DARMA Capital launched “LiquidStake” to provide asset liquidity for investors participating in ETH2.0 token pledge
Encrypted asset investment company DARMA Capital announced the launch of the Ethereum pledge product “LiquidStake” to help investors maintain asset liquidity while participating in the pledge of Ethereum 2.0 tokens.
Specifically, DARMA Capital supports investors to pledge in “LiquidStake” and obtain USDC loans to maintain asset liquidity. According to reports, the company has allocated 50 million US dollars ETH (based on the current market price, equivalent to 100,000 tokens) for the Ethereum 2.0 pledge to support institutional and individual investors to participate.
For institutions, it will sign an exchange agreement with DARMA Capital, and individuals can pledge any amount of ETH through “LiquidStake”, and then LiquidStake will send the ETH to the user’s chosen verification program service: Bison Trails, ConsenSys Codefi or Figment Networks. (Note: DARMA Capital did not disclose the specific details when investors use “LiquidStake”, such as asset withdrawal, pledge reward distribution)
Coincidentally, the P2P Validator team recently proposed a solution called “Lido” to solve the problem of Ethereum 2.0 pledge liquidity. The plan pointed out that when users use Lido to mortgage ETH on the Ethereum beacon chain, the user will receive bETH, which represents the user’s ETH on the Ethereum beacon chain in a 1:1 manner, acting as Ethereum 2.0 The bridge between pledge rewards and Ethereum 1.0.
When the user’s pledged ETH generates pledge rewards in Ethereum 2.0, the user’s ETH balance on the beacon chain will also increase. The bETH token balance will be updated accordingly once a day to ensure that users receive the same pledge reward value on Ethereum 1.0 as on Ethereum 2.0.
“At the application level, users can use bETH for transactions and consumption, and because it is DeFi compatible, it can be used as collateral for on-chain lending. After enabling transactions on ETH 2.0, users can also convert bETH to ETH. “
According to previous reports, Phase 0 of Ethereum 2.0 is expected to be launched on December 1. Before the launch, 6384 validators are required to pledge 524,288 ETH (currently valued at approximately US$242 million) to the deposit contract. The data shows that the current amount of ETH deposited in the contract is less than 60,000, which is equivalent to 10% of the total amount of tokens required to be invested.
