Digital asset firm OKX‘s investment arm OKX Ventures has announced a strategic investment in four consumer-oriented products from Web3 venture studio EVG.
According to a blog post by OKX, these reportedly “include multi-chain SocialFi infrastructure Open Social Protocol, decentralized collaboration network Zeek, strategy card game Legend of Arcadia and real-time strategy game Last Odyssey.”
OKX notes in its update that they see potential in these consumer-oriented initiatives, particularly in their ability “to integrate real use cases and gamified mechanisms into social and gaming experiences.”
This investment will help accelerate “the adoption of these disruptive technologies among mainstream audiences in a fun and engaging way.”
By investing in EVG’s projects, they aim to “tap into the innovative power of EVG and leverage its expertise in Asia to drive product-market fit in the social and gaming sectors.”
OKX are pleased to announce that they have also “invested in Bedrock, a multi-asset liquid restaking protocol.”
This strategic move brings institutional-grade infrastructure “to an expansive audience, ensuring both security and transparency to cater to the requirements of larger clients and institutions.”
As a restaking protocol, Bedrock is said to be “engineered to restake natively and unlock additional rewards from EigenLayer.”
As of this month, around 41,344 ETH have “been staked by 1,292 validators on RockX, the node operator and early contributor to BedRock.”
The popularity of restaking saw “a significant surge following the Q4 2022 merge of Ethereum’s Beacon chain.”
Validators stake to store data, “process transactions and add new blocks to the Ethereum network, and the total stETH/ETH supply now stands at 26.72%.”
Introduced by EigenLayer, restaking allows staked ETH to “serve as security for protocols outside of Ethereum, in return for fees and rewards.”
With over 15 outstanding restaking protocols today, the total staked ETH (Staking & Restaking) “stands at 32 million ETH,” according to Dune’s dashboard.
Restaking not only enhances capital efficiency but also “fosters ecosystem development.”
uniBTC, a universal bitcoin token by BedRock in partnership “with Babylon, is at the forefront of staking innovation. It allows BTC holders to earn staking yield while maintaining their BTC liquidity and participating in other DeFi activities.”
With Proof-of-Stake (PoS) chains, “a larger pool of staking capital increases user security and efficiency.”