This press release was orginally distributed by SBWire
A New Way to Stake | Flashstaking
Whereas traditional finance pays out interest either gradually during the period or not until maturation, Flashstake disrupts the DeFi (decentralized finance) space by allowing users to receive the interest instantly.
The protocol locks the user's funds in a smart contract for the duration of the stake and pays out the full yield amount for that period instantly to their cryptocurrency wallet, all in the same transaction. The user can stake their funds for as little as a few minutes or as long as multiple years.
For example, a user who staked $1,000 worth of FLASH tokens for one year with an annual interest rate of 30% would instantly receive $300. When the staking period ends, the user also receives their locked tokens back.
Yield can be received in the form of any of the ERC-20 tokens available on the Flashstake dapp. Much like an AMM (automated market maker), the Flashstake dapp hosts liquidity pools with various ERC-20 tokens. Current options include Ethereum, DAI and Blockzero Labs' XIO token. However, users or projects themselves can add liquidity pools of any token.
Improving the protocol
The protocol has already surpassed 12 million USD TVL (total value locked) since launching at the start of 2021. However, the team is constantly looking for ways to improve.
The biggest long-term goal for improvement of the Flashstake Dapp is the Zynthetic upgrade, which will unlock the ability for any token to be staked on the dapp, not just the native FLASH token.
The team behind Flashstake is Blockzero Labs, known for tokens such as BOMB, XIO, FLASH and their upcoming token AQUA. With a proven track record they are determined to be behind the next generation of decentralized projects.
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Riga City, Latvia — ( SBWIRE ) — 04/05/2021 — Flashstake is a Proof-of-Time (POT) powered yield-generating protocol that allows users […]