CandleFocus Meta Pool Deploys a Liquid Staking Token on the ICP blockchain
2024-09-12
Author: Content Editor
Meta Pool, a multi-chain liquid staking service, is deploying a canister on the Internet Computer Protocol (ICP) blockchain to support decentralized finance (DeFi) platforms. The platform currently supports several Proof-of-Stake blockchains and has incorporated a liquid staking token called stICP. Users can deposit ICP tokens into the service and mint stICP to accrue rewards from the ICP blockchain's governance system. Meta Pool aims to support the ICP ecosystem through DeFi protocols and target frontier market regions such as Africa, Latin America, and Southeast Asia. The stICP token will allow users to hedge against inflation in regions with volatile local currencies. Meta Pool's new Liquid Staking Token (LST) will enable users to earn staking rewards without locking assets or maintaining staking infrastructure. The fees generated by stICP will be integrated into Meta Pool's Vote to Earn platform, distributing monthly staking rewards to governance participants.
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