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

According to DeFi Pulse, around $700 million is locked inside DeFi smart contracts. The majority of that is within the MakerDAO ecosystem, an Ethereum product.

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.

After researching

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Author: Paul de Havilland

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