Unlock Liquid Staking in Aleph Zero

admin4 hours ago

Chainwire, London, UK, November 21, 2024

Ike is proud to announce its official launch. Liquid Staking Token (LST), SA0From Aleph Zero. This milestone provides the Aleph Zero community with a new way to participate in the network by providing staking flexibility without compromising on rewards.

What is sA0?

SA0 Ike’s native Liquid Stake Token designed to enhance your staking experience on Aleph Zero. sa0 allows users to stake AZERO tokens to keep their assets liquid while supporting network security and earning rewards. This means that sA0 tokens can be used across Aleph Zero’s ecosystem, opening up new opportunities for engagement and growth. In other words, sA0 grants users the ability to “stake and spend” at the same time.

SA0 benefits

Liquidity Meets Rewards: Users will receive sA0 tokens in return for their staked AZERO, which will allow them to continue receiving rewards while maintaining liquidity.
Seamless integration: sA0 integrates seamlessly with Aleph Zero’s growing DeFi ecosystem, creating more utility and value for stakers.
Stronger network security: sA0 supports the overall security and resilience of the Aleph Zero network by encouraging greater participation in staking.

Building towards gradual decentralization

The launch of sA0 is an important step in Ike’s roadmap towards progressive decentralization. To ensure that most slots are open for permissionless entry when governance is activated, Ike launched with seven initial validators, including Deutsche Telekom and STC Bahrain. As part of this journey, Ike will soon introduce community-driven governance features, including permissionless validator registration, initially expanding to 30 slots with a fully transparent on-chain bonding process. This enables a dynamic and competitive validator ecosystem where the community plays a central role in decision-making.

Stephen Novenstern, Ike FounderCommented:

“The mainnet launch of sA0 is an exciting moment for both the Ike and Aleph Zero communities. SA0 provides powerful tools to stake while maintaining liquidity, and this is just the beginning of our commitment to building a decentralized, community-driven ecosystem.

From the beginning of the Ike project, we wanted to build a Liquid Stake protocol that went beyond simply unlocking staked liquidity. We wanted to ensure that the Ike DAO controls the percentage each validator gets and is not allowed to get on the (validator registry) list.”

What’s next?

Now with the launch of sa0, Ike invites the Aleph Zero community to explore the benefits of liquid staking. In the coming months, Ike will focus on expanding the usefulness of sA0 within the ecosystem and rolling out governance features to further empower the community to shape its future. Users can see more here at Ike Docs.

About Ike

Ike is home to the sa0 Liquid Stake Protocol smart contract running on Aleph Zero WASM. Together with the ecosystem’s community, validators, and other builders, they are fundamentally reshaping the network, providing liquidity at the base layer, providing configurable rewards, increasing participation, and ultimately strengthening network security.

Inspired by the Japanese art of flower arrangement, Ike is committed to creating harmonious and resilient ecosystems. By providing users with flexibility and liquidity in their staking journey, Ike helps the Aleph Zero community utilize the full potential of their assets while contributing to the growth and stability of the network.

Users can join the Ike Discord community and follow on Twitter to receive the latest developments and connect with other like-minded people.