Contact Us
Hire Team Stars
Hire Team Reality
Hire Dream Team
Audit Application Form
stDOT+xcDOT Curve
Pool Launch
Author: MixBytes team
Happy to announce MixBytes launches first Lido stDOT stable pool on Curve.
MixBytes is excited to partner with Curve to create a stDOT+xcDOT pool on Moonbeam to make Polkadot staking more liquid and accessible.
AMM pool is deployed on Curve Finance, which is one of the biggest DeFi protocols by TVL and is audited both by MixBytes, Trail of Bits and Quantstamp.
Lido Finance is one of the biggest decentralized liquid staking protocol, which has already accrued $8b in staked assets on Ethereum and other networks.
Lido on Polkadot lets you mint a stDOT for each DOT you stake. stDOT token can then be transferred, sold and used as a LP or collateral position in the Polkadot DeFi ecosystem.
Moonbeam is the top destination parachain for multi-chain DApps on Polkadot, offering complete Ethereum compatibility to its users and developers. The DOT token can be deposited on Moonbeam as xcDOT, an XC-20 representation of the token. This standard complies with the ERC-20 standard while also retaining cross-chain capabilities. These tokens can then be staked with Lido.
MixBytes is a web3 security research team who built Lido on Polkadot and on Kusama, after being granted in LEGO.
MixBytes is excited to partner with Curve to create a stDOT+xcDOT pool on Moonbeam to make Polkadot staking more liquid and accessible.
AMM pool is deployed on Curve Finance, which is one of the biggest DeFi protocols by TVL and is audited both by MixBytes, Trail of Bits and Quantstamp.
Lido Finance is one of the biggest decentralized liquid staking protocol, which has already accrued $8b in staked assets on Ethereum and other networks.
Lido on Polkadot lets you mint a stDOT for each DOT you stake. stDOT token can then be transferred, sold and used as a LP or collateral position in the Polkadot DeFi ecosystem.
Moonbeam is the top destination parachain for multi-chain DApps on Polkadot, offering complete Ethereum compatibility to its users and developers. The DOT token can be deposited on Moonbeam as xcDOT, an XC-20 representation of the token. This standard complies with the ERC-20 standard while also retaining cross-chain capabilities. These tokens can then be staked with Lido.
MixBytes is a web3 security research team who built Lido on Polkadot and on Kusama, after being granted in LEGO.
Using the pool
How to earn LDO and fees by providing stDOT/DOT liquidity:
You have MetaMask support along the way and can hold xcDOT in your existing Ethereum-style addresses.
- Deposit your DOT from Polkadot Relay Chain to Moonbeam parachain https://apps.moonbeam.network/moonbeam
- Stake your xcDOT on Lido Finance to get stDOT, receiving staking rewards;
- Provide liquidity for stDOT and xcDOT to Curve pool by clicking "Deposit & stake in gauge" here: https://moonbeam.curve.fi/factory/1/deposit receiving LP tokens and accrue Liquidity Provider rewards;
You have MetaMask support along the way and can hold xcDOT in your existing Ethereum-style addresses.
Liquidity is crucial
Together with the Moonbeam network and Lido teams we made a decentralized and non-custodial way to utilize staked Polkadot tokens' value.
Having a derivative for a natively "frozen" staked asset provides increased liquidity for base layer tokens. stDOT token can be transferred, sold and used as a LP or collateral position in the Polkadot DeFi ecosystem.
Normally, you can only withdraw your staked DOT after an around 30-days unbonding period. Curve pool ensures liquid staking derivatives like stDOT are actually liquid and also have low slippage.
Having a derivative for a natively "frozen" staked asset provides increased liquidity for base layer tokens. stDOT token can be transferred, sold and used as a LP or collateral position in the Polkadot DeFi ecosystem.
Normally, you can only withdraw your staked DOT after an around 30-days unbonding period. Curve pool ensures liquid staking derivatives like stDOT are actually liquid and also have low slippage.
Additional information
- Lido on Polkadot
- stDOT release info
- More details on stDOT and stKSM algorithms and mechanics: https://mixbytes.io/blog/lido-liquid-staking-for-kusama-upgrades-to-uncapped-second-stage
- DAO Lido on Kusama and Polkadot Liquid Staking Proposal: https://research.lido.fi/t/updated-lido-kusama-polkadot-ls-by-mixbytes/877
- Who is MixBytes?
- DisclaimerThe information contained in this Website is for educational and informational purposes only and shall not be understood or construed as financial or investment advice.
Other posts