The stacy.fi team has introduced the new stXTZ token, which provides liquid staking for Tezos users on the Etherlink platform. This solution allows users to maintain asset liquidity while earning staking rewards.
What is stXTZ and How It Works
stXTZ is a token representing liquid staked Tezos (XTZ), launched on the Etherlink Layer 2 blockchain. By using stXTZ, users can stake their Tezos while retaining full liquidity, allowing them to continue earning staking rewards.
Advantages of Liquid Staking
Liquid staking, utilizing tokens such as stXTZ, addresses capital inefficiencies present in traditional staking. Users can accumulate rewards while keeping access to their assets, leading to increased adoption across lending, trading, and yield farming platforms.
Integration of stXTZ into the Etherlink Ecosystem
stXTZ tokens have already begun integration into the rapidly evolving DeFi ecosystem on Etherlink, including lending and trading platforms. A crucial aspect of stXTZ's functionality is its compatibility with the Acurast oracle, providing real-time price data for smart contracts. "The integration of stXTZ addresses a fundamental challenge for users seeking to earn staking rewards while participating in Layer 2 DeFi," said David Relkin, Head of DeFi at Nomadic Labs.
The launch of the stXTZ token on Etherlink marks an important step in the development of liquid staking within the Tezos ecosystem, offering users new opportunities to engage in DeFi.
