Horizen

Bitcoin

Polkadot

Bifrost

<div class="finbold">
 <p class="paragraph">Bifrost, a leading liquid staking protocol, unveiled LoopStake, a new product aimed at simplifying leverage staking for users within the Polkadot (DOT) ecosystem, as per the information shared with Finbold on March 13.&nbsp;</p>
 <h2 class="wp-block-heading" id="h-what-is-loopstake">What is LoopStake?</h2>
 <p class="paragraph">Leverage staking, i.e., staking assets to obtain a liquid staking token (LST) and then using it as collateral to borrow staked assets, is a complex and resource-intensive strategy.</p>
 <p class="paragraph">LoopStake eliminates the need for manual looping, democratizing <a rel="noopener noreferrer nofollow" title="leverage" href="https://thebittimes.com/tag/leverage.html">leverage</a> <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a>, and offering users a one<a rel="noopener noreferrer nofollow" title="-click" href="https://thebittimes.com/tag/click.html">-click</a> solution to amplifying yield on their staked assets.</p>
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 <p class="paragraph">Built on the Substrate framework and leveraging Polkadot’s interoperability, LoopStake represents a significant milestone in liquid staking adoption.&nbsp;</p>
 <p class="paragraph">With around $150 million in total value locked (TVL), Bifrost is currently the largest liquid staking protocol on Polkadot.&nbsp;</p>
 <p class="paragraph">Initially, LoopStake will support assets such as DOT, although there are plans for expansion to encompass a broader range of assets, including cross-chain offerings.</p>
 <h2 class="wp-block-heading" id="h-the-rising-prominence-of-liquid-staking">The rising prominence of liquid staking</h2>
 <p class="paragraph">Liquid staking now represents the largest category within decentralized finance (DeFi), boasting approximately $50 billion in TVL.</p>
 <p class="paragraph">Lurpis Wang, Bifrost CEO and co-founder, emphasized the platform’s dedication to providing investors with unparalleled opportunities in crypto asset management, stating:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“With the launch of LoopStake by Bifrost, we are opening a new chapter in crypto asset management and providing investors with unprecedented value-added opportunities. This innovative solution aims to give users greater flexibility and higher potential returns through a lending curve customized for <a rel="noopener noreferrer nofollow" title="liquid" href="https://thebittimes.com/tag/liquid.html">liquid</a> <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> tokens, marking our commitment to continuous exploration and innovation in decentralized finance.”</p> <cite>— Lurpis Wang, Bifrost CEO and co-founder</cite>
 </blockquote>
 <p class="paragraph">Bifrost’s liquid staked tokens, vDOT and vKSM, have seen commendable growth, with vDOT surpassing the 7,000,000 DOT ($68M) threshold in TVL and vKSM getting close to 500,000 KSM ($25M).&nbsp;</p>
 <p class="paragraph">This success testifies to the rising prominence of liquid staking in the decentralized finance (DeFi) space, particularly following Ethereum’s (ETH) Shapella upgrade, which facilitated ETH withdrawals from staking contracts.&nbsp;</p>
 <p class="paragraph">Liquid staking tokens are emerging as preferred collateral within DeFi thanks to their versatility and “risk-free” yield similar to fixed-income products seen in traditional finance.&nbsp;</p>
 <p class="paragraph">LST adoption is thus on an upward trajectory, indicating a paradigm shift in crypto asset management and investment strategies.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bifrost-introduces-one-click-leverage-staking-within-polkadot-amid-a-liquid-staking-boom-tbt82406.html">https://thebittimes.com/bifrost-introduces-one-click-leverage-staking-within-polkadot-amid-a-liquid-staking-boom-tbt82406.html</a></p>

Bifrost introduces one-click leverage staking within Polkadot amid a liquid staking boom

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