全方位对比各LRT：项目特色及七大策略

Odaily星球日报Pubblicato 2024-02-04Pubblicato ultima volta 2024-02-04

Introduzione

利用手中有限的ETH创造出无限可能性。

原文作者：CapitalismLab

Eigenlayer LRT 层出不穷，究竟该选择哪一个才能有最大收益？使用什么策略才最适合我的需求？ 2 月 5 日 Eigenlayer 即将短暂开放 LST 存入，是时候做决定了！

本文将全方位对比各 LRT，分析各大项目特色以及提供七大特色策略，帮你利用手中有限的 ETH 创造出无限的可能性。

1. 一鱼三吃：swETH+ Eigenpie

存入 swETH 到  Eigenpie ：

  • Eigenpie points 对应总量 10% 空投 + 24% IDO 300 万美元 FDV - Swell pearls 对应总量 7% 空投 ；

  • Eigenlayer points 的空投；

一次性撸了六巨头中间两个，并且两边都可以吃到全额收益。以后 mswETH 上 Pendle 或者其他平台还可以继续博取更多收益，这个策略的特色就是极致的积分一鱼多吃

需要注意 Eigenpie 为车队模式，车队越大增幅越高。

全方位对比各LRT：项目特色及七大策略

2. 跟着币安：Puffer+stETH

Puffer Finance 受到了 Binance Labs 以及 Eigenlayer 的双重投资，社区普遍认为上币安预期较高，TVL 目前增长也迅速.

Puffer 主打 Anti-Slash LRT，也有一点技术特色需要特别注意的是由于 Puffer Mainnet 尚未上线，目前进行的是 pre-mainnet 活动仅支持 stETH，然而 stETH 大概率触及 Eigenlayer 设置的单个 LST 33% 上限，意味着单位 ETH 只能获取更少 Eigenlayer points。

所以这个策略的重点在于博弈 Puffer 上币安，而在 Eigenlayer points 获取方面则可能有一定劣势。

3. 守正出奇：mETH+Eigenpie

受到 Mantle 财库补贴，mETH 7.2% APR 是其他 LST 两倍多，并将持续到 4 月 1 日，基础收益高，加上

Eigenpie 福利多，天花板也高。

所以这个策略特色在于守正出奇，既能拿到确定性的高收益，也能博 LRT 的惊喜。

mETH 可以前往 Mantle 官网 Mint，如果到达上限后也可以尝试在 NativeX 使用 stETH 无滑点兑换。需要注意 Eigenpie 为车队模式，车队越大增幅越高。

全方位对比各LRT：项目特色及七大策略

4. 留条退路：EtherFi

相比于其他项目一般只支持 DEX Swap 回 ETH，EtherFi 是目前唯一支持 unstake，用户不但可以通过 DEX Swap 回 ETH，还可以 Unstake 1: 1 赎回 ETH，等待时间可能为 7+ 天到 14+ 天。

全方位对比各LRT：项目特色及七大策略

此外 EtherFi 目前在 Pendle 等 DeFi 上组合还可以获取双倍积分，以及这些 DeFi 自身的激励。

全方位对比各LRT：项目特色及七大策略

EtherFi 此前对于空投较为暧昧，该项目自很的空投收益具有较大不确定性，所以本策略特色为时候有较高流动性需求以及较低 depeg 折损容忍度的用户，以及相比 LRT 空投更在意 Eigenlayer 空投的用户，便于有流动性需求的时候可以低折损地退出

EtherFi 本周还在举行 MegaWeek 活动，使用邀请链接存入可以获取 5 倍 EtherFi 一次性存入积分，还可以参与瓜分 1 M Eigenlayer points 的额外奖励。

5. 锁定收益（Pendle 买入 PT）或 6. 小额博弈（Pendle 买入 YT）

Pendle 推出了 LRT 专属页面。可以看出每 1 YT eETH 代表可以获取 17 eETH 的 EtherFi 积分以及 9 eETH 的 Eigenlayer 积分，PT 固定利率为 36% 。

就是说如果你买入 PT，就意味着放弃了所有积分收益，Staking 收益，直至到期日 6 月 27 日之前可以在 eETH 本位上获取 36% 的 APY

如果你买入 YT，那么就相当于开了 1 0x 的杠杆在挖积分，如果最后这些积分带来的收益<36% APY，那么你就要归本，大于则会赚钱，具体计算公式参见此处。

目前 EtherFi/KelpDAO/Renzo 均在 Pendle 上 lisitng，但是规则各不相同，建议充分了解后再操作。

全方位对比各LRT：项目特色及七大策略

7. 大胆操作:买入并锁定 vlPNP/vlEQB 投票赚取点数贿赂

目前由于纷纷 Listing 到 Pendle，所以各家也纷纷给了 Penpie、Equilibria 点数贿赂收益。

怎么判断是否值得？投票为一周一次，因此你可以算出 1 PNP/EQB 分别每天能够获取多少点数，再看看 1 ETH 每天能够获取多少点数，心里就有个数了。此前根据各路大神的计算，普遍有个十几倍到几十倍的效率。

但是注意该投票仅可获取 LRT 积分，不可获取 Eigenlayer 积分。机制复杂且有较大亏损和流动性风险，不建议不熟悉 Pendle 以及 Convex 飞轮玩法的人进行操作。

总结

大盘局势：

  • EtherFi  / KelpDAO / Puffer/ Renzo / Eigenpie / Swell 六巨头格局；

  • stETH 大概率触及 Eigenlayer 设置的单个 33% 上限，获取更少 points；

各项目特色：

  • Eigenpie：福利最好，收益确定性和天花板最高；

  • Puffer：背景最好，上币安预期最高；

  • EtherFi：规模最大，流动性最好，已支持 unstake ；

  • KelpDAO：规模第二，LST 团队 Stader 推出；

  • Renzo：OKX/SevenX 等华人资本支持，Native & LST；

  • Swell：LST+LRT，可与 Eigenpie 组成三重积分挖矿；

目前六家要么有知名投资者，要么本来就是久经考验的知名团队发起，所以有兴趣均可试水，但是依然可能有雷。

七大特色策略：

  • 1. 一鱼三吃：swETH+ Eigenpie，swell+Eigenpie+Eigenlayer 三重积分；

  • 2. 跟着币安：Puffer 受到了 Binance Labs 以及 Eigenlayer 的双重投资，社区普遍认为上币安预期较高；

  • 3.守正出奇：mETH+Eigenpie，mETH 7.2% APR 是其他 LST 两倍多，基础收益高，Eigenpie 福利多，天花板也高；

  • 4.留条退路：EtherFi，支持 unstake，大额资金可顺利低折损退出；

  • 5.锁定收益：Pendle 买入 PT，放弃积分享受固定高收益；

  • 6.小额博弈：pendle 买入 YT，相当于上了十几倍杠杆博弈积分；

  • 7.大胆操作：买入并锁定 vlPNP/vlEQB 投票赚取点数贿赂；

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