#LiquidStaking Week 1
Liquid Staking is one of the most innovative developments in #DeFi. This week we explore it with @ClayStack_HQ.
Read through to explore revenue-generating opportunities!
A thread (π§΅)
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Liquid Staking is one of the most innovative developments in #DeFi. This week we explore it with @ClayStack_HQ.
Read through to explore revenue-generating opportunities!
A thread (π§΅)
[1/5]
What is #LiquidStaking?
Staking in its current form requires users to lock their tokens for a certain period of time, due to which they lose much-needed #liquidity. Liquid staking protocols enable the issuance of liquid tokens to solve this problem.
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Staking in its current form requires users to lock their tokens for a certain period of time, due to which they lose much-needed #liquidity. Liquid staking protocols enable the issuance of liquid tokens to solve this problem.
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Why do you need liquid tokens?
These tokens (csMATIC in the case of @ClayStack_HQ) are #yield-generating #tokens that represent the underlying stake.
So users get the dual benefit of staking rewards and also the opportunity to compound their yields on #Polygon's DeFi.
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These tokens (csMATIC in the case of @ClayStack_HQ) are #yield-generating #tokens that represent the underlying stake.
So users get the dual benefit of staking rewards and also the opportunity to compound their yields on #Polygon's DeFi.
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How to take advantage?
1. Users can visit the website: app.claystack.com/stake/polygon
2. Users can stake their $MATIC tokens on the #PoS Chain itself to get csMATIC.
Note: csMATIC is a value-accruing token that represents your staked $MATIC and its value increases wrt $MATIC.
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1. Users can visit the website: app.claystack.com/stake/polygon
2. Users can stake their $MATIC tokens on the #PoS Chain itself to get csMATIC.
Note: csMATIC is a value-accruing token that represents your staked $MATIC and its value increases wrt $MATIC.
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Apart from being a value accruing token, as @ClayStack_HQ expands its base on #PolygonDeFi, it will have more rewarding use cases.
Follow @0xPolygon for regular updates as we sail through the month with more platforms and opportunities on #LiquidStaking.
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Follow @0xPolygon for regular updates as we sail through the month with more platforms and opportunities on #LiquidStaking.
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