One of the main trends that many experts predict in the coming season is Liquid Staking. This will be a magnet to attract a large amount of liquidity. Therefore, today I will continue to learn more about a project about Liquid Staking on Sui Blockchain. So let’s find out what’s special about this project in this article.
To understand more about the project, you can read the articles:
- What is Sui (SUI)? Sui Cryptocurrency Overview
- What is LSDfi? The First Puzzle Pieces & Potential In The LSDfi Array
Haedal Protocol Overview
What is Haedal Protocol?
Haedal Protocol is a Liquid Staking protocol built on the Sui Blockchain, it allows anyone to stake SUI to contribute to governance and ensure decentralization on the Sui Blockchain. When you stake SUI on Haedal, you will receive haSUI back and can use it to continue participating in other DeFi projects to earn more profits.
Mechanism of action
Before going into how the project works, let’s understand the basic concept of the project, haSUI. haSUI is a token generated when you Stake SUI on Haedal. It is a Yield Bearing Token, representing the amount of SUI stake. haSUI will have all the same use cases as SUI and can be used across the entire SUI ecosystem, for example using on DEXs, lending, collateral to mint stable coins,… Rewards received from the SUI staking process will increase the value of haSUI and you will be able to exchange more SUI.
Project operating mechanism:
- Step 1: You Stake SUI on Haedal
- Step 2: Receive Liquid Staking Token (haSUI) and the project will use your SUI to participate in staking on the SUI network to earn rewards.
- Step 3: After receiving haSUI, you can participate in other Defi projects on SUI. Currently there is only one liquidity pool for the haSUI-SUI pair on Cetus.
The APR from SUI staking on Haedal is 4.1% and the project will collect a 10% fee from the staking reward.
Development Roadmap
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Core team
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Investors
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Tokenomics
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Exchanges
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Project Information Channel
- Website: https://haedal.xyz/
- Twitter: https://twitter.com/haedalprotocol
- Telegram: https://t.me/haedalprotocol
- Discord:
Summary
At the time I wrote this article, the total locked assets on Haedal were 14,450 SUI, a quite modest number. This may also be partly because the market is in the Downtrend phase and partly because the project has not yet designed many use cases for the haSUI token, leading to a low demand for people to stake on Haedal. If you are interested in the project, please follow me to update the latest information.
