The post Bracket Launches Staking on Bracket.Fi Platform appeared on BitcoinEthereumNews.com.

Bracket, under the leadership of CEO Mike Wasyl, has just launched staking at  Bracket.Fi Phase I of the platform will feature Bracket’s liquidity program, offering users the opportunity to stake Liquid Staking Tokens (LSTs) and Liquid Restaking Tokens (LRTs) to earn rewards and power the next generation of DeFi.  Founding and Evolution Founded by a team with deep experience in both cryptocurrency and traditional finance, Bracket was established by Mike Wasyl and his Co-Founders Jason Glazier and Pelli Wang. Their backgrounds include work at Consensys and major financial firms like D.E. Shaw & Co. and Bloomberg. The team initially focused on developing derivatives products aimed at providing sophisticated trading strategies for managing volatility. However, market events in 2022 severely affected liquidity, which prompted Bracket to pivot towards a growing area in DeFi: Liquid Staking. “When FTX collapsed, liquidity was drained from options and all derivatives-related markets. Even now, it’s surprising that the funds haven’t returned in significant amounts. This event really hurt the industry, particularly affecting liquidity on the derivatives side. Perpetual contracts became the dominant tool, with other categories shrinking significantly. This situation made us reconsider our approach and think about how we could expand our target market,” Wasyl recalls. Wasyl explained they recognized a growing demand for passive investment strategies, particularly involving liquid staking tokens. This has become a major trend in DeFi as more investors seek stable and predictable returns. The change has received positive feedback as interest in LSTs and LRTs grows, with major players like Lido leading the charge. “This led to the emergence of products like EigenLayer, which sought to capitalize on this interest by providing additional value to LST holders. Now, we also see Liquid Restaking Tokens (LRTs), which essentially take the interest earned from LSTs and offer additional rewards, such as points,…

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Filed under: News - @ August 1, 2024 7:00 pm