Liquid Staking and Restaking in 2026: Yields, Risks and Tokens
Restaking and liquid staking in 2026 explained: where the yield comes from, the layered risks of LSTs and LRTs, the tokens involved and how to stay safe.
Liquid staking and restaking in 2026 offer extra yield on staked assets such as ETH, but every layer that adds yield also adds a risk: smart-contract bugs, slashing, depegs and dependence on incentive programs. Whether these sectors grow in 2026 and 2027 depends on whether restaked security finds paying customers, not just on points and airdrops.
This guide explains how liquid staking tokens (LSTs) and liquid restaking tokens (LRTs) work, where the yield actually comes from, which governance tokens are involved and how to manage the risks. It makes no price or yield predictions.
How Liquid Staking Works
On proof-of-stake networks, staking secures the chain and earns rewards, but staked coins are usually locked or subject to delays. Liquid staking protocols stake on your behalf and give you a token that represents your position. Our Ankr explainer covers the project's basics, use cases and risks.
Examples on Ethereum include Lido's stETH, Rocket Pool's rETH and Coinbase's cbETH. On Solana, Jito's JitoSOL is a widely used liquid staking token. Since Ethereum's Shanghai/Capella upgrade in April 2023, staked ETH can be withdrawn, which made liquid staking tokens easier to redeem. For a related token's outlook, see our Lido DAO price prediction for 2026–2027.
The benefits are flexibility and composability: you can use an LST as collateral in DeFi while still earning staking rewards. Our guides to what staking is and liquid staking cover the fundamentals.
How Restaking Works
Restaking, popularized on Ethereum by EigenLayer, lets staked ETH or LSTs be committed to secure other services such as data availability layers, oracles or bridges. These services are often called actively validated services (AVSs). In return, restakers may earn additional rewards but accept that their stake can be slashed if operators misbehave. Our EigenLayer (EIGEN) price scenarios for 2026–2027 apply the same catalyst-and-risk approach to a related project. For background on the project itself, see EigenLayer (EIGEN) explained.
Liquid restaking protocols such as ether.fi then issue liquid restaking tokens, adding yet another layer. Read restaking explained for more detail.
Where the Yield Comes From
| Layer | Source of yield | Main risk |
|---|---|---|
| Native staking | Protocol rewards and transaction fees | Validator slashing, lock-up |
| Liquid staking token | Same as native, minus a protocol fee | Smart contracts, depeg, governance |
| Restaking | Payments from services secured, incentives | Additional slashing, untested services |
| Liquid restaking token | All of the above, minus fees, plus points | Stacked smart-contract and liquidity risk |
| DeFi on top (loops, lending) | Leverage on the above | Liquidation if the token depegs |
The key question for 2026 and 2027: do the services secured by restaking generate real fees, or is most of the yield coming from token incentives and airdrop expectations? Incentive yields can disappear quickly once programs end.
Tokens in the Sector
Investors often confuse staked assets with governance tokens:
- Staked assets (stETH, rETH, eETH, JitoSOL) track the underlying coin plus rewards.
- Governance tokens such as Lido DAO (LDO), ether.fi (ETHFI) and Jito (JTO) represent voting rights and sometimes economic rights over the protocol.
Governance tokens can fall even when the protocol grows, especially if supply is still unlocking or fees do not reach token holders. Check each token's documentation and unlock schedule.
Scenarios for Liquid Staking and Restaking in 2026–2027
Bull scenario
Staking participation rises, restaked services attract paying customers, and protocols share fees with token holders. Liquid staking tokens become even more widely used as DeFi collateral.
Base scenario
Liquid staking keeps growing steadily, but restaking yields settle at modest levels once incentive programs end. Governance tokens move with the broader market and their unlocks. For a related outlook, read ether.fi price prediction 2026–2027. We cover this in more detail in Lido vs ether.fi.
Bear scenario
A slashing event, smart-contract exploit or severe depeg triggers a rush to exit, liquidations in leveraged loops and a loss of trust. Regulators could also scrutinize staking products in some jurisdictions.
Risks Specific to Staking Tokens
- Depegs. In June 2022, stETH traded at a discount to ETH during market stress, before withdrawals were enabled. Liquidity can dry up when everyone wants out at once.
- Leverage loops. Borrowing against LSTs to buy more amplifies yield and losses. Read liquidations in DeFi.
- Concentration. Critics have long argued that a single liquid staking provider controlling a large share of staked ETH could be a risk to Ethereum's decentralization.
- Smart contracts and upgrades. Check audits, bug bounties and who controls admin keys. Our DeFi due diligence checklist helps.
Signals Worth Watching Through 2026 and 2027
Rather than chasing the highest advertised yield, track indicators that show whether the sector is healthy:
- Staking participation on each network, which shows how much of the supply is staked.
- LST and LRT discounts in DEX pools; a persistent discount to the underlying coin is an early warning sign.
- Redemption queues on Ethereum, which lengthen when many validators want to exit.
- Real fees paid by restaked services compared with incentives; if almost all yield comes from points, it is unlikely to last.
- Share of stake per provider, to judge concentration risk.
- Governance proposals that change fees, reward splits or admin powers.
Practical Risk Management
- 1Start with the simplest layer that meets your goal. Every extra layer adds risk.
- 2Know your exit. Check redemption times and pool liquidity before depositing.
- 3Avoid leverage loops unless you fully understand liquidation thresholds.
- 4Size positions conservatively and diversify across providers if you stake larger amounts.
- 5Watch for fake staking sites. Scammers clone staking dashboards and promise impossible yields. See fake staking platforms and lock-up scams.
Bottom line
Liquid staking is now a core part of proof-of-stake ecosystems, and restaking is an experiment in reusing that security. Both can earn more than holding alone, but the extra yield always comes with extra risk. Understand where each layer's yield comes from, keep positions sized for the worst case and follow the live Ethereum price page for market context.
常见问题
What is the difference between liquid staking and restaking?
Liquid staking lets you stake a coin such as ETH and receive a token, like stETH, that represents your staked position and can be used elsewhere. Restaking takes staked ETH or a liquid staking token and commits it to secure additional services, in exchange for extra rewards and extra slashing risk.
Where does restaking yield come from?
Restaking rewards come from the services secured by restaked assets, which may pay in their own tokens or fees, and often from points or incentive programs. Unlike base staking rewards, which come from the blockchain protocol, restaking yields depend on whether those services generate real demand. Incentive-driven yields can shrink quickly.
Can a liquid staking token lose its peg?
Yes. A liquid staking token can trade below the value of the underlying coin when many holders want to exit at once or when confidence drops. In June 2022, stETH traded at a discount to ETH during a period of market stress. Redemption delays and liquidity in trading pools determine how large a discount can become.
Is restaking safe for beginners?
Restaking stacks several risks: the base chain's slashing, the liquid staking protocol's smart contracts, the restaking protocol, the services it secures and any DeFi apps you use on top. Beginners who want staking exposure often start with simpler options and keep any restaking position small.