Welcome to our overview of the top 16 liquid staking platforms of 2023. In the world of cryptocurrency, staking has emerged as a popular way for investors to earn rewards while holding their assets. Liquid staking takes this concept to the next level, allowing investors to earn rewards while also maintaining the ability to use their staked assets in other ways. Liquid staking platforms enable users to stake their assets and receive liquid staking tokens (LSTs) in return, which can then be traded or used in other decentralized finance (DeFi) applications.
The emergence of blockchain technology has revolutionized the world of finance and introduced innovative ways to earn passive income through staking. Traditionally, staking involved locking up cryptocurrency assets to support the security and consensus of a blockchain network. However, a game-changing concept called “liquid staking” has evolved to provide stakers with increased flexibility and liquidity while still participating in the staking process. In this article, we will explore the concept of liquid staking, its benefits, and its impact on the cryptocurrency ecosystem.
Liquid staking is a groundbreaking advancement that allows users to participate in proof-of-stake (PoS) networks while maintaining the liquidity of their staked assets. In traditional staking, once users commit their cryptocurrency to the staking process, it becomes illiquid and inaccessible for the staking duration. This lack of liquidity poses challenges for users who may require immediate access to their assets for various reasons, such as trading or unforeseen financial needs.
However, liquid staking platforms have emerged to address this issue by issuing “staking derivatives” or “wrapped staking tokens” in return for users’ staked assets. These tokens represent the staked assets and can be traded or used in various decentralized finance (DeFi) protocols, providing users with liquidity and the ability to benefit from staking rewards simultaneously.
In this article, we will explore the top 16 liquid staking platforms of 2023, highlighting their unique features and benefits to help you make an informed decision about where to stake your assets.
RoboFi is a decentralized finance (DeFi) platform that operates on the blockchain. It offers users a range of staking services for multiple cryptocurrencies. Some of the cryptocurrencies supported by RoboFi for staking include VICS, Ethereum (ETH), and others. By utilizing RoboFi’s staking services, users can earn rewards on their staked assets.
The rewards provided through RoboFi staking can vary based on the specific cryptocurrency being staked and the duration of the staking period. Generally, longer staking periods result in higher rewards, while shorter periods offer more flexibility and liquidity. This allows users to select a staking strategy that aligns with their investment goals and risk tolerance.
In addition to staking rewards, RoboFi offers other DeFi services such as decentralized exchanges and liquidity pools. These services aim to enhance users’ access to cryptocurrency markets and enable them to earn rewards through various methods. Overall, RoboFi is a comprehensive platform that provides a range of DeFi services and opportunities for cryptocurrency holders to generate passive income from their investments.
SnapBots.io is an artificial intelligence (AI) research firm that focuses on the application of AI, decentralization, and robotics in the financial industry. They aim to help users gain yield from their passive cryptocurrency holdings.
Their services seem to be designed to be simple and easy to use, with an emphasis on mitigating risk. They offer features such as a crypto wallet and staking, which allows users to earn rewards by participating in the network of a particular cryptocurrency.
SnapBots also appears to be involved in crowdsourcing and provides educational content on topics like the differences between centralized exchanges (CEX) and decentralized exchanges (DEX), the concept of liquidity pools, the rise of non-fungible tokens (NFTs), and the importance of trading psychology.
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Socean is an innovative platform built on Solana’s blockchain that offers a liquid staking solution for SOL token holders. By staking their SOL tokens on Socean, users can earn a risk-free annual percentage yield of up to 6.34%. As a reward for staking, users receive scnSOL tokens, which can be used within the Solana ecosystem. These tokens also increase in value as the Socean staking pool earns rewards.
One of the key benefits of Socean is the ability for users to easily unstake their tokens and exchange scnSOL for SOL at any time. This ensures that users have full control over their assets and can easily access their funds whenever they need them.
In addition to staking, Socean offers a service called Streams. This allows protocols to sell their governance tokens with vesting periods, giving them greater control over the inflation rate. Socean also provides software development kits to help developers integrate Socean with other applications.
