Sirlibz
Dash cryptocurrency through a partnership with StakeHound will allow the cryptocurrency holders to have access to Decentralized Finance (DeFi) world. Dash tokens will have to be deposited to the StakeHound, this will allow them to earn network rewards from the Dash Masternode system. StakeHound will now serve as a bridge for Dash holders to embrace a fair share of the StakeHound will receive a wrapped ERC-20 back called StakedDASH, a DeFi representation of Dash token and can be traded for other CryptoCurrencies in other major Defi recognized platforms such as Uniswap, Aave, Curve and others. The DeFi token can be converted back to the original Dash tokens anytime the owners wish to do so.
The staked tokens on the MasterNode will earn holders the standard rate of network rewards and these rewards will be issued as extra StakedDASH. Investors interested in Staking on the StakeHound platform only need a minimum of one Dash instead of the previous procedures of creating your own MasterNode which involved a lock-up of 1,000 Dash tokens.
The partnership will see 100th parties allowing users to not only access Defi but to also allow Defi users to access Dash.
Mason said that the bridge “provides an additional on-ramp for DeFi, but more importantly a much-needed off-ramp for DeFi users who wish to easily convert their gains into a well established scarce cryptocurrency with utility beyond the DeFi ecosystem. This allows DeFi users to exchange DeFi tokens for Dash enabling them to actually spend and use those tokens in the real world.”
