Radix, one layer protocol The company developed specifically for DeFi announced today that StakeHound, an institutional liquid staking provider, will be one of the first projects integrated into the network. As the Radix team prepares for the launch of Betanet in April, StakeHound will run validation nodes on Radix Betanet and Mainnet, providing participants in the XRD ecosystem with seamless access to Ethereum DeFi.
The Radix platform supports a number of interconnected DeFi apps at the same time, each running with high throughput and without compromising on decentralization. The Betanet is a final large-scale stress test that marks the completion of major core developments at Radix in preparation for its first public network release later this year. At this stage, StakeHound will be one of the first validation nodes on the network and one of the first applications to be fully deployed with Radix at launch.
“StakeHound is a revolutionary DeFi product that eliminates the need for users to choose between securing Layer 1 protocols or participating in the DeFi application ecosystem,” said Piers Rydiard, CEO of Radix. “Their institutional custody and involvement, as well as their liquidity tokens, add to the liquidity and security of the Radix network, as well as the liquidity of the other communities we work closely with in the Ethereum DeFi ecosystem.”
The total market capitalization of Proof-of-Stake (PoS) protocols is over $ 456 billion with a total of $ 113 billion tied in stakes according to Staking Rewards website. StakeHound offers its liquid staking solution to capture a portion of the stakeout value and integrate it seamlessly into the growing DeFi ecosystem. By creating ERC-20 packaged XRD, called stXRD, holders qualify for stable payout award payouts and can also participate in the Ethereum DeFi ecosystem, provide liquidity to AMM pools, participate in income farming and use it as collateral for lending and borrowing use, and more.
“By integrating StakeHound into the Radix ecosystem, we are multiplying the reward opportunities for the Radix community while also helping to secure the network,” said Albert Castellana, CEO of StakeHound. Radix holders qualify for a portion of the 300 million annual XRD wagering rewards while getting liquid access to the best DeFi products on Ethereum such as: B. to collect UniSwap LP fees. “
StakeHound is an institutional liquid staking provider that bridges the gap between PoS staking and DeFi staking for key protocols like DASH, NEM, Firo (formerly ZCoin) and more.