Lido is a liquid staking platform that was launched in December 2020, and it has quickly become a leader in the industry. The platform allows users to earn interest on their cryptocurrencies across multiple blockchains, making it a popular choice among crypto enthusiasts. The Lido DAO governs the protocol, which includes choosing node operators and fees, and ensuring the security of the platform.
When users stake their assets on Lido, they receive a liquid token like stETH, which can be used across decentralized finance (DeFi) applications and even staked for additional yield. This is a unique feature, as traditional staking assets are typically locked up and cannot be used elsewhere. Lido maximizes user earning potential by allowing them to keep using the liquid tokens across DeFi.
While Lido is focused on Ethereum, it also supports several other blockchains, including Solana, Kusama, Polkadot, Polygon, and Terra. This makes it a versatile platform that can be used by a wide range of users across the crypto ecosystem.
Overall, Lido is an innovative platform that offers users the ability to earn rewards while maintaining liquidity and control over their assets. Its strong governance structure and support for multiple blockchains make it a top choice for anyone looking to stake their crypto assets and participate in the world of DeFi.
Stader Labs is a leading multichain liquid-staking solution in the world of decentralized finance, having been founded in 2021. The platform supports six different networks, enabling users to deposit tokens into liquid staking contracts. These contracts ensure that holders continue to earn staking rewards, while also being able to use their crypto in other applications.
Stader Labs is one of the largest and safest liquid-staking applications in the industry, having undergone code audits by reputable firms such as Certik, Peckshield, and Halborn. This has helped to ensure that the platform is secure and reliable for users to deposit their crypto assets.
In the near future, Stader Labs is expected to integrate staking support for additional networks, including Ethereum, Solana, and Avalanche. This will further expand the platform’s capabilities and allow more users to participate in liquid staking across a wider range of networks.
Argo is a platform that aims to unlock the full value of all staked CRO (Crypto.com Chain) and maximize the capital efficiency of CRO across the Crypto.com ecosystem. By using Argo’s liquid staking solution, users can earn additional DeFi yields on their CRO holdings.
The Argo platform also includes a unique NFT collection called the Argonauts, which is made up of 8,888 utility-enabled characters that represent a user’s unique identity on the Cronos chain. These NFTs have utility within the Crypto.com ecosystem and can be used to access special features or benefits.
Through Argo’s liquid staking solution, users can stake their CRO and receive bonded CRO (bCRO) in return. bCRO is a liquid staking derivative that represents a user’s staked CRO and can be used across the DeFi ecosystem in Cronos to generate additional DeFi yields. This enables users to maximize the capital efficiency of their CRO holdings and earn additional rewards without having to lock up their assets.
Sanitatis Staking is a platform that allows investors to earn crypto income through staking their digital assets. This method offers investors significant portfolio growth without requiring them to actively trade or monitor the market.
The platform prioritizes security for its users by employing robust security protocols to protect their digital assets. This ensures that investors can store their holdings safely and generate income without worrying about potential hacks or breaches.
Sanitatis Staking also utilizes low-risk trading tactics such as arbitrage, which involves taking advantage of price differences across different exchanges. This strategy helps minimize risk while still generating consistent returns for investors.
The platform offers a user-friendly interface that makes it easy for investors to access their rewards. They can easily monitor their earnings, track their staked assets, and withdraw their rewards at any time.
Marinade Finance is a liquid staking platform that was launched in 2021 and is built on top of the Solana blockchain. It provides a way for users to earn yield on their SOL tokens by staking them on the network. In return for staking, users receive marinated SOL or mSOL tokens. These tokens represent their stake in the network and increase in value as the underlying SOL collects staking rewards.
Users of the Marinade platform not only earn yield on their staked tokens, but also help to secure the Solana network and keep it decentralized by participating in the staking process. Additionally, users can use their mSOL tokens across the Solana ecosystem and stake them for even more yield, or swap them for SOL at any time.
The Marinade ecosystem is governed by a decentralized autonomous organization (DAO) that uses the MNDE token. This token can be locked to mint Chef NFTs, which are used for voting on proposals and decisions within the DAO. As of November 2022, there are over 450 validators on Marinade’s network, making it a highly secure and reliable platform for staking SOL tokens.
