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Project Overview
Karak Network (now rebranded as OpenGDP) is a universal restaking protocol that launched in 2023, enabling multi-asset restaking across various networks including Ethereum and Arbitrum. The platform is the second-largest restaking protocol after EigenLayer, with over $740M in total value locked (TVL). Karak raised $48M in Series A funding in December 2023 at a valuation over $1 billion, led by Lightspeed Venture Partners with participation from Coinbase Ventures, Pantera Capital, Mubadala Capital (Abu Dhabi's second-largest fund), Framework Ventures, and Bain Capital. The protocol allows validators and liquid staking token holders to secure additional protocols without unstaking from the base layer through universal restaking. Karak has announced its native token $KAR as the primary asset within its ecosystem. The platform competed in the restaking space alongside EigenLayer (~$18B, 94% share) and Symbiotic, positioning itself as a multi-chain alternative with broader asset support. K2 Network was announced for closure by end of 2025 per Discord announcement.
What is Karak Network and why did it rebrand to OpenGDP?
Karak Network is a universal restaking protocol launched in 2023, now rebranded as OpenGDP. It's the second-largest restaking protocol after EigenLayer with $740M+ TVL. The platform enables multi-asset restaking across Ethereum, Arbitrum, and Fraxtal. You earn Karak XP through restaking for potential $KAR token airdrop.
How much funding has Karak Network raised?
Karak raised $48M in Series A funding (December 2023) at over $1B valuation, led by Lightspeed Venture Partners. Major investors include Coinbase Ventures, Pantera Capital, Mubadala Capital (Abu Dhabi's second-largest fund), Framework Ventures, and Bain Capital.
How do I earn Karak XP?
Complete Galxe tasks (150 points available), provide liquidity on Ethereum/Arbitrum/Fraxtal, restake assets on the platform, and use referral program. Multi-chain participation and longer restaking duration maximize XP accumulation for potential $KAR token allocation.
What happened to K2 Network?
Karak announced in Discord the closure of K2 Network by end of 2025. Participants could unstake and bridge coins before closure. V1 withdrawals were instant; v2 required 9-day waiting period. Ensure assets were migrated before the deadline.
How does Karak compare to EigenLayer?
EigenLayer dominates with ~$18B TVL (94% market share). Karak is second-largest with $740M+ TVL. Karak offers multi-asset, multi-chain restaking (vs EigenLayer's ETH focus), providing broader asset support and cross-chain flexibility for participants.
Guide
- Visit https://opengdp.network to access the platform
- Connect your cryptocurrency wallet (MetaMask, Ledger, etc.)
- Navigate to Galxe tasks at galxe.com/karak or galxe.com/opengdp
- Connect wallet or social accounts to Galxe platform
- Complete available tasks to earn 150 points
- Provide liquidity on supported chains (Ethereum, Arbitrum, Fraxtal) for XP
- Restake assets on Karak/OpenGDP platform to earn Karak XP
- Participate in referral program to multiply XP earnings
- Engage with Karak/OpenGDP community on X (Twitter) @OpenGDP
- Monitor progress through task tracking dashboard (4 total steps)
- Keep assets restaked to maximize XP accumulation over time
- Follow official announcements for token launch and distribution details
- Note: K2 Network closed end of 2025 - ensure assets migrated
- Track XP balance to estimate potential $KAR allocation
Maximize Potential
To maximize airdrop allocation:
- Complete all Galxe tasks immediately for 150 point boost
- Provide liquidity across all three supported chains (Ethereum, Arbitrum, Fraxtal) for multi-chain XP
- Restake maximum asset amounts early - longer participation likely weighted higher
- Use referral program actively to multiply your XP earnings
- Participate across multiple activities (restaking + liquidity + tasks) for diversification
- Engage with OpenGDP community for insider alpha on new XP opportunities
- Monitor for new Galxe campaigns and complete them as released
- Keep assets restaked continuously rather than withdrawing - commitment signals matter
- Early participants (since 2023 launch) likely have accumulation advantage
- Multi-asset support means diversify across different collateral types
- Compare your XP to others in community to gauge allocation tier
- Position for long-term - $48M raise + $1B valuation signals major token launch
- Follow Lightspeed, Coinbase Ventures, Pantera for strategic insights
- Second-largest protocol after EigenLayer = significant airdrop likely
Latest X Summary
Karak Network (now OpenGDP): Universal restaking protocol. $48M from Lightspeed, Coinbase, Pantera. $740M+ TVL. 2nd largest after EigenLayer. Multi-chain XP earning. $KAR token coming.