarding and fastest (7-day) offboarding for the stETH

3. Validating early AVSs to assess their risks and share risk management models with the broader restaking community.

Affine Labs will act as a research hub to actively share its findings about the early AVSs with the broader Eigenlayer restaker community.

Pricing of ultraLRT

The valuation of ultraETH shares is contingent upon the cumulative stETH holdings within the vault, deployed on EigenLayer or Symbiotic, and the forthcoming rewards gauged by oracle feeds, divided by the total ultraETH supply.

ultraETH does not incorporate a rebasing mechanism. Instead, fluctuations in share price are influenced by the aggregation of validation rewards and penalties, resulting in corresponding rises and falls.

Obtaining the LRTs

Users can obtain ultraETH by depositing stETH on the dApp. Please look into the Using the Protocol page to learn how to restake with Affine and obtain ultraETH or ultraETHs.

Alternatively, UltraETH can be procured from secondary DeFi markets. Please look intoIntegrations and Ecosystem to learn about it.