Drop is a cross-chain liquid staking protocol that allows users to stake interchain assets while receiving dAssets, which auto-compound staking rewards and can be utilized across various DeFi applications. This solution addresses the need for liquidity in staking, enabling users to maintain access to their assets while earning additional yields.
Funding
Funding not disclosed
Founders
Product
Problem
Staking assets across different blockchain networks often locks up capital, preventing users from participating in decentralized finance (DeFi) activities with their staked assets. This illiquidity limits capital efficiency and restricts users from earning additional yields on their staked holdings.
Solution
Drop provides a cross-chain liquid staking protocol that allows users to stake assets from various blockchains and receive dAssets in return. These dAssets represent the staked assets and auto-compound staking rewards, accruing value over time. Users can then utilize these dAssets across a wide range of DeFi applications to generate additional yield, unlocking the value of their staked assets while still earning staking rewards. Drop leverages Neutron for economic security, backed by over $2 billion of staked ATOM from the Cosmos Hub.
Target Audience
The primary target audience includes DeFi users, stakers of interchain assets, and developers looking to integrate liquid staking solutions into their applications.
Features
- Cross-chain staking support for assets across multiple blockchain networks
- dAssets that auto-compound staking rewards, increasing in value over time
- Wide integration of dAssets across various DeFi applications for additional yield generation
- Economic security provided by Neutron, backed by staked ATOM from the Cosmos Hub
- Support for multiple Cosmos-based decentralized exchanges (DEXs) such as Osmosis and Astroport
- Compatibility with lending platforms like Mars, Shade and Margined
- Open-source code and comprehensive documentation for developers
- Integration with yield splitting protocols like Fission