Liquid Staking Revolutionizes IOTA’s DeFi Scene
On May 7, Swirl introduced liquid staking to IOTA’s mainnet, marking a significant step for the network. This innovation allows users to earn staking rewards while keeping their assets liquid.
Swirl is the first liquid staking solution on IOTA’s layer 1 network. Users can now stake their IOTA tokens and receive stIOTA tokens in return. Thes stIOTA tokens can be traded or used as collateral in DeFi protocols. This feature enhances liquidity and capital efficiency.
How does it work? Users stake their IOTA tokens and get stIOTA tokens. These stIOTA tokens can be traded or used as collateral. The stIOTA tokens accumulate rewards, offering an annual yield of 10%-15%. The rewards are automatically reinvested, boosting their holdings without manual intervention. This means you can earn rewards and still trade your assets freely. It’s a win-win for IOTA users.
Swirl’s integration is a game-changer for IOTA’s DeFi ecosystem. It offers users a way to earn rewards on their staked tokens while maintaining liquidity. This feature is expected to boost the network’s growth and efficiency.
According to Dominik Schiener,Co-Founder and Chair of the IOTA Foundation,this partnership sets new standards for decentralized finance.It enables new forms of utility through DeFi and equips users with tools for sustainable capital growth. The IOTA Foundation is committed to decentralization,security,and a diverse user experience.
With liquid staking, users can earn rewards and trade their assets freely. The stIOTA tokens can be used as collateral in DeFi protocols, enhancing the network’s utility. The IOTA Foundation believes this innovation will substantially grow the IOTA ecosystem.
