LRT Protocol Comparison
Five protocols dominate liquid restaking. Each makes different tradeoffs around decentralization, operator selection, fee structure, and AVS support. Use the interactive charts below to compare them across key dimensions.
📊 TVL Comparison (Animated)
Total value locked across all LRT protocols. Bar heights proportional to TVL in billions.
📈 APY Comparison Chart (Animated Bar Chart)
Annual percentage yield including base staking + restaking + AVS rewards. Hover for breakdown.
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⚖️ Multi-Metric Comparison
Select a metric to compare across all protocols with animated bar chart.
🔍 Detailed Comparison Table
| Feature | EtherFi | Renzo | Puffer | Kelp | Swell |
|---|---|---|---|---|---|
| Token | eETH | ezETH | pufETH | rsETH | rswETH |
| TVL | $6.2B | $3.1B | $1.8B | $1.4B | $0.9B |
| APY | 3.8% | 4.1% | 3.5% | 3.9% | 4.3% |
| Fee (of rewards) | 10% | 10% | 5% | 7.5% | 10% |
| AVSs Supported | 12 | 9 | 7 | 8 | 6 |
| Value Model | Rebasing | Value-accruing | Value-accruing | Value-accruing | Value-accruing |
| Node Operators | 29 | 22 | Permissionless | 18 | 15 |
| Withdrawal Time | 7 days | 7-10 days | 7 days | 7-14 days | 7 days |
| Slashing Protection | Guardian Network | EL Native | Permissionless | Risk Reserve | Limited |
| Audit | Spearbit + ChainSecurity | Trail of Bits | OpenZeppelin | Sigma Prime | Trail of Bits |
⚠️ Risk Matrix
Risk assessment across smart contract security, slashing exposure, depeg risk, and liquidity. Lower is better.
| Protocol | Smart Contract | Slashing Risk | Depeg Risk | Liquidity | Overall |
|---|---|---|---|---|---|
| EtherFi | Low | Low | Low | Low | ★★★ |
| Renzo | Medium | Medium | Low | Low | ★★★ |
| Puffer | Low | Medium | Low | Medium | ★★★ |
| Kelp | Low | Medium | Low | Medium | ★★ |
| Swell | Medium | High | Low | High | ★★ |
🏆 Which LRT Is Best for Whom
🏛️
EtherFi
Institutions & Large Depositors
- Highest TVL — most battle-tested
- Guardian network slashing protection
- 12 AVS integrations — maximum diversification
- Dual-token (eETH/weETH) for risk flexibility
🎁
Renzo
Point Chasers & APY Hunters
- Highest APY at 4.1%
- EigenLayer points accumulate on ezETH
- Expected REZ token airdrop potential
- 9 AVSs — good diversification
🔓
Puffer
Decentralization Purists
- Permissionless validator network
- Lowest fees at 5%
- OpenZeppelin audited
- No token holder governance overhead
🔄
Kelp
LST Holders & Fee Sensitive
- Accepts stETH, rETH, wbETH as collateral
- 7.5% fee — second lowest
- Socialized risk reserve protection
- Geographic operator diversity
🚀
Swell
High Risk/Reward Seekers
- Highest APY at 4.3%
- Newest protocol — growth potential
- Fresh tokenomics to explore
- Lower TVL = more upside
🏦 Protocol Yield Simulator
Adjust your deposit to see projected annual returns across all protocols.
Best APY
Swell 4.3%
Most TVL
EtherFi $6.2B
Lowest Fee
Puffer 5%
Most AVSs
EtherFi 12