Dash Core Group and Dash Next have recently partnered with Stake Hound thus making it possible for Ethereum DeFi users to be able to earn rewards with StakedDASH. Dash users will now be able to earn staking rewards.
Dash tweeted: “StakedDASH will become an essential bridge between DASH and Ethereum DeFi ecosystems. Albert Castellana, CEO of StakeHound has stated his intention to explore opportunities to build and integrate DeFi on Dash Platform.”
As stakedDASH is making it to the market later this year StakeHound will be therefore connecting two ecosystems and thus provide a gateway for liquidity flow.
Ryan Taylor, CEO of Dash Core Group stated, “With Dash extending into DeFi as a result of this partnership, new doors and use cases will be available to Dash users as well as ERC-20 blockchain users. This functionality provides the ability for one to explore the world of DeFi or from the other side, the world of Dash while continuing to see returns through staked Dash. I am excited to see how this partnership evolves and the great work that will result.”
Sydney Ifergan, the crypto expert tweeted: “StakedDASH will be opening DASH holders with an opportunity to generate additional yield with major DeFi applications and at the same time getting stable staking rewards.”
DASH Users and Holders
It is interesting to see that Decentralized finance is bringing all block chains together. Users from different blockchain ecosystems are now having to greet each other to work together towards achieving combined economic benefits for all.
Reportedly, there has been a dramatic increase in the value that is locked in the DeFi Apps ranging from $500m to $11bn over the past 12 months. This is an impressive growth and it very clearly demonstrates that all these products are important to the cryptocurrency users and holders.
Albert Castellana, Founder and CEO of StakeHound expressed that over the past 6 years DASH has demonstrated to have solid communities and innovative governance models in the cryptocurrency space. He expressed that StakeHound are very keen in the process of working together to improve on the utility of the stakedDASH in Defi while exploring the important capabilities which the DASH platform might be bringing along with it.
Dash entering in to Defi is an exciting new thing for its followers making it possible for users to explore the world of DeFi from other side. Dash users will be able to see returns through staked Dash.
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