Liquid stake with Figment
Partnering with the Liquid Collective and using the new public Figment app, whitelisted KYC addresses using WalletConnect and MetaMask will have access to liquid staking services for LsETH and more tokens in the future. Token holders stake their token and receive a receipt token as evidence of their ownership of their staked asset.
Liquid StakingWhat is liquid staking?
Liquid staking is a rapidly growing alternative to locking up a users’ tokens and contributing to the security of Proof-of-Stake blockchains. Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token and receive a receipt token as evidence of their ownership of their staked token.
What is Liquid Collective?
Liquid Collective is the secure liquid staking standard: a protocol with multi-chain capabilities designed to meet the needs of institutions, built and run by a collective of leading web3 teams including Figment, Coinbase, Kraken and Kiln. Liquid Collective will be governed in a decentralized manner by a broad and dispersed community of industry participants — supported by Alluvial, the operating company supporting the development of the protocol.
Liquid staked ETH (LsETH)
The first token to be offered will be Liquid Staked ETH (LsETH). When a user deposits ETH to the Liquid Collective protocol, they receive LsETH that evidences their ownership of the staked ETH as well as any network rewards that accrue to the staked ETH minus protocol service fees and network slashing penalties.
