The post Velar and StackingDAO Launch Industry-First STX/stSTX Stableswap Pool on Bitcoin appeared on BitcoinEthereumNews.com.

Velar, the leading Bitcoin-based liquidity protocol that brings trillions of dollars in dormant capital to DeFi markets, has partnered with StackingDAO to provide the first-ever dedicated stableswap trading pair for STX/stSTX tokens on Stacks. By using a unique stableswap curve to facilitate quick, low-slippage swaps for STX tokens and their staked equivalent, stSTX, with negligible fees, the STX/stSTX stableswap trading pair on Velar DEX will address a crucial liquidity demand for the Stacks ecosystem with its alluring rewards. Because there would be less friction for investors to join and leave their STX staking holdings, stacking should become more attractive. Holders of STX and stSTX will also be able to benefit from attractive yield prospects. A dual rewards structure that offers a 50% increase in StackingDAO points in addition to 5,000 VELAR in daily rewards is used to attract liquidity providers. LPs may be eligible for rewards, airdrops, and other perks in the future by accumulating StackingDAO points. The STX/stSTX stableswap trading pair will provide Stackers a way to earn more StackingDAO points while also offering supplementary functionality to seasoned DeFi users in the Stacks ecosystem. Additionally, it will provide enough liquidity for institutional investors that need the capacity to execute effective, large-scale STX/stSTX swaps thanks to its substantial incentives. Additionally, two of Stacks’ top projects will work together more synergistically to benefit the Stacks ecosystem as a whole. Velar has become the largest DEX on Stacks, and StackingDAO has a unique position as its leading Liquid Stacking protocol, enabling liquidity for Stacked STX and making STX staking available to everybody. Furthermore, competing market pools put liquidity providers at greater risk of temporary losses, but Velar’s upgradeable variable midpoint solution will lessen this risk for StackingDAO customers, resulting in a more lucrative farming program. Philip de Smedt, Co-founder of StackingDAO, commented: “The introduction of the stSTX/STX stableswap on…

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Filed under: News - @ November 26, 2024 8:26 pm