Given the burgeoning DeFi ecosystem, Tezos Capital CEO Jonas Lamis is launching StakerDAO, a decentralized autonomous organization (DAO) that will decide on which blockchains to stake for.
Booming DeFi Market the Inspiration Behind StakerDAO
MakerDAO is a DAO that allows borrowers to borrow the DAI stablecoin against Ether deposits. MKR token holders determine the interest rate and the collateralization ratio.
For its part, StakerDAO is similarly positioned to allow STKR holders to benefit from an underlying DeFi protocol. Token holders will vote on which Proof-of-Stake (PoS) networks to participate in and maximize their returns. Built on Tezos, the protocol essentially minimizes single token risk. By being able to switch from one PoS network to another, or stake for multiple networks, STKR holders can reduce exposure to risk and maximize staking rewards.
Decentralized Governance Set to Grow
The lead developer behind StakerDAO, Tezos Capital CEO Jonas Lamis, blended two ideas together.
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Author: Paul de Havilland