JPool is a Switzerland-based platform that allows users to stake their SOL tokens and participate in the consensus mechanism of the Solana network to earn rewards. When users stake their SOL tokens via JPool to become delegators, they receive the JSOL token. This token represents their ownership in the pool and grows as it accrues staking rewards.
In addition to being a representation of ownership in the pool, JSOL can also be used as a DeFi instrument for liquidity mining. Delegators on JPool can earn staking rewards of up to 6.5-8% annually. JPool distributes the SOL tokens staked by delegators among all validators in order to maximize rewards and maintain the decentralization of the network.
JPool uses the Stake Pool concept, which is designed to increase the distribution of stake among validators. This helps to strengthen the decentralization of the network and ensure that no single entity has too much control over the consensus mechanism. By using JPool to stake their SOL tokens, users can earn rewards while also contributing to the strength and stability of the Solana network.
Stakewise is an open-source Ethereum staking application that was first introduced in March 2021. This platform provides a simplified solution for DeFi users to stake their ETH tokens and earn staking rewards while also helping to secure the Ethereum network.
By using Stakewise, users can stake any amount of ETH and receive sETH2 tokens in return, which can be used with other dApps on the Ethereum blockchain. This allows users to continue engaging with the Ethereum ecosystem while earning rewards for their participation in securing the network.
Developers can also leverage the Stakewise API and smart contracts to directly integrate ETH staking into their own applications using the Stakewise platform. This feature makes it easy for developers to add staking functionality to their projects, further promoting the decentralization and security of the Ethereum network.
Since its launch, the Stakewise application has been successful in accumulating over 50,000 ETH in deposits. This is a testament to the platform’s user-friendly interface, simplified staking process, and overall effectiveness in incentivizing participation in the Ethereum network.
Tenderize is a liquid staking protocol founded by Nico Vergauwen in December 2021. The platform enables users to stake their cryptocurrencies to receive staking rewards without locking their deposit or actively managing their investment.
With Tenderize, users can earn compounding staking rewards, swap tenderTokens for the underlying asset, and earn liquidity farming rewards. When users stake their crypto assets on Tenderize, they receive tenderTokens, which are 1:1 ERC-20 derivatives of the underlying deposit. These tenderTokens can be freely traded on decentralized exchanges or used in DeFi apps.
As users continue to accrue staking rewards, they receive more tenderTokens in proportion to their deposit. Tenderize currently accepts deposits in MATIC, GRT, LPT, and AUDIO.
Since its inception, Tenderize has proven to be a successful platform, with a total value locked crossing the 1 million mark in September 2022. This achievement highlights the growing demand for simplified staking solutions that allow users to earn rewards without having to manage their investments actively. Tenderize provides a secure and user-friendly option for those looking to participate in staking and earn rewards on their crypto holdings.
Keep Network is a protocol that was launched in 2017 by Matt Luongo and Corbin Pon. The platform enables users to securely store private information on a public blockchain using data containers called “Keeps.” These Keeps allow smart contracts to access this information without revealing its contents, ensuring that sensitive data remains secure.
In addition to providing secure storage for private information, Keep Network also operates a liquid staking application. By connecting to the Keep Network dApp, users can stake native Bitcoin tokens and receive tBTC tokens on the Ethereum network in return. This allows users to earn staking rewards on their Bitcoin holdings while also gaining access to the Ethereum network.
The Keep Network’s liquid staking application provides a convenient and secure solution for users looking to earn rewards on their Bitcoin holdings without having to lock up their funds for a prolonged period. This innovative approach to staking highlights the platform’s commitment to providing users with a range of useful and valuable tools that leverage the power of blockchain technology.
Stake DAO is a non-custodial DeFi platform that was founded in 2019 by Julienne Bouteloup and Leopold Joy. The platform is designed to help users grow their crypto portfolios by providing access to a range of strategies and competitive products that can give them an edge in the marketplace.
