Cross-chain liquidity provider platform Bifrostannounced today, vomiting (KSM) to provide a liquidity staking service in its network Coinbase Cloud announced that it is collaborating with
Blockchain An innovative project in the field, Bifrost is a middleware platform that allows developers to use multiple blockchain networks. Developers with the Bifrost platform ETH, TRON and KLAY can connect to blockchains.
Bifrost will be able to provide a more stable service for Kusama validators as a result of its agreement with Coinbase Cloud. Kusama users will be able to stake KSM to receive vKSM liquidity tokens.
Thibault Perréard, one of the Bifrost executives, emphasized that collaboration is crucial to their operations:
“Our collaboration with Coinbase Cloud will bring extra reliability and quality to the liquid staking service on our platform.”
The platform aims to expand its cross-chain liquidity service, which it started with Kusama, with the Polkadot (DOT) parachain in the future.
Liquid Staking Is Getting More Popular
As the popularity of cryptocurrencies increases around the world, the demand for liquid staking services continues to increase. Lido Financeholds the leadership in liquid staking. The second industry leader to follow is Coinbase.
Coinbase has most recently launched a liquid staking token, cbETH.
On September 1, 94,000 new ETHs were staked in a single day, the largest single-day staked since May this year. At present, the number of staked Ethereum consensus layer contract addresses has increased to 13,522 million, accounts for 11.3%. https://t.co/cZZpQpOkK9
— Wu Blockchain (@WuBlockchain) September 5, 2022
While the Ethereum Merge update is few days away, crypto phenomenon Wu Blockchain has announced an interesting data. Only on September 1, 2022, the amount of ETH staked was 94 thousand.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!