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Boost your earnings with NEOPIN Liquid Stake
Liquid stake is a staking service that allows users to stake assets and receive liquidity tokens in return, allowing them to leverage their assets across multiple DeFi protocols.
In conventional Proof of Stake (PoS) staking services, staking an asset has the advantage of stably receiving rewards from the blockchain network, but it has the disadvantage of not being able to use the asset during the staking period.
Liquid staking provides a corresponding token when an asset is staked, allowing the asset to be liquidized even while it is staked.
In essence, liquid staking is a solution that retains the advantages of traditional PoS staking while improving on its drawbacks.
* Available Services: Klaytn Liquid Staking, Ethereum Liquid Staking(Coming soon in July 2023)
When users stake assets in a liquid staking product on NEOPIN, “NEOPIN’s Staked Tokens” (npTokens, e.g. npETH, npKLAY) of the same or equivalent value as the staked asset will be minted and distributed, and users can utilize these tokens in various DeFi protocols.
Plus, just like NEOPIN’s single staking products, users can stake with small amounts of assets. For example, while Ethereum requires a minimum of 32 ETH to operate a node, NEOPIN allows users to stake as minimum as 0.01 ETH.
In addition, rewards are a compounded return of staked assets as they are automatically re-staked. With NEOPIN’s liquid staking product, users do not need to manually claim and re-stake their rewards to achieve a compounded return as with single staking products.