Gauntlet CEO Tarun:流动性再质押代币(LRT)存在五层潜在风险 | SevenX Research Day

Odaily星球日报讯 2 月 27 日,在 “SevenX Research Day: Restaked Modularity @ETHDenver” 活动第二日,Gauntlet 首席执行官兼联合创始人 Tarun Chitra 以 “Risks of LRTs” 为主题发表观点。 Tarun 在活动中表示,出于 AVS 选择较为困难、客户端运行较为复杂、用户需要将流动性投入 DeFi 等三个因素,流动性再质押代币(LRT)应运而出,然而 LRT 却也存在着五层需要关注的潜在风险。 一是流动性及杠杆相关风险,LRT 相较于直接再质押的 AVS 仓位而言具有更高的同质化属性,因此更容易被借贷,这其中可能藏着许多用户意识不到的杠杆。 二是收益相关风险,LRT 的收益模型相较于直接再质押的 AVS 仓位而言更加复杂,这其中可能存在利差问题。 三是关于持续性的风险,相较于直接再质押的 AVS 仓位,LRT 的赎回不但要受到 Layer1 本身的限制,还会受到每个相关的 AVS 以及 LRT 协议本身的限制。 四是罚没(slash)相关风险,由于 LRT 会涉及不同的 AVS,因而需要考虑不同的罚没条件,极端情况下本金可能遭受更严重的影响。 五是关于投资组合选择的风险,LRT 需要考虑不同的 AVS、不同的 AVS 节点运营商、不同的 Layer1 节点运营商、不同的抵押物等等,这带来了额外的复杂性。 “SevenX Research Day: Restaked Modularity @ETHDenver”由SevenX Ventures主办,Mirana Ventures 协办,EigenLayer提供支持,Modularity 及 Restaking 相关的头部研究员、AVS 项目以及创始人出席讨论行业前沿。
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