The Tezos ecosystem has announced the launch of stXTZ, a token designed for liquid staking. It integrates with the Layer 2 blockchain Etherlink.
New Liquid Staking Capabilities
The stXTZ token serves as a liquid staked version of the native XTZ token. Users can maintain liquidity of their funds while earning staking rewards through DeFi applications on Etherlink, powered by Tezos Smarp Rollup.
DeFi Expansion on Tezos
The liquid staking market has seen significant growth, surpassing $45 billion. Tokens such as stETH from Lido Finance have become backbone assets of DeFi ecosystems, allowing users to earn staking rewards while maintaining asset liquidity.
Team and Management of stXTZ Token
The Stacy.fi platform, which created the stXTZ token, is managed by the Youves decentralized autonomous organization. 90% of staking rewards are distributed to token holders, while 10% is allocated to a reward-collecting contract overseen by the DAO.
The launch of stXTZ on Etherlink paves the way for DeFi users on Tezos, allowing them to effectively utilize their funds and earn staking rewards.
