HAQQ Network Partners with Stride Zone to Introduce Liquid Staking for ISLM Holders
TL;DR: HAQQ Network has partnered with Stride Zone, a premier multichain liquid staking protocol within the Cosmos ecosystem, to bring liquid staking to ISLM tokens. This integration allows HAQQ users to stake their ISLM tokens, earn rewards, and retain liquidity by receiving tradable staked tokens (stISLM) for use across various DeFi platforms. With HAQQ committing to stake 100 million ISLM through Stride, enhancing Stride’s total value locked, this collaboration significantly boosts user flexibility and financial opportunities. This partnership highlights HAQQ's commitment to fostering an innovative and ethical DeFi ecosystem.
HAQQ is thrilled to announce our integration with Stride Zone, a leading multichain liquid staking protocol in the Cosmos ecosystem. This collaboration aims to significantly enhance the HAQQ ecosystem by integrating liquid staking, allowing users to stake their ISLM tokens and earn rewards while maintaining liquidity.
Enhancing the HAQQ Ecosystem Through Liquid Staking
Stride Zone addresses inefficiencies in the Cosmos ecosystem by enabling users to stake various IBC-compatible tokens and earn staking rewards without sacrificing liquidity. Through its innovative system of wrapped tokens, Stride Zone allows users to enjoy the benefits of staking while keeping their assets liquid. Users deposit their ISLM tokens into Stride and receive staked versions of their tokens, known as stISLM. These stISLM tokens represent the underlying ISLM assets and accrue staking rewards over time.
To start your liquid staking journey:
How Liquid Staking Works
Unlike ordinary staking, where assets are locked up, stISLM tokens are freely tradable on DeFi platforms. This means users can participate in other financial activities while their ISLM tokens continue to earn rewards. When users wish to redeem their stISLM tokens, they can do so at any time, receiving their original ISLM tokens along with the accumulated rewards. This flexibility allows users to leverage their stISLM tokens across various DeFi platforms for activities such as lending and borrowing, thus enhancing their financial opportunities.
HAQQ Network's Commitment to increase Stride's TVL
Following this successful integration, HAQQ has committed to staking at least 100 million ISLM through Stride from our treasury. This substantial contribution will add an additional 4% to Stride’s total TVL, positioning the HAQQ Network as the 5th largest by TVL volume on Stride. This move underscores our commitment to this partnership and aims to bolster the Stride community's profitability.
Benefits of Liquid Staked ISLM (stISLM)
The integration of liquid staked ISLM tokens offers significant advantages. Users can use their stISLM tokens to engage in DeFi activities such as liquidity provision, borrowing, and lending on various platforms. For instance, users can provide liquidity in a decentralized exchange pool with stISLM and earn additional rewards. stISLM tokens can also be used as collateral to secure loans on DeFi platforms, allowing users to access capital without having to unstake their ISLM tokens, thus continuing to earn staking rewards. Moreover, users can stake their stISLM tokens in yield farming protocols to earn extra returns, creating multiple layers of income from their original ISLM stake.
Expanding the Ethical DeFi Landscape
The significance of this integration extends beyond individual benefits. It marks a pivotal step in the cross-pollination of DeFi ecosystems, broadening the ethical landscape of decentralized finance. By integrating with Stride, we ensure that HAQQ ecosystem users can enjoy the highest standards of security, efficiency, and profitability while adhering to ethical principles.
This collaboration exemplifies HAQQ’s commitment to providing users with cutting-edge solutions that enhance their ethical financial experience. The introduction of liquid staking for ISLM tokens is a significant advancement. This partnership is not just about enhancing the technical capabilities of the HAQQ Network but to promote a more inclusive, secure, and ethical DeFi landscape for all.
Build on HAQQ
Are you passionate about building ethical DeFi solutions? We invite builders to join the HAQQ ecosystem with hands-on support and funding opportunities from our $40 million ecosystem fund. Connect with us and be a part of shaping the future of ethical finance. Stay connected for more updates: Follow us on Twitter and Discord.
