News29 September 2021

Acala Launches its First Liquid Staking Product for Polkadot & Kusama

Acala Launches its First Liquid Staking Product for Polkadot & Kusama

Summary

  • Acala announced its partnership with Blockdaemon
  • The project aims to support its staking derivatives for Kusama (KSM) and Polkadot (DOT)
  • This will be the first liquidity staking products on Kusama and Polkadot
  • The product launched on Acala’s Kusama-based blockchain, Karura

Polkadot’s decentralized finance network and liquidity hub, Acala, announced its partnership with a top-performing blockchain infrastructure provider, Blockdaemon, on a project that aims to support its recently-launched staking derivatives for Kusama (KSM) and Polkadot (DOT).

As the first liquidity staking products on the Kusama and Polkadot ecosystem, the DOT and KSM liquidity staking will offer new financial products class. These will be based on compound staking liquidity and will create new use cases for developers and users.

The product launched on September 28 on Acala’s Kusama-based blockchain, Karura. The product will also launch on Acala, an upcoming blockchain platform on Polkadot.

“As the leading blockchain infrastructure provider, pushing for innovation in the staking and security space is a top priority for Blockdaemon. Acala’s Liquid Staking product is poised to unlock billions in liquidity across Polkadot and Kusama, and we are excited to be the first node operator to join this program to help users compound their DOT and KSM staking yield.” – Konstantin Richter, Blockdaemon founder, and CEO.

Kibet Elikana
Write a comment