StakeHound in Q1 2021: More Partnerships, Product Launches

It’s been 3 months and counting into 2021 – how quickly time passes! Launching slightly less than a year ago with a lean team, we set out on a mission to create more flexibility and accessibility in benefiting from staking rewards. When we began, the Total Value Locked (TVL) in staking (Ethereum) was at US$20 billion. In less than a year, we’re now looking at a whopping US$51 billion in TVL just on Ethereum alone. If we look at the entire crypto ecosystem, it is at about US$152 billion TVL in staking protocols, including Ethereum.

The team has gone on to onboard 2 more new members and is in the midst of growing, to ensure that we continue to fulfill the goals we set out to achieve. Very importantly, we want to be part of the community to provide more educational content and resources for those who are new to liquid staking.

New stTokens Added

In three months, we launched three new stakedTokens: stZEN, stDASH, and stXYM. Our partnerships with these protocols mean a lot to us, as we continue to serve their communities and help each of them through the journey of entering Ethereum’s DeFi ecosystem.

 

Horizen: stZEN

Horizen, a technology platform that enables businesses and developers to create their own public or private blockchains, has launched stZEN with StakeHound that allows ZEN holders and anyone to stake on ZEN via the ZenNodes without meeting its requirements. To earn ZEN node staking rewards for Secure Nodes and Super Nodes would require 42 ZEN and above on top of the hardware requirements.

With stZEN, anyone can purchase it off SushiSwap with no minimum while still gaining the upsides of staking ZEN – staking and Onsen rewards (SUSHI tokens).

Highlights:

 

DASH: stDASH

DASH, a leading decentralized payment solution accepted at merchants globally, accessible via 1,600+ ATMs and 100+ exchanges worldwide, has partnered with StakeHound to launch stDASH. Although announced in October last year, stDASH is finally live on SushiSwap. Earning masternode staking rewards through DASH directly requires a minimum of 1,000 DASH (approx US$264,000+). By working with StakeHound, anyone can benefit from staking DASH without a lock-up or a high minimum stake, with added flexibility to explore the DeFi ecosystem on Ethereum.

Similar to the rest of stTokens, stDASH allows users to hold and earn staking rewards easily as no additional action besides acquisition is required. Even sitting in SushiSwap liquidity pools will entitle holders to earn the rewards every 9 days, as according to DASH’s masternode reward distribution frequency. The difference here is that the stDASH rewards will be automatically updated into each holder’s wallets with no additional transactions.

Highlights:

 

NEM / Symbol: stXYM

After 4 years, NEM Group has launched the Symbol network with the Symbol token (XYM). The Symbol network will continue to run in tandem with NEM N1S1, with a difference in interoperability especially so for enterprises. We already have stXEM which is the ERC-20 representation of staking XEM, and to celebrate our continuing partnership, we have also launched stXYM. Users can now view their stXYM balances on their wallets. The staking feature on stXYM will be updated soon.

 

More Rewards with SUSHI Listings and Yield Farming

Forging a closer partnership with Sushi, we’ve listed most of our stTokens on Sushi along with bonus Onsen farms that reward with SUSHI (governance) tokens. Liquidity providers can earn additional rewards in SUSHI, besides staking rewards and liquidity provision fees. To help the staking community with navigating Sushi, we’ve also created step-by-step guides for different stTokens.

 

Current Onsen pools:

  • WETH-stETH at 32.93% APY
  • stFIRO-stETH at 14.02% APY
  • stZEN-stETH at 7.14% APY

View all Onsen pools here and search for “stETH”. Join stETH Discord Community.

Resources:

 

What’s Next

Keeping up with the momentum, we’re working on more partnerships – that also means more stakedTokens will be launched in the coming weeks (and months). Based on what we’ve already announced, that includes Divi Project whose community has been really excited for stDIVI to be live on the Ethereum mainnet. Divi has committed to making crypto accessible and easy for the masses and this is aligned with us – specifically our direction in enabling flexibility while making the best of staking, fetching more yield for every user.

Albert Castellana, co-founder and CEO of StakeHound, featured on Live at Five by Divi.

Our integration on Radix is yet another important mention that is pivotal for us in creating more value for the liquid staking community. Radix has always prioritized interoperability and the ability to scale in DeFi, which is what we are doing with the amalgamation of two different but equally crucial ecosystems of crypto.

Aside from these valued partnerships, we have also lined up with new product features, more stakedToken launches that we will be announcing in the coming weeks. Don’t miss out on our upcoming launches and incentives – follow us on Twitter and join us on Telegram or Discord!