After seeing the replies to my poll on LSTs on Monad, it's clear we need more awareness in the community.
So this week is LST week, expect daily content till end of this week.
Wrote a short intro to liquid staking earlier, check it out below 👇
More coming soon.
Liquid staking is one of the most biggest and important sectors in crypto.
On @monad_xyz, there are already four major teams building a liquid staking protocol, @Kintsu_xyz, @MagmaStaking, @0xFastLane and @apr_labs.
For those who do not know what liquid staking is, here is a quick explanation:
A liquid staking protocol allows users to stake the native token ( $mon, $eth) of a blockchain (Monad, Ethereum) and earn staking rewards while receiving a derivative token which is liquid and represents their staked assets.
Unlike traditional staking, where tokens are locked and inaccessible.
The liquid staking token from such protocols remains fully tradable and can be used in DeFi, such as lending, yield farming, and trading, enabling users to earn more rewards from it.
Some liquid staking protocols also distribute staked assets across multiple validators, reducing centralization risks.
Each liquid staking protocol on Monad has its own Liquid Staking Token (LST):
Kintsu - $sMON
Apriori Labs - $aprMON
FastLane - $shMON
Magma - $gMON
Users on Monad will be able to use these LSTs in their favourite DeFi protocols, such as @Monadex_labs, @Bean_DEX, @Curvance, @DrakeExchange, @KuruExchange, and @NitroFinance etc.
I will be posting in-depth articles about each liquid staking protocol. For now, here is a video where I try out all the liquid staking protocols on Monad.
Comment below with your favourite liquid staking protocol, the one with the most mentions will be the first I write about.
Follow me @0x_yash21 for daily updates and insights into the Monad ecosystem.
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