Singapore, Jan 21, 2021 /AlexaBlockchain/ – Moonstake, currently the 16th largest staking asset in the world, today announced its plan to enter into the DeFi sector. As of now, Moonstake has reached over 200 million USD in total staking assets and achieved rapid growth in both product development and marketing in just a short period of time. The leading staking pool is also in partnership with more than 10 public blockchains as well as reputable DeFi projects on the market. Using its robust technological infrastructure, Moonstake plans to develop more innovative products and provide services related to DeFi’s breakthrough in the blockchain industry in 2020. Moonstake is also accepting applications from DeFi products looking to connect to its powerful staking network.
Moonstake debuted its staking business last year with the aim to create the largest staking network in Asia. Since then, it has developed the most user-friendly staking wallets for both Web Wallet and Mobile Application Wallet (iOS / Android) that are compatible with over 2000 top cryptocurrencies. During this time, Moonstake has also collaborated with public blockchains who are active in the DeFi field, such as Emurgo (one of the Cardano’s constituent organizations), NEO, Ontology, and Wanchain.
In August of last year, Moonstake partnered with RAMP DEFI that develops a DeFi solution to unlock liquid assets from staked digital assets to develop and popularize DeFi and connect DeFi products to the Moonstake platform. In December, Moonstake co-sponsored the Defi section in “Business Blockchain Expo” hosted by Binarystar, Japan’s largest blockchain business hub. Moonstake introduced world leading DeFi projects such as MakerDAO, NEO Flamingo, Zilliqa and other players at the forefront of DeFi to strengthen collaboration and efforts to enter DeFi.
Currently, the total amount of crypto assets locked in DeFi surpasses USD 25 Billion, up 290% from the same period last year. The fast-growing DeFi ecosystem is largely built on the Ethereum blockchain and further growth in the future will require collaboration with other blockchains and access to Ethereum from other blockchains.
Major PoS (Proof-of-Stake) protocols often require a locked period during staking. The illiquidity of crypto assets during this locked period has been a challenge. As a staking service provider, Moonstake enters DeFi this time with plans to launch innovative products that facilitate and expand access to DeFi by working to resolve this illiquidity.
Moonstake announced that it has already completed PoC (Proof-of-Concept) and the upcoming completion of the staking liquidity protocol will enable access to DeFi products such as decentralized exchanges (DEX) and lending platforms. It will also allow for scalability of the service by linking it to the staking pool operated by Moonstake.
Moonstake is currently making a Litepaper on DeFi products and business models. It will be released within the first quarter of 2021. In addition to creating its own products, Moonstake will also be widely accepting applications from DeFi products that wish to connect to the Moonstake platform. With a total staking asset over USD 200 Million and wallet users around the world, Moonstake’s connection with DeFi will support the development and dissemination of high-quality DeFi products with its powerful network.