StakeEasy, a liquid staking protocol for the Cosmos ecosystem has raised $320K in seed funding round.
In past few months, we at StakeEasy have been working on making staking cosmos-native tokens simple for the end-users. We were able to successfully launch liquid staking on Secret Network in March this year and have ran a successful liquid staking solution on Juno network’s uni testnet, leading to a smooth Juno mainnet launch this month.
We are glad to welcome Big brain holdings and Cogitent ventures to the StakeEasy, they will be helping us build the top liquid staking solution on Cosmos, working together side by side to support the DeFi ecosystem.
What is Cosmos?
Cosmos is an ecosystem of blockchains that can scale and interoperate with each other. Before Cosmos, blockchains were siloed and unable to communicate with each other. They were hard to build and could only handle a small amount of transactions per second. Cosmos solves these problems with a new technical vision. In order to understand this vision we need to go back to the fundamentals of blockchain technology.
In total there are currently 265+ dApps and services in the Cosmos ecosystem, with key chains including Secret Network, an L1 with customisable privacy, and Juno Network, an interoperable smart contract network.
Working of StakeEasy
StakeEasy lets users stake their $SCRT and $JUNO tokens in exchange for liquid tokens. The staked assets can earn an auto-compounding staking yield and can earn additional yield through actions like lending and providing liquidity thus can be used in various DeFi use cases.
This opportunity not only increases yields for the individual, but has the ability to grow staking participation in general. Increased participation in staking not only strengthens the network, but is a boon for everyone involves and will build the future of the crypto ecosystem.
State of the protocol
- The privacy preserving version of StakeEasy is live on Secret Network. Users can stake their $SCRT token on StakeEasy and get a SNIP-20 token $seSCRT in return which increases in value as the staking rewards get accumulated on the platform.
- StakeEasy is in its final testing phase for Juno Network. Mainnet dApp will be launched in August 2022.
- With 200,000+ $SCRT deposited and 880+ users (at the time of publishing) staking their $SCRT with StakeEasy.
Our growth plan
With this round of financing, we plan to accelerate product development across multiple blockchains and educative/awareness efforts geared towards our community. This will enable us unlock the staked liquidity across the growing DeFi ecosystem in cosmos and beyond. In the future, we plan to launch a number of products and features to assist delegators in maximising their staking returns with greater ease.
- We will expand the cosmos-native assets’ liquid staking offering to include all the major cosmos assets such as $ATOM, $OSMO, $AKT etc using IBC and Interchain-Accounts.
- We will also build native smart contracts for staking on multiple blockchains, including Near, Polkadot etc.
Want to Enjoy Staking your $SCRT with StakeEasy?
Move forward to our Mainnet app.
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