StakeHound unleashes $25Bn of liquidity by bringing Staking and DeFi together.
StakeHound creates a liquidity bridge for more than +$25 Bln currently locked in staking. This is the first platform that offers access to DeFi applications while earning staking rewards.
As of September 1st 2020, about +$25Bn worth of assets are locked in staking platforms such as NEM, Tezos or ZCoin. This is increasingly being adopted as one of the preferred mechanisms to secure public networks and will be specially consolidated by the time Ethereum 2.0 releases. It’s estimated that about 65% of Ethereum users will participate in staking.
In the meantime, we have seen how over the last few months, DeFi (Decentralized Finance) has exploded in usage as users are searching for the best opportunities to maximize their yield. Applications such as Aave, Compound or Cream provide users with liquidity to assets that couldn’t be easily borrowed against. The total value locked in different DeFi applications at the moment is +$9Bn.
This presents a difficult choice to the participants of these markets, as they have to choose whether to participate in one or the other, but never in both.
StakeHound brings DeFi and Staking Together
StakeHound is the first platform that tokenizes staked positions so that they can be liquid while earning staking rewards.
- No need to maintain nodes
- No minimum amounts
- No lockups
Users can simply go to Uniswap and purchase stakedTokens directly.
HOW DOES IT WORK?
In order to create a specific stakedToken few steps are required:
Step 1: A user sends any supported non-staked token to StakeHound.
Step 2: StakeHound sends back to the user ERC20 stakedTokens (ex. stakedXZC).
These tokens can be freely transferred, traded and used in all major DeFi applications, such as Uniswap, Aave and others.
Step 3: StakeHound stakes the original tokens and distributes the rewards daily to the stakedToken holders.
However, once wrapped, any stakedToken will be easily tradable on the open market.
stakedXZC — THE FIRST stakedToken
The StakeHound team is extremely proud to announce that the first stakeable token to be added to the platform will be ZCoin (XZC), one of the leading privacy protocols. The first stakedXZC will be live on mainnet early October, although they can be tested already on Ropsten Testnet.
“Znodes are an important part of ZCoin’s infrastructure providing security to the network. However, this also meant that the XZC locked in these Znodes were illiquid. Furthermore, the 1000 XZC minimum requirement prevented smaller holders from earning yields on their XZC. Our partnership with Stakehound solves both these problems by allowing fractional portions of Znodes to be traded while continuing to earn their share of their Znode rewards along with all the benefits of integration with the DeFi ecosystem.” — explains COO of Zcoin Reuben Yap.
LEARN MORE AND GET IN TOUCH
We are extremely excited to meet and answer any questions from our constantly growing community. That’s why we came up with an amazing initiative: weekly live “Ask me Anything” sessions with StakeHound CEO Albert Castellana joined by one of our partners!
For the first session we are most happy to host Radix’s CEO, Piers Ridyard. The session will be held on Thursday, 3rd of September at 12pm CEST.
Are you excited as we are? Let us know what token we shall wrap next by completing this short survey.
JOIN THE TEAM
Stakehound is building a vibrant and multidisciplinary team. This is the best moment to join the team and help us bring StakeHound to the next level. We are especially interested in finding the following heroes:
- Community Manager
- Solidity Developer
- Full stack Developer
But if you have other talents and are convinced that this is exactly what StakeHound needs right now don’t hesitate to reach out! Just fill in this form and we will definitely get back to you.
More info at: https://stakehound.com/
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