StakeHound partners with DASH NEXT and Dash Core Group to offer DASH users access to DeFi applications while earning staking rewards. With stakedDASH hitting the market later this year StakeHound will connect two ecosystems and open a gateway for liquidity flow.
“With DeFi, different Blockchains are finally coming together. I am very excited about this partnership as it provides DASH users the benefits of DeFi applications such as lending or borrowing, and Ethereum users with an easy way to use DASH’s established global payment ecosystem.”
Felix Mago, Co-Founder of DASH NEXT
“This is certainly a unique and exciting partnership for the Dash Network. With Dash extending into DeFi as a result of this partnership, new doors and use cases will be available to Dash users as well as ERC-20 blockchain users. This functionality provides the ability for one to explore the world of DeFi or from the other side, the world of Dash while continuing to see returns through staked Dash. I am excited to see how this partnership evolves and the great work that will result.”
Ryan Taylor, CEO of Dash Core Group
- Holders of the stakedDASH are entitled to receive the same staking rewards as if they had held the original token. With a crucial difference that with StakeHound they don’t need to necessarily stake 1000 DASH for the entire masternode but can have a proportional part of it depending on their investment. The minimum amount of DASH required to stake is 1 DASH.
- StakedDASH can be freely traded on the open market thus creating opportunities for arbitrage.
- Holders can make additional income by providing liquidity on decentralized exchanges also known as yield farming.
- StakedDASH can be used in multiple DeFi applications for lending and borrowing thus creating various opportunities for it’s holders who can now borrow against their staked tokens for instance.
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Dash is digital cash designed to offer financial freedom to everyone. Dash allows millions of individuals across the globe to carry out instantly re-spendable and secure transactions, with near-zero fees. Built to support real-life use cases, Dash is the leading decentralized payment solution: it is accepted at merchants globally, accessible via 1,600+ ATMs and 100+ exchanges worldwide. Dash has pioneered groundbreaking features including a two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks) and more. The Dash Network’s development is supported by Dash Core Group, the largest organization funded by the Dash Treasury, which supports and nurtures the continued worldwide development and integration of Dash. For more information, visit https://www.dash.org/ or follow the organization on Twitter @DashPay.
StakeHound brings staking and DeFi together and eliminates the hard choice between earning staking rewards and liquidity. StakeHound builds up a bridge which unlocks a $35 billion market currently locked in staking to the DeFi ecosystem. All assets are stored under institutional grade custody solutions, insured and can be audited in real-time on ledger. For more information, visit https://stakehound.com/ or follow the organization on Twitter @DashPay.
