StakeLayer, a new layer two blockchain on the Bitcoin Ecosystem, has just launched its staking infrastructure for developers on the Bitcoin Blockchain.
The infrastructure is set to help developers create a liquid staking token, similar to what EigenLayer does on Ethereum, to provide a platform for tokens to be staked and restaked.
With the launch of this infrastructure, StakeLayer is also launching its token called $STAKE which will be done through a pre-sale.
What is StakeLayer?
StakeLayer is a layer two blockchain, focused on developing a restaking ecosystem on the Bitcoin Blockchain.
The layer two blockchain can also be its decentralized application as the blockchain itself is focused on being its protocol.
It functions similarly to EigenLayer and Restake Finance on the Ethereum Blockchain, where StakeLayer combines the two protocols to create one protocol on the Bitcoin Blockchain.
The liquid restaking trend has been growing a lot on most blockchains but has yet to be developed on the Bitcoin Blockchains.
This is why StakeLayer will be one of the first to introduce liquid restaking mechanisms, where users can lock a token to get a liquid staking token, and then lock that liquid staking token to receive a liquid restaking token.
The mechanism is similar to what LidoDAO, EigenLayer, and Restake Finance provide for Ethereum users, where users can lock ETH on LidoDAO to receive stETH which can then be locked to receive rstETH on Restake Finance.
Liquid staking and restaking mechanism have proven that they can significantly increase a blockchain’s liquidity and overall total value locked (TVL).
It is expected that with the launch of StakeLayer, more DeFi enthusiasts will go into the Bitcoin Ecosystem, further asserting BItcoin’s Dominance in the next predicted bull market.
Token Pre-Sale Coming Soon
To capitalize on the launch of StakeLayer, investors and traders can participate in the token pre-sale of the project.
Token Pre-Sale Page / Source: StakeLayer Official Site
StakeLayer will launch its token called $STAKE which is launched less than a week after this article was written.
The countdown can be accessed on the pre-sale website, where users can also purchase the $STAKE before the launch.
Currently, the pre-market price for 1 $TAKE is $0.0083, where it can be purchased with multiple options of cryptocurrencies.
Users can buy this token through a decentralized wallet where there are options to use multiple blockchains, including Ethereum, BNB Chain, Polygon, Arbitrum, Base, Avalanche, and Optimism.
The tokens that can be used to buy $STAKE are USDT and USDC, as well as other native coins of all the blockchains available.
20% of the overall supply will be distributed during the pre-sale, which means that there will be around 1 Billion $STAKE distributed, considering that the total supply of $STAKE stands at 5 Billion.
Overall, it will be interesting to see the development of this project as well as the price movement after the launch.
The token might surge after the launch considering how popular liquid staking and restaking is currently. However, it all depends on the market condition as well as the marketing from the team itself, so there are no profits guaranteed.
Read Also:
Bitrue Official Website:
Website: https://www.bitrue.com/
Sign Up: https://www.bitrue.com/user/register
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.