GDAC, the leading digital asset exchange in South Korea, just announced the launch of a staking derivatives product for Luna. “LUNA GROW”, which is the Luna staking derivatives product of GDAC will be launched on February 24, 2020.
Unlike direct on-chain staking, the LUNA GROW product enables users to access staking with much shorter undelegation periods. Compared to direct on-chain staking which takes 21 days for undelegation, the LUNA GROW product enables users to undelegate theirs assets within 10 minutes, using their own proprietary technology.
This is not the only exciting thing about LUNA GROW. One of the biggest limitations of current PoS staking is that you can’t move your assets during the staking period. What this means is that people who stake can’t react to market volatility during the staking period. This makes staking less attractive. But as GDAC GROW supports trading with LUNAX (bonded Luna), people who want to stake Luna can easily stake their Luna with lower price risk.
LUNA GROW is not just an exciting opportunity for shortening withdrawal times and lower risk staking. Staking derivatives can be used as a useful primitive in lots of other use cases. We expect LUNA GROW will be the start of staking derivatives in the Terra ecosystem. We are excited to see the assets the community envisions and can’t wait to see them trade on leading exchanges like GDAC!
For those of you interested in LUNA GROW, you can find instructions below:
Also GDAC will run launching events on LUNA GROW product. Learn more about the LUNA GROW Launching Events at GDAC!
