ClayStack

On ClayStack, 1:1 staking derivatives are fungible and can be traded or transferred. Through CLAY tokens, liquidity providers can earn rewards when they make derivatives markets liquid. ClayStack has multi-blockchain support and, thus, will enable you to interact with multiple blockchains at no additional cost.

Additionally, transparency is guaranteed at ClayStack as everything is executed on-chain. There are no lock-up periods in ClayStack, thereby giving you the ability to transfer or sell your stake tokens at any preferred time. You can also choose to stake as many, or as few, tokens you desire as there are no minimums.

Over the last few months, the ClayStack team has been working on building the platform and improving the entire user experience. In addition, pre-seed funding has been raised from CXOs in the blockchain industry. Currently, the team is working on providing a liquidity solution and is accepting partnerships.

With ClayStack, a novel approach is utilized towards staking. ClayStack makes use of relayers and oracles to ensure that interchain communication can be possible with any blockchain. When users deposit their tokens to ClayStack smart contracts, they will also be able to directly mint the equivalent derivative token on the Ethereum chain.

Staking of these tokens is made to WolfEdge Capital validator nodes, and every day, derivative token holders receive their rewards. Furthermore, users can use their synthetic/derivative tokens in DeFi applications. By doing so, you can improve your earning rewards.

With staking, your freedom with your crypto can be restricted. This represents some of the challenges associated with staking your assets. To secure the network, staked assets are held in an escrow contract in order to carry out the registration process of the delegator in the consensus. Even when you keep on receiving staking rewards, you are still unable to gain access to your staked assets as a token holder.

In the staking process, an unbonding period is usually required. The unbonding period is the time where you, as a token holder, will wait before assets can be transferred or sold. Topping all other challenges associated with staking is the opportunity costs. Staked assets may be unable to participate in new DeFi opportunities that may arise.

Mohak Agarwal is the CEO of ClayStack, and in a report, he talked about the challenges associated with staking crypto and how ClayStack addresses these challenges.

ClayStack, a platform that offers decentralized liquid staking and is funded by CoinFund, CoinBase, and ParaFi, will introduce Malawi Testnet later this month.

Users may easily bet their crypto assets to retain their liquidity on the ClayStack platform. Users depositing crypto at the smart contract of the platform will receive a liquid derivative token that is fungible, transferrable, and receives daily incentives.

Users will be able to bet onMATIC in exchange for csMATIC after the platform has been deployed on the testnet. The derivative token csMATIC will represent the staked MATIC and will be usable within Polygon’s DeFi ecosystem. ClayStack intends to expand the csMATIC token’s use cases in the future. Compared to other liquid betting developers tied up with single tokens, ClayStack offers complete cross-chain support using multiple tokens.

Liquid Staking is basically a new development in DeFi. It helps in releasing tokens that are locked into the staked contracts. It further helps investors to invest for a better return. During this process, the liquid staking cancels all the locked-up periods that are connected in the traditional crypto staking. Users must stake their tokens on PoS chains for network protection. Native tokens had minimal use when PoS networks initially appeared. Users’ best bet was to entrust their assets to the Validator in exchange for incentives.

With the introduction of DeFi, however, newer methods for increasing the overall efficiency in the economy of native assets have evolved, further reducing the percentage of staked assets. ClayStack seeks to fill this need by allowing users to stake their assets without sacrificing liquidity.

For ClayStack, partnering with MATIC is not limited to the business but is the method to empower users of Polygon by unlocking liquidity. There are currently $3B with Polygon along with 27% staked tokens in the form of rewards. The integration is to allow all its users to stake tokens and use intuitive UI, and also take part in the network security that would generate good liquidity yields.

ClayStack’s team, backed by Mohak Agrawal, has been working with Polygon since the initial period of Polygon PoS testnet.

From 2019, Agarwal has been operating nodes with >95 percent uptime, making him one of the Polygon network’s oldest Validators. He serves on the Validator advisory board and collaborated with the Polygon core team on various proposals. Polygon is the first promising network to benefit from the ClayStack team’s diligent work on the infrastructure of liquid staking.