September 2020 Retrospective
This month was devoted to development. We have so many projects in the oven — from BLND on Tezos and Algorand, to wALGO (wrapped Algorand) and wXTZ (wrapped Tezos), and last but not least, StakerBridge, that will bring it all together to the multichain era.
Wrapped Tokens, and the StakerBridge
Wrapped Tokens
As mentioned before, the wrapped products will be a fully collateralized representation of their original token.
What are the Anticipated Benefits and Use Cases of the wrapped products?
- INCREASED UTILITY — as a primitive on the native network, builders will have a liquid instrument to utilize in DeFi products (e.g. as collateral in a lending product) without reducing the amount of tokens staked in the network.
- INCREASED YIELD — receive staking rewards while utilizing the wrapped token to further increase yield (e.g potential partnerships: lending on Compound, contributing to a liquidity pool or as collateral in a Maker Vault, etc.)
To learn more about wALGO, please click here.
StakerBridge
An open-source, trustless method for transferring a derivative product on one chain to another.
The StakerBridge process modifies the TokenSwap open-source algorithm so that a single party is both the transmitter and receiver of their token, enabling a seamless transfer of tokens from one chain to another.
The StakerBridge algorithm is specifically structured so that this single party can move a token on one network to another network in a trustless model. If either side of the transaction fails to process, the user’s tokens are unlocked on the originating network.
The methodology ultimately only allows for one of two options:
StakerBridge is the protocol that will allow StakerDAO users to bridge their BLND, wALGO, wXTZ and more products to come, between the different networks — enabling the multichain era.
To learn more about StakerBridge, please click here.
The STKR Token
A big part of our community has taken an interest in acquiring STKR when it becomes available. We are working on creating an increased distribution of STKR, but these details will be released over the next few months as we become comfortable with the architecture.
We decided to create this signup form to update you once we have more information. Stay tuned!
September Events
We participated at AIBC Americas Digital Summit! Christian Arita was on the panel: DARE TO DEFI? WHAT’S THE RETURN ON INVESTMENT?
We also held an AMA on Tezos Reddit to talk about wrapped Tezos with the community. You can see the discussion here.
To learn more about September events and our future events, visit the “StakerDAO Events Calendar”.
We want to use this opportunity to wish the global community lots of health.
The StakerDAO team.
Stay tuned to more StakerDAO news
Telegram channel: @stakercommunity
Twitter: StakerDAO
Reddit: r/Staker_Governance
LinkedIn: @StakerDao
YouTube: StakerDAO
*StakerDAO is a tradename of Staker Services Ltd., a Cayman exempt corporation. References herein to StakerDAO are to Staker Services Ltd.*
***This notice does not constitute an offer of any securities for sale. BLND is not offered and may not be sold to or for the benefit of any “U.S. person” as that term is defined under U.S. securities law. If you are a U.S. person you may not purchase BLND.***
