Today, we are excited to announce the official launch of stakedDash. This is Dash’s first move into Ethereum’s world of DeFi. The partnership between StakeHound, DASH NEXT and Dash Core Group to launch the ERC-20 wrapped token stDASH will improve DASH’s liquidity and build a bridge to access the booming DeFi ecosystem.
- Earn staking rewards: Holders of stakedDASH (stDASH) will receive a proportional part of DASH staking rewards, depending on the size of their stDASH holdings.
- Arbitrage opportunities: StakedDASH can be freely traded on the open market thus creating opportunities for arbitrage.
- Provide liquidity through DeFi: Holders can make additional income by providing liquidity on decentralized exchanges, also known as yield farming.
- Lending and borrowing: stDASH can be used in multiple DeFi applications for lending and borrowing; creating various opportunities for stDASH holders who can now also borrow against their staked tokens.
Contact Information: For press and media inquiries please contact the Dash press team at [email protected] We look forward to hearing from you.
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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 @stakedTokens.
