Liquid Staking is a growing alternative to locking up user's tokens & contributing to the security of PoS blockchains.
23 Feb 2023, 11:21
💧Liquid Staking is a growing alternative to locking up user’s tokens & contributing to the security of PoS blockchains.
Users access liquidity by staking their token on a protocol & receiving a Liquid Staking Token (LST), unlocking liquidity for staked cryptocurrencies.
🔥Along with the basic liquid staking benefits, vMOVR & vGLMR holders could also enjoy the following benefits:
âś…Higher APR vs. Average Network APR
âś…Automatic staking reward distribution
âś… Participation in LP Farming with vMOVR and vGLMR
âś… Flexible redemption period
⏩ What's next ?
Bifrost's future includes Moonriver and Moonbeam Networks native use-cases and features.
- The team is developing an SLP XCM Action pallet for vToken communication between Bifrost and other Parachains, including EVM-compatible and non-compatible parachains.
- We are also deploying an SLP SDK for calling XCM Action pallet mint, redeem & swap.
This will facilitate x-chain liquidations for vTokens and their use case in DeFi native protocols.
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