How to Migrate primeETH to ynLSDe
The time has come to migrate primeETH to ynLSDe!
In accordance with the OGN governance proposal, PrimeStaked is merging with YieldNest’s ynLSDe. Both PrimeStaked users and OGN stakers will be eligible for YieldNest’s YND airdrop, which is explained in detail below.
YieldNest’s ynLSDe
YieldNest innovates on liquid restaking with ynLSD by providing curated exposure to actively validated services (AVSs). This design enables restakers to target certain AVS categories, optimizing restaking exposure for potential airdrops and higher yields.
ynLSD will have two tokens: ynLSDe (EigenLayer LRT) and ynLSDs (Symbiotic LRT). PrimeStaked users will be able to migrate to ynLSDe, maintaining exposure to EigenLayer’s restaking ecosystem.
YieldNest aims to be the most community-centric LRT platform, allocating at least 60% of the YND token supply to its users. Excitingly, both primeETH and xOGN holders will be eligible for a retroactive airdrop at TGE.
YND Airdrop for primeETH XP and xOGN
As part of the YieldNest and PrimeStaked merger, YieldNest has offered Origin’s community an airdrop allocation at TGE. PrimeStaked XP holders will receive a retroactive airdrop proportional to their XP balance (a snapshot of XP balances was taken when the migration portal opened). Users who migrate primeETH to YieldNest will be eligible for additional airdrop seasons and exclusive perks. PrimeStaked holders that migrate to YieldNest will earn a 5% points boost, and users that migrate 5+ primeETH are eligible to claim the Pioneer NFT for further rewards.
OGN stakers will be eligible for YND based on TVL migrated from primeETH to ynLSDe. As detailed in the governance proposal, OGN stakers will receive 0.25% of the total YND supply per 2,250 ETH of value migrated to ynLSDe. The YND airdrop allocation for OGN stakers is capped at 2.5% if 22.5K ETH is migrated to YieldNest’s LRT.
How to Migrate primeETH to ynLSDe
The PrimeStaked app will be retired soon, so withdrawals now go through the smart contracts on Etherscan. Each withdrawal can still be claimed as OETH or migrated to ynLSDe. You need the wallet that holds your primeETH and a little ETH for gas.
Step 1: Request the withdrawal
On Etherscan, call requestWithdrawal on the PrimeStaked deposit pool from the wallet that holds your primeETH. Each request is either claimed as OETH or migrated to ynLSDe, so to split your primeETH between the two, make two requests.
Step 2: Wait at least 14 days
EigenLayer holds every withdrawal for at least 100,800 blocks, about 14 days.
Step 3: Claim OETH or migrate to ynLSDe
After the wait, call claimWithdrawal to receive OETH, or claimWithdrawalYn to have it deposited into YieldNest's ynLSDe for you.
The full guide, with the contract links, the values to enter and worked examples, is in the PrimeStaked docs.
Upcoming YND Airdrop Seasons
Season 1 of YieldNest’s airdrop campaign is now active, with at least 4% of the YND token supply allocated to ynLSD holders in the first season. As YieldNest’s seasons progress, the team anticipates larger token allocations as TVL grows. In an effort to become the most community-centric liquid restaking platform, YieldNest plans to allocate over 60% of the total token supply to the community.
We’re excited to continue rewarding our community in unique ways, with the YND airdrop being among the first initiatives to bring new value to OGN stakers and the broader Origin community. With backers including the founders of Curve, Frax, Convex, Algorand, and Yearn, YieldNest is well-positioned to continue delivering innovative LRT products that maximize risk-adjusted returns.
Have further questions or want help migrating primeETH? Join the Origin Discord and become part of our growing community!
