Liquid Staking
Liquid staking is another area in which Migaloo Zone excels. Migaloo and WHALE tokenomics unlock the true power of Liquid Staking Tokens (LSTs).
What is Liquid Staking?
Liquid staking is a solution for locking up a user's tokens and contributing to the security of proof of stake blockchains. With liquid staking, users can stake on a PoS network without compromising their ability to transfer ownership of their staked tokens by generating a transferable liquid staking token (LST), which demonstrates ownership of staked tokens and any network rewards accrued to those tokens.
With traditional methods of staking, users coins are subject to bonding and unbonding period (21-days), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their tokens and receive a receipt token as evidence of their ownership of their staked token. The receipt token can be transferred, stored, traded, and utilized in DeFi or supported dapps.
BackBone Labs
BackBone Labs are pioneers in the NFTFi space, enabling yield-bearing NFTs to thrive across the Cosmos by using their LSTs across various chains to bootstrap NFT yield and LST liquidity.
Eris Protocol
Eris Protocol are setting an industry standard with their high yield LSTs and a host of DeFi yield automation, simplifying DeFi and boosting yield for all. Eris Protocols arbWHALE vaults ensure that WHALE LSTs stay pegged to there true price by leveraging arbitrage bots.
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