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Here’s a simplified explanation of how restaking works today: 

Bob deposits ETH/stETH into a liquid restaking protocol like Ether.Fi, Puffer, Eigenpie or Renzo.

The liquid restaking protocol delegates Bob’s assets to an EigenLayer operator.

The EigenLayer operator uses Bob’s asset to secure one or many AVSs to return some yield to Bob.

Bob is happy because his ETH is a yield-bearing productive asset, and he enjoys a liquid ETH derivative that he can use to dabble in other degenerate DeFi activities.

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