Karak Network
Karak network is the second-largest restaking protocol after EigenLayer, with over $740M in TVL. It enables multi-asset restaking with staked ETH, WBTC, stablecoins, and more across Ethereum, Arbitrum, and Karak L2 chain networks. Karak L2 is the native network of the restaking protocol, powered by Karak’s Distributed Security Services (DSS).
The platform’s unique approach of multi-asset restaking attracted significant attention from leading crypto funds. Since its launch in 2023, Karak network has managed to raise over $48M from Coinbase Ventures, Pantera Capital, Lightspeed Ventures and more. link
Karak Network - WAITLIST Overview
Karak Network - Review
Karak network is an Ethereum restaking protocol that serves as a marketplace for developers to enhance the security of applications and other networks.
Similarly to the EigienLayer, it enables users to provide increased security to these dApps and networks with their ETH liquid staking points and earn additional APR. However, the Karak crypto protocol has gone even further by establishing support of not only staked ETH, but also stablecoins and even Bitcoin restaking across different chain networks, such as Ethereum, Arbitrum, and K2 L2.
On February 27th, 2024, Karak announced the launch of its native risk management L2 network that leverages Karak’s Distributed Service Security (DSS). The network is designed to help developers build, test, and launch critical upgrades for their dApps and blockchain networks.
🪙 Karak token: According to the platform’s docs, its governance layer is still under construction. However, the CoinLaunch team is certain that the governance and decentralization of the platform and the Karak L2 will be achieved through the release and airdrop of its native token. Similar to other protocols such as EigenLayer, Renzo, and Swell Network, this token will most likely be the main criterion for participating in DAO voting on the Karak network.
Moreover, it is quite possible that release of Karak token and its airdrop might occur in the near future, as the trend of airdrops from restaking and staking protocols emerges. Hence, our team decided to conduct a comprehensive research of the Karak restaking protocol and prepared for you some major pros and cons of the project:
✅ Karak’s pros:
- Over $740K worth in TVL achieved since the launch in 2023;
- Great concept, design and utility of the product;
- Good PR, SMM, Influencer and Growth marketing performance;
- Project hosted several security audits from tier 3 companies;
- Has an open bug bounty program (self-hosted);
- The top tier funds invested into the project;
- Highly experienced founders team;
- The project boasts a diverse network of top tier partners.
📛 Karak’s cons:
- No tokenomics and roadmap presented by the team yet;
- Lack of security assessments from the top tier auditors;
- Weak marketing infrastructure;
- Poor SEO performance.
Karak Network - Team
