Divi and StakeHound Partner to Enable Liquid Staking for Divi Holders

We’re excited to announce our partnership with Divi!

Established in 2017, the Divi team has been focused on solving the issues of usability and accessibility to cryptocurrencies that prevent mainstream adoption. Hence their philosophy to create software solutions that make cryptocurrency easier to use and access for users of all levels of technical expertise. Starting with the feature that attracts most people to the space – earning rewards, the team developed the first and only genuinely one-click masternode software that enables users of any skill level to begin earning rewards in an instance. With the ability to be launched on any device from a home computer to mobile phone, registered users can earn with Divi.

Divi’s mission is to improve people’s lives by making crypto easy and accelerating its mainstream adoption. The team constantly innovates what the standard crypto doorway looks and feels like. The removal of barriers to entry equips people with just enough knowledge and understanding to engage in the Crypto economy and achieve financial freedom and inclusion. Through this partnership, we will be assisting Divi in creating a bridge into DeFi for their community, and for others to join the Divi community as easily without moving out of Ethereum’s ecosystem.

DeFi and Staking

For those unfamiliar, Decentralized Finance (DeFi) is a movement that focuses on creating financial primitives for crypto users that do not require financial intermediaries. DeFi allows users to do things such as lending or borrowing crypto assets, providing liquidity on automated market makers (a type of Decentralized Exchange), or creating different types of synthetic assets. There are currently over $40Bn locked in the different DeFi protocols. One of DeFi’s cornerstones is composability: allowing applications to build on top of each other, what some refer to as ‘money legos’. The key interfaces between these applications are tokens, specifically ERC20 tokens, which means that only tokenized assets can be used in these applications. So far, Staking and DeFi have been mutually exclusive, like in the case of Divi – any value locked up in staking cannot be used in DeFi, and vice versa. Our partnership with Divi would be to connect these two ecosystems, combine their liquidity, and provide benefits to both and optionality to Divi users.

Liquid Staking for Divi

Currently, Divi holders can earn node staking rewards through their platform in a tiered order, scaling from Copper at 100,000 Divi (~US$1,192) with an 18.74% estimated returns. Our partnership will provide more access to individuals, which also stays true to Divi’s mission in this space, by allowing no lock-up and staking from just 1 stDivi. For this to happen, StakeHound will build a DeFi bridge with Divi to allow liquid staking for everyone.  Liquid Staking addresses the problem of staking illiquidity by issuing tokenized representations of a user’s share in a staking pool, which can be freely transferred, traded, and used in DeFi applications, lowering the barrier of entry for staking and unleashing the locked-up liquidity.

The StakeHound partnership will ensure that the Divi Project is visible across as many verticals as possible and is a milestone in its ongoing “Divi Everywhere” strategy. Users can already start trying how stDivi works with the stDivi testnet guide available.

Nick Saponaro, co-founder and CIO at Divi commented: “The StakeHound bridge is a natural and important step in the growth of our Divi ecosystem, made with a best-in-class partner. It will introduce our community to a wealth of new functionality and opportunities, as DeFi helps unlock the authentic promise of crypto – removing centralized middlemen and service providers to enable individual custodianship, financial sovereignty, and freedom.”

StakeHound has already worked with major protocols such as NEM Group, DASH, Firo (formerly Zcoin), and more to come in the next few months. The community of liquid staking is still relatively small but growing. We value Divi’s approach towards education which is important to us as we are an amalgamation of both Staking and DeFi spaces that requires more knowledge sharing.

Albert Castellana, co-founder, and CEO of StakeHound said: “We’re extremely excited to kickstart this project with Divi and energized by the interest the Divi community has already shown in how the StakeHound bridge works. We want to make the liquid staking experience as easy for the community as Divi has made it for its members to access the world of crypto.”

Up Next

We will be joining Divi’s Live at 5 stream on 26th March, Friday, 5pm PST. Albert Castellana, Co-founder and CEO of StakeHound, will be sharing what this partnership would mean for both StakeHound and Divi communities. Save the date and tune in here!

If you don’t want to miss a single update on stDivi, join our stDivi conversation on Discord.

About Stakehound

A liquid staking enabler – StakeHound brings the benefits of both DeFi and Staking together. With four major protocols already live: stETHstXEMstFIROstDASH. StakeHound is focused on building bridges between staking protocols and Ethereum’s DeFi.

StakeHound is a Swiss company that follows strict compliance procedures and has partnered with military-grade security custody solutions such as Fireblocks and Copper to secure the assets.

In the upcoming months, StakeHound will be issuing other staked tokens such as stZEN, stXRD, and stDOT among others. To find out more, visit https://stakehound.com or follow StakeHound on Twitter.

About Divi

Divi is on a mission to improve people’s lives by making crypto easy and accelerating its mainstream adoption.

By removing barriers to entry, innovating new frictionless technologies, and delivering use cases for the developed and developing world, Divi is helping people across the globe to engage in the Crypto economy and achieve financial freedom and inclusion.

Everything Divi does is in service of its vision; the delivery of a new paradigm for financial services. One that is truly decentralized, accessible to all, and works for everyone.

For more information visit: https://diviproject.org/