What is KlayStation? KlayStation is a liquid staking platform built and developed on the Klaytn ecosystem. Users who own KLAY tokens can participate in staking on the platform to earn profits for themselves.
Let’s find out what is special about this project with Weakhand in this article.
What is KlayStation?
KlayStation is a Liquid Staking project on the Klaytn platform. Users can deposit KLAY tokens into the platform to receive sKlay at a 1:1 ratio. Currently, users can choose nodes of famous investment funds such as Hashed, Jump Crypto, Everstake,… with rewards ranging from 6% – 10%/year.
The image below shows the operating model on the KlayStation platform
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First, KLAY holders deposit their KLAY tokens into the KlayStation platform and receive a reward of 9.46%/year (this betting reward is not fixed but depends on the amount of KLAY bet, as the number of bets increases). , this ratio will decrease).
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The reward system is in sKLAY token corresponding to KLAY (ratio 1:1) that the user has staked.
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When wanting to unstake, users must wait 7 days to receive their KLAY tokens.
After only three months after launch, KlayStation has received explosive attention from the market. More than 170 million KLAY tokens are locked in the Klaytn network. With this level of popularity, KlayStation has now become the most used platform in the Klaytn network.
What is the Difference of KlayStation?
KlayStation currently runs on both web and mobile platforms. This makes it convenient for users anytime, anywhere as they only need to connect Klaytn’s wallet (kaikas for websites and Klip for mobile) to use the KlayStation platform.
A special feature of KlayStation is that when staking KLAY, users receive sKLAY at a 1:1 ratio. This helps users receive compound interest when receiving the annual reward. In addition, they can also bring sKLAY tokens to participate in DeFi activities on the klaynt platform such as swapping sKLAY tokens into KLAY on Klayswap,…
This operating model is similar to Lido Finance on the Ethereum platform. Everyone can learn about Lido Finance’s operating mechanism here.
The special feature of Lido Finance that helps them surpass other Liquid Staking platforms is that the usecase of stETH is very large. Users can provide liquidity to AMMs such as Uniswap, Curve Finance, …, lending on MakerDao, Aave platforms, …, optimize profits on yearfinance, ….
KlayStation is also taking the first steps in developing more use cases for sKLAY. Currently, users can use sKLAY to swap sKLAY into KLAY, providing liquidity for KLAY + sKLAY, gobus + sKLAY pairs on the klayswap platform.
Core Team
KlayStation was developed by Orbit Chain(Ozys) – the first blockchain company in Korea. In addition, Ozys also develops other outstanding projects on the klaynt ecosystem such as Klayswap and Orbit Bridge.
Investor
Updating
Tokenomics
Currently, the project has not issued tokens
Information Channel of KlayStation Project
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Website: https://klaystation.io/
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Twitter: https://twitter.com/Orbit_Chain
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Medium:
summary
KlayStation Is the leading Liquid Staking platform on the Klaynt ecosystem. With the advantage of being a first mover along with the community’s attention, KlayStation has emerged as one of the leading projects on the Klaynt ecosystem. However, Klaynt still has quite a few pieces of the puzzle as well as dApps operating in the ecosystem, so it is quite difficult for KlayStation to explode. We need time for the Klaynt ecosystem to complete the puzzle pieces and look forward to the next development of KlayStation.