Meta Pool Deploys a Liquid Staking Token on the Internet Computer Protocol Blockchain

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Launch of Liquid Staking Token
  2. Meta Pool's Mission
  3. Functions and Integrations of stICP


    4. Meta Pool, a liquid staking platform, has announced the launch of a new staking token stICP on the Internet Computer Protocol blockchain, allowing users to more effectively utilize DeFi platforms.

    Launch of Liquid Staking Token

    Meta Pool has announced the deployment of a canister on the Internet Computer Protocol blockchain to add more utility for the ICP token and support Decentralized Finance (DeFi) platforms. The new token stICP allows users to deposit their ICP tokens into the service and mint stICP, enabling them to accrue rewards from the governance system. This is facilitated by chain-key cryptography.

    Meta Pool's Mission

    Meta Pool aims to provide early exposure of the liquid staking service to the ICP ecosystem in regions such as Africa, Latin America and Southeast Asia. Operating under a Decentralized Autonomous Organization (DAO) structure, the organization recognizes the importance of expanding DeFi to a broader audience for massive crypto adoption.

    Our goal is supporting the ICP ecosystem through DeFi protocols, in our case with a liquid staking token representing the rewards generated by an auto compounding digital savings account in the form of stICP. We want to explore the full capacity of the Internet Computer Protocol.Lucio Tato, Meta Pool Co-founder

    Functions and Integrations of stICP

    The new stICP token allows users to earn staking rewards without locking assets or maintaining staking infrastructure. ICP users can stake tokens and receive tradable liquid tokens in return, allowing for more exposure to DeFi protocols being built on the Internet Computer Protocol blockchain.

    The addition of stICP to the Meta Pool platform opens new opportunities for ICP users and contributes to the development of DeFi on the Internet Computer Protocol blockchain. With the launch of the new token, increased participation in voting and reward generation for DAO participants is expected.

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