Liquid restaking tokens let you stack staking yield with restaking rewards while staying liquid. We compare the top 5 LRT platforms — EtherFi, EigenLayer, Renzo, Puffer, and Kelp DAO — by TVL, yield, security, and ease of use.
Liquid restaking tokens (LRTs) let ETH stakers stack base staking yield with additional restaking rewards from securing Actively Validated Services (AVS) — all while keeping assets liquid and DeFi-usable. Since EigenLayer pioneered restaking1, a wave of LRT protocols has emerged, each issuing tradeable tokens (eETH, ezETH, pufETH, rsETH, rswETH) that auto-compound yield.
The core idea: you deposit ETH (or an LST like stETH), receive a liquid token representing your restaked position, and that token can be used across DeFi while earning both staking yield and restaking rewards. The trade-off is added slashing risk from AVS participation1.
We looked at four factors:
EtherFi is the largest liquid restaking protocol on Ethereum2. It integrates directly with EigenLayer to boost yields via its eETH token, offering up to 20% APY when restaking rewards are included2. It's non-custodial, meaning you retain control of your keys.
What sets EtherFi apart beyond raw yield is its ecosystem play: a crypto credit card that lets you spend against your staked position2. If you want one LRT that does the most with your ETH — yield, liquidity, and real-world spending — eETH is the pick.
Verdict: Largest LRT by TVL with the highest boosted yield and a unique crypto credit card. The best all-rounder.
EigenLayer is the foundational protocol that made restaking possible1. It holds $15.3B in TVL with a 94% restaking market share1, making it the dominant infrastructure layer. Net APY sits in the 3.8–6% range1.
If you want to restake directly without an LRT wrapper — managing your own operator selection and AVS delegation — EigenLayer is the source. Its EigenCompute Mainnet Alpha launched in January 20261, expanding the range of services restaked ETH can secure.
Verdict: The foundational protocol with dominant market share. Best if you want direct control over restaking without an intermediary token.
Renzo issues ezETH and auto-rebalances restaked ETH across EigenLayer and Symbiotic3. Its Strategy Manager auto-selects operators and AVSs, removing the manual work from restaking3.
Renzo's standout feature is reach: 15-chain support including Solana via Jito3. If you operate across multiple chains or want restaking exposure beyond Ethereum L1, Renzo is the most connected option.
Verdict: Auto-rebalancing across EigenLayer + Symbiotic with 15-chain support including Solana. Best for cross-chain restaking.
Puffer Finance issues pufETH with a focus on slashing protection4. Its Secure-Signer anti-slashing technology is designed to prevent the double-signing faults that can slash validator stakes4.
Puffer also brings institutional-grade custody via Anchorage Digital and has been audited by Sigma Prime and Certora4. If minimizing slashing risk is your top priority — and for many stakers it should be — Puffer's security-first approach stands out.
Verdict: Anti-slashing tech, Anchorage custody, and dual audits. Best for security-conscious stakers.
Kelp DAO issues rsETH, a multichain liquid restaking token that accepts various Ethereum LSTs as input5. If you already hold LSTs like stETH, rETH, or cbETH and want to restake them without converting to ETH first, Kelp DAO gives you that flexibility5.
Verdict: Multichain LRT supporting various Ethereum LSTs. Best if you want to restake existing LST positions across chains.
Every LRT adds a layer of smart contract risk on top of base staking. The added yield comes from securing AVSs, which introduces slashing risk if those services or operators behave incorrectly1. More yield generally means more risk — EtherFi's 20% ceiling2 reflects aggressive AVS allocation, while Puffer's anti-slashing focus4 trades some upside for protection.
Pick the platform that matches your risk tolerance: maximum yield (EtherFi), direct control (EigenLayer), cross-chain reach (Renzo), security-first (Puffer), or LST flexibility (Kelp DAO).
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