StakeHound Ensures PoS Users Have Instant Liquidity Alongside Staking Options
StakeHound, a platform self-described as one that “creates stake-backed tokens so that cryptocurrency users can have the best of both worlds: liquidity and yield,” has unlocked $20 billion in liquidity for the Ethereum platform as well as the Radix layer-one protocol for DeFi, according to a press release. “StakeHound issues stake-backed tokens for both the Ethereum and Radix DeFi ecosystems,” the release continues.
“Users send their chosen Proof of Stake tokens, such as RADIX, XZC, XTZ, ATOM, ALGO, ADA or DOT, to one of StakeHound’s institutional-grade custodian partners. StakeHound then instantly generates and sends the user a one-to-one representation of their original token on their chosen DeFi ledger (Ethereum now, Radix once launched next year).”.
