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Stayking : The Staking amplifier protocol
Enhance your assets with an all-in-one staking protocol
With our leveraged staking service on the Cosmos Hub based on delegated Proof of Stake (dPoS), we aim to provide a new way to multiply user token assets across multiple chains than traditional staking DeFi products.
Stayking is an appchain that provides total staking solution for staked tokens. When using Stayking, users can manage liquidity, leverage or just stake to amplify staking and Defi yield across Cosmos IBC ecosystem.
StayKing team aims to build Web 3.0 and provide features below in order to make easy and friendly service for users.
- First, we aim to provide "Auto-Compounding" feature based on highly effective assets in the Cosmos 50+ Zones. * Currently providing Cosmos(ATOM) and EVMOS(EVMOS) and more to come step by step
- Second, we build our own lending pool and provide leverage staking through token swap
- Third, we provide "Liquid Unstaking" feature to secure quick liquidity for users after staking.
By providing protocol that can manage liquidity, leverage, or staking service easily across Cosmos IBC ecosystem, users can amplify their assets and make better portfolio.
Cosmos Hub is a concept of an interoperable Internet blockchain. In this ecosystem, there are app chains(Zones) that exist for different purposes.
Zones communicate with each other by exchanging tokens and other values through a technology called IBC.
The Stayking Protocol aims to provide a leveraged staking service by introducing tokens existing in various zones through this IBC technology, allowing users to amplify their tokens.
Core flow of Stayking Protocol
- Inter-blockchain communication (IBC)
IBC refers to an inter-blockchain communication protocol, which handles authentication and data transfer between two blockchains. IBC is a set of functions specified in the Interchain Standard (ICS), and its specification allows it to be used with a variety of blockchains and state machines without restrictions on network topology and consensus algorithms. Unlike bridges, IBCs provide a permissionless way to relay data packets, making them chain-secure. Among them, the IBC implemented in Cosmos uses a pegzone that acts as a bridge between the Cosmos network and external app chains to connect them all, and connects all chains through a hub to form a blockchain internet.
The IBC is divided into a transport layer (TAO) and an application layer (APP), with IBC/TAO defining the infrastructure layer, including transport, authentication, and ordering of packets, and IBC/APP defining application handlers for data packets delivered by the transport layer.
IBCs rely on relayers to communicate, an off-chain method that is responsible for relaying data between two chains by checking the status of each chain with the physical connectivity layer of the IBC, constructing the appropriate datagrams, and executing them on the other chain as allowed by the protocol. The relayer allows messages to be sent between chains through one or more channels, and each chain can use a light client to quickly check for incoming messages.
- Interchain Account (ICA)
ICA allows accounts on one blockchain to be active on other blockchains, increasing productivity across Cosmos through more effective cross-chain communication. ICA enables blockchains to run operations and securely control accounts on different networks while maintaining a single interface for applications running in the ecosystem.
ICA is a concept that allows accounts created on the Host blockchain to be controlled by an authorization module on the Controller (or Zone) blockchain. Through IBC, arbitrary messages can be sent from the controller to the host chain, and operations unique to the host chain (e.g., staking and unstaking) can be executed on behalf of the interchain account.
- Interchain query (ICQ)
ICQ is a feature that allows blockchains to read data from other networks. Developers can securely retrieve data from storage by requesting information about network or application state. This allows them to query the exact data they need without the need for consensus and is a key feature of the Cosmos Defi ecosystem.
In the nascent network, cryptographic proofs are attached to every value to prove that the result (or query) is correct. Whereas previously queries only worked within the same blockchain, ICQ solves this problem by allowing blockchains to pull data from different areas. For ICQ to work, two blockchains must be interconnected through an IBC, which requires a relay to send messages between zones, a module to generate and validate queries, and a system to decrypt and use the rules.
A staker is a user who holds tokens, which are the accepted economic value within a specific zone of the Cosmos ecosystem, and whose purpose is to amplify the token wealth they hold.
Someone who can earn interest for the duration of their deposit based on the interest model set by the lending pool.
Even if it's lower than the staking yield, it's still an advantage because you're always free to deposit and withdraw.