What can be done to further improve Liquid Staking?

Gi01

full member

Activity: 342

Merit: 110

Quote from: GreatArkansas on March 20, 2022, 02:57:22 AM

For me is the support of multiple chains, it's like a feature that is available not only on 1 chain like Ethereum network, it could be also available on other chains just like Solana or Avax network.
It is somehow bridge-related but to be honest, it's really complex, I am not sure if there is already some project that already have this.

I don't really think this is complex as you might think. Considering Cosmos(ATOM) Inter-Blockchain Communication (IBC) protocol, this can be actually achieved. After some research on this innovation, I realized that this protocol enables the free exchange of assets and data across decentralized blockchains. I believe this protocol is the stepping stone to improve liquid staking if only we take advantage of this technology.

GreatArkansas

legendary

Activity: 2338

Merit: 1354

For me is the support of multiple chains, it's like a feature that is available not only on 1 chain like Ethereum network, it could be also available on other chains just like Solana or Avax network.
It is somehow bridge-related but to be honest, it's really complex, I am not sure if there is already some project that already have this.

kvipcn

member

Activity: 255

Merit: 12

Quote from: Gi01 on March 20, 2022, 01:30:49 AM

Looking at Liquid staking, there is a lack of interoperability. The majority of all liquid staking protocols operate on a specific network, which is only operating on one network at a time. If liquid staking protocols can operate on two or more networks, I believe that can help improve the yield earning percentage. Introducing this mechanism can help improve Liquid Staking.

There is actually one blockchain network trying to introduce a revolutionary technology which is aimed to enable across network liquid staking. I believe Cosmos(ATOM) IBC (Inter-Blockchain Communication) technology is aimed at allowing any blockchain networks that adopts IBC to communicate with each other effortlessly. The underlying principle behind this technology is to enhance the transfer of Assets between any IBC adopted chains.