Today, the Liquid Staked Ether index token was made available by MoonRock Finance, a provider of cryptocurrency index tokens (ticker symbol: LSETH). The top liquid Ether staking rewards tokens are collected in the LSETH index token. Users seeking diversified ETH yield have a straightforward, fee-free option with LSETH.
Staking has become a desirable method for obtaining a passive yield on ETH. However, staking has the drawback of requiring users to lock their tokens, which makes them less liquid. A lock-up is no longer necessary thanks to a recent innovation called liquid staking. As a result, the market capitalization of liquid-staked ETH tokens has increased dramatically to over $9 billion.
Finance Launches Liquid Staked Ether Index Token
To get a diversified ETH yield, use the LSETH index token, which offers a straightforward solution. Lido Staked ETH (wstETH), Rocket Pool ETH (rETH), Staked Frax ETH (sfrxETH), Coinbase Wrapped Staked ETH (cbETH), and Ankr Staked ETH make up the equal-weighted basket that makes up LSETH (ankles). On-chain governance will be used to automatically update the LSETH index as more liquid staking options hit the market.
JK, the founder of MoonRock Finance, said, “We’re thrilled to announce the launch of our liquid staked ETH index token, LSETH. “We’re especially pleased to offer this product at no cost. We anticipate that LSETH will benefit users by enabling index diversification and fostering the development of the liquid staking ecosystem.
There will be a learn-and-earn program on the Layer3 platform and liquidity mining incentives on xToken Terminal to raise awareness of LSETH.
The decentralized exchange Uniswap offers the LSETH token.
About MoonRock Finance
In order to enable people to invest in cryptocurrencies passively and unwind while enjoying their financial freedom, MoonRock Finance was established. Holders of MoonRock index tokens have the convenience and simplicity of a single token while gaining broad exposure to a basket of cryptocurrency tokens.
Products like the CPI token, which measures US price inflation, JPG, which offers extensive exposure to the NFT market, and LSETH, an index of the top liquid-staked ETH tokens, are available.
About Layer3
Layer3 was founded in 2021 as a web3 user acquisition and retention solution that helps teams acquire the actions & users that matter to them. Their no-code tools let customers create milestones for new or returning users through any set of on-chain actions.
Using powerful storytelling techniques (Quests) they’ve driven 10M+ on-chain interactions across top apps. Today, they serve web3 customers such as Coinbase Cloud, Hashflow, Slingshot, Stargate, Aave, 1inch, and more.
Disclaimer
This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice. Each purchaser of a MoonRock product should consult with his or her own legal adviser and tax adviser before purchasing such products. Digital assets are volatile and risky and may not be appropriate for your financial situation or investment goal.
