Semantics of Staking 2: Re-staking — The price of agency

Many thanks to Anders Elowsson for initial discussions prompting these series of posts and for his many helpful comments on the text. Thanks also to Caspar Schwarz-Schilling, Julian Ma, Thomas Thiery, Davide Crapis, Mike Neuder, Drew Van der Werff, Kydo and many others for discussions and comments on the text. Photo by Robert Katzki on Unsplash. Following our last post on liquid staking constructions, we are now talking about re-staking. We introduce re-staking with the use case of re-staking one’s own validating position, before generalising to re-staking any asset, which we’ll use in the third post of this series. Part 1: Liquefaction Part 2: Re-staking Part 3: Advanced construction sets for ages 16+ (coming soon!) Let’s dive in! Given some asset X, we denote by [X] the re-staked asset, i.e., an asset “boxing” X such that part or all of X may be captured by some party given some arbitrary condition. The basic example introduced by EigenLayer is that of a solo staker re-staking their

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