Through Stake DAO, users can take advantage of a wide range of DeFi protocols and tools, including liquidity provision, yield farming, and staking. The platform is highly customizable, allowing users to tailor their investments to meet their specific needs and goals.
In addition to providing access to these powerful tools and strategies, Stake DAO also offers a range of analytics and tracking tools that can help developers and investors keep track of key metrics and make informed decisions about their investments.
Overall, Stake DAO is a valuable resource for anyone looking to grow their crypto portfolio and take advantage of the opportunities offered by the DeFi ecosystem. With its user-friendly interface and robust set of tools and features, Stake DAO is a powerful tool for investors and developers alike.
RockX is a provider of high-performance, secure node services for various blockchain networks. Their products are designed to offer stable and reliable node performance, cost-effective node services, and innovative tools that can help users maximize the value of their blockchain investments.
RockX’s node services are built using cutting-edge technology and are designed to be highly secure and reliable. They offer support for a wide range of blockchain networks, including Bitcoin, Ethereum, Polkadot, and more, allowing users to easily deploy and manage their nodes with ease.
In addition to their node services, RockX also offers a range of innovative tools and products that can help users enhance their blockchain experience. These include a range of analytics and monitoring tools, as well as advanced node management tools that can help users optimize their node performance and stay on top of the latest developments in the blockchain ecosystem.
Yield Yak is a platform that offers a range of automated yield farming strategies to help users earn more from their deposited assets. By using auto-compounding pools, Yield Yak automatically reinvests farming rewards to maximize returns. Some of the most popular auto-compounding pools include USDC and USDT stablecoin pools, native Avalanche tokens, and boosted farms on Trader Joe.
In addition to its auto-compounding pools, Yield Yak also offers a range of other products and tools to help users optimize their yields. These include a decentralized exchange (DEX) aggregator called Yak Swap, which allows users to easily swap between different cryptocurrencies and maximize their returns. Yield Yak also offers a liquid staking tool, which enables users to stake their assets and earn staking rewards without having to lock up their funds for a long period of time.
Finally, Yield Yak also provides users with access to Yak Pools, a collection of curated yield farming strategies that are designed to help users maximize their returns with minimal risk. With a focus on automation, security, and user-friendly design, Yield Yak is a valuable resource for anyone looking to earn more from their cryptocurrency investments.
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The process of liquid staking involves several steps:
Staking Deposit: Users deposit their cryptocurrencies into the liquid staking platform, which then stakes these assets on their behalf in the underlying PoS network.
Issuance of Wrapped Tokens: In return for their staked assets, users receive wrapped tokens, representing their staked holdings. These wrapped tokens are freely tradable on exchanges and can be used in DeFi applications.
Earning Rewards: Users continue to earn staking rewards as if their original assets were staked directly on the PoS network. These rewards are usually distributed in the form of additional wrapped tokens or other native tokens.
Unstaking and Redeeming: If users decide to unstake their assets, they can redeem their wrapped tokens for the original staked assets, plus any accumulated rewards.
Benefits of Liquid Staking
Increased Liquidity: Liquid staking offers the advantage of maintaining liquidity while earning staking rewards. Users can trade their wrapped tokens on exchanges or utilize them in DeFi protocols, providing more financial flexibility.
Enhanced Yield Generation: By participating in both staking and DeFi activities simultaneously, users can potentially maximize their yield generation and capitalize on multiple sources of passive income.
Risk Diversification: Liquid staking enables users to diversify their risk by engaging in various staking networks and DeFi platforms, rather than being locked into a single staking ecosystem.
Participation Accessibility: Liquid staking opens up staking opportunities to a broader audience, including those with smaller amounts of cryptocurrency, as it eliminates the need for large initial stake requirements.
Staking and earning rewards without compromising liquidity is now possible thanks to the proliferation of liquid staking platforms in the cryptocurrency industry. The aforementioned list of 16 liquid staking platforms provides users with a great deal of flexibility in meeting their individual requirements. More cutting-edge tools and infrastructure will undoubtedly appear as the sector continues to develop and mature. For the time being, users must do their own research and due diligence before committing to a platform to ensure they are making a safe and secure choice.
Robofi is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.