SINGAPORE, Nov. 25, 2022 (GLOBE NEWSWIRE) — Krystal DeFi, a multi-chain wallet that simplifies & serves all decentralised finance (DeFi) needs, has introduced liquid staking on its platform following its successful integration with Ankr and Lido.
Ankr and Lido are liquid staking service providers that enable users to harness additional DeFi opportunities after staking their tokens with a validator. New tokens will be issued to the user, which allow them to earn staking rewards while simultaneously participating in other DeFi earning strategies like lending, yield farming, or depositing tokens into liquidity pools.
To get started, users can connect any non-custodial wallet to Krystal’s platform. Krystal displays an aggregated overview of all passive income opportunities for their wallet holdings, and other tokens supported by the integrated protocols. Users can make their decision based on token type, APY and type of protocol.
In addition to its previous integrations with non-custodial liquidity markets Aave, Compound and Venus, Krystal users have now an aggregated view of passive income opportunities for over 100 cryptocurrencies across 7 blockchain networks (Ethereum, BNB Smart Chain, Polygon, Avalanche, Fantom, Arbitrum and Optimism).
Regarding this new integration, Sunny Jain (CEO, Krystal) mentions, “the recent market turmoil has led to an exodus of funds from centralised to non-custodial wallets. Krystal’s mission is to create an easy-to-use platform for any user to access all of DeFi in a secure and non-custodial manner. We are making headway with our new staking feature as it further empowers our users and helps their idle assets work even harder for them amidst this period of high uncertainty. Fund security is every user’s top concern, so rather than integrating with a suite of protocols, we chose to partner with Ankr and Lido as they have proven themselves to be among some of the most trusted platforms in the crypto space.”
Filipe Gonçalves (Head of DeFi, Ankr) also adds, “giving stakers the opportunity to maximise the potential of their assets with liquid staking has gone a long way in solving the capital inefficiencies of blockchain ecosystems. On a platform like Krystal where users can conveniently access multiple DeFi services like token swaps and transfers, their addition of liquid staking options empowers users with more possibilities to create passive income while contributing to the overall growth and value of decentralised finance.”
As the pioneer of liquid staking, Ankr creates next-generation solutions for supporting validation on 9+ proof-of-stake chains with an industry-leading node delegation system and security. With a Total Value Locked of over $500M, Ankr is the 3rd largest Ethereum staker and go-to staking infrastructure provider for ecosystems like the BNB Smart Chain, Polygon, and more.
Lido is a liquid staking solution for 5 cryptocurrencies, backed by industry-leading staking providers.
Lido attempts to solve the problems associated with initial ETH 2.0 staking — illiquidity, immovability, and accessibility — making staked tokens liquid and usable across the growing DeFi ecosystems.
About Krystal DeFi
Krystal is a multi-chain wallet that simplifies & serves all of your DeFi needs. With the convenience of a single platform, users can swap and bridge tokens, earn passive income, access cutting-edge portfolio management & market insights tools, and participate in token sales via its IDO launchpad, KrystalGO. All features can be accessed on both website and mobile app (iOS and Android).
To date, Krystal currently supports DeFi services on 11 blockchain networks, including Ethereum, BNB Smart Chain, Polygon, Avalanche, Fantom, Cronos, Arbitrum, Aurora Klaytn, Solana and Optimism.
To learn more, visit https://krystal.app