How does liquid staking on Everscale works with stEVER?

How does liquid staking on Everscale works with stEVER?

Today in the crypto world, staking is widespread. Owners of crypto-assets from Proof-of-Stake networks receive passive income for validation or for delegating their tokens to validators. At the same time, in order to receive this type of income, cryptocurrencies must be locked up in a special smart contract. Despite some benefits, this mechanism has its limitations and certain disadvantages, which liquid staking solves.

Unlike classic staking, liquid staking allows crypto assets to be used even after they are locked. The stEVER token was created in the Everscale ecosystem for this very purpose.

What are stEVER tokens, and what are they for?

In a nutshell, stEVER is a TIP3.1 token with advanced functionality on the EVER DAO platform. Thanks to the launch of stEVER tokens, users can simultaneously stake their tokens and participate in various DeFi activities without losing their voting rights on the EVER DAO platform.

This is very handy, as currently with EVER DAO, when a user stakes their assets to vote, this is done with EVER and wEVER tokens, and the ability to use them in DeFi services is lost. Therefore, stEVER will allow more validators and users who have staked their EVER to participate in governance, which should greatly increase the level of decentralization and voting participation.

Also, stEVER will open up more opportunities for users to participate in farming and trading while keeping full autonomy over their tokens. In addition to the increased DeFi opportunities, stEVER enables users to maximize their profits from staking without having to periodically deposit and withdraw their tokens at certain times. All of this undoubtedly expands the user experience in the Everscale ecosystem and makes it even more attractive.

Other advantages of liquid staking with stEVER

Unlike ordinary staking, thanks to liquid stEVER token staking and the balancing mechanism built into the platform, users will always receive the APR they signed up for. This completely changes the underlying dynamics associated with staking, because typically with staking through DePools, the APR always changes depending on the amount of liquidity, locking terms, and the number of staking users. Launching stEVER tokens does a great deal to solve these problems.

The user simply needs to stake their EVER tokens in return for stEVER. The desktop version of EVER Wallet v2 already has a staking interface.

Download the Ever Wallet v2 using the following link 👈 and try liquid staking functionality. In order to start staking and get stEVER tokens — just simply proceed to the “stake” section.

In addition, the stEVER mechanics can completely replace DePools due to a simpler process with the maximum benefits of staking. This is because each stEVER token contract is a ratio between EVER and stEVER, which increases relative to EVER. Over time, more and more EVER tokens will be added to the contract, while the number of stEVER tokens will remain the same. As with DePools, there will also be a small fee for using stEVER, which will be deducted from the staking rewards.

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