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| Wednesday, 31 March 2021, 16:00 HKT/SGT | |
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Source: Moonstake | |
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SINGAPORE, Mar 31, 2021 - (ACN Newswire) - Today, Moonstake is proud to announce the entry into the DeFi market together with Muse.Finance.
The Staking and DeFi Boom in 2020, Top Staking Provider Moonstake Joins The DeFi Space
In January, 2021, Moonstake officially announced its entry to the DeFi sector. Today, with over 800 million USD in total staking assets, Moonstake is the top 8 biggest staking provider in the world. In less than one year since launch, Moonstake achieved rapid growth in both product development and a strong positioning in the market. Moving towards the DeFi sector, Moonstake welcomes applications from DeFi products looking to connect to its powerful staking network.
Though the concept was almost unknown back in 2019, the decentralized finance (DeFi) ecosystem has experienced an explosive growth in 2020. According to DeFi Pulse, while it took almost two years for DeFi deposits to reach USD 1 Billion in Total Locked Value (TVL) as of Q4 2019, it took less than six months (March to July 2020) for DeFi TVL to spike from ~USD 550 million to ~USD 4 billion (~727% increase). Today, the DeFi TVL sits at $42.6 billion.
As of 29 March 2021, the market cap of all Proof-of-Stake (PoS) protocols is $450 billion and the total value locked in staking is $127.66 billion. In August 2020 when interest in DeFi was rapidly increasing, it was forecasted it should take from 3 to 5 years for the value of staked assets to surpass $100 billion due to increasing adoption of PoS grows, but it was achieved within only a year.
What is Muse.Finance and How Does It Fit into The Moonstake Ecosystem?
Muse.Finance is a Decentralized Platform where crypto users can receive staking rewards while gaining interests of lending through wrapped assets, and at the same time participating in the yield farming. Its ecosystem, which consists of Muse Swap, Muse Lending, and Muse Wrap, enables a liquid PoS platform that integrates the ERC-20 DeFi Ecosystem with Ethereum 2.0, starting from Cardano and expanding to Polkadot, Solana, Oasis, Terra, Centrality, and more using advanced cross-chain technology.
Muse.Finance initially links non ERC-20 assets with the ERC-20 ecosystem, allowing owners of staked assets on platforms such as Cosmos, IRISnet, Cardano, etc. to participate in lending, liquidity mining, and yield farming, which eventually enables connecting other chains. The platform will also be highly scalable thanks to being linked to the staking pools operated by Moonstake. Having completed its PoC, Muse.Finance currently has a working MVP and along with its Roadmap, wrapper and swapping will be launched in May 2021, and the yield farming and the lending functionality will be added within this year. The concept paper of Muse.Finance is available here ( https://muses.finance/assets/file/Concept%20_Paper_Ver.%201.0.pdf ).
Muse.Finance is a project by Shogo Ishida, the Senior Advisor of Moonstake. He is also known as former CEO of QRC, the esteemed blockchain and RegTech firm that sponsored the world's first Security Token Specification provides for the technical specification and cross-blockchain publication of security tokens, covering tokens issued on any distributed ledger system, independently facilitated and published by BSI, the UK National Standards Body.
Shogo Ishida, the Founder of Muse.Finance says: "Lending, liquidity mining, and yield farming are all high-demand applications of DeFi today. Muse.Finance has been developed to enable the community access to these valuable DeFi services within a robust ecosystem with world-class scalability thanks to integration with the Moonstake staking pools as official partners. After much hard work, we're excited to finally show you the value of Muse.Finance this year. Please look forward to Muse.Finance's major roadmap developments throughout this year."
Mitsuru Tezuka, Founder of Moonstake says: "Moonstake is entering the DeFi market with Muse DeFi to facilitate and expand access to DeFi by working to resolve staking illiquidity. We will also be widely accepting applications from DeFi products that wish to connect to the Moonstake platform. As one of the top 10 global staking providers trusted by investors and wallet users across the globe, Moonstake's connection with DeFi through Muse.finance will support the development and dissemination of high-quality DeFi products through our powerful network."
Looking Ahead
The launch of Muse.Finance marks Moonstake's first entry to the DeFi market with a unique cross-chain platform that enables people to participate in valuable applications of DeFi including lending, liquidity mining, and yield farming.
Muse.Finance will launch its first products in May, Wrapper and Swapping. Then, it will gradually reinforce its DeFi platform with Lending Platform and Yield Farming within this year. The roadmap is available here ( https://muses.finance/assets/file/Muse.Finance.pdf ).
Learn more about Muse.Finance here: https://muses.finance
About Muse.Finance
Muse.Finance is a Decentralized Platform where crypto users can receive staking rewards as well as participate in wrapping, swapping, lending, and yield farming to gain benefit. Its ecosystem, which consists of Muse Swap, Muse Lending, and Muse Wrap, enables a liquid PoS platform that integrates the ERC-20 DeFi Ecosystem with Ethereum 2.0, starting from Cardano and expanding to Polkadot, Solana, Oasis, Terra, Centrality, and more using advanced cross-chain technology. Muse.Finance also links non ERC-20 assets with the ERC-20 ecosystem, allowing owners of staked assets on platforms such as Cosmos, IRISnet, Cardano, etc. to participate in lending, liquidity mining, and yield farming. https://muses.finance
About Moonstake
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.
Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.
With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 800 Million. https://www.moonstake.io/
Topic: Press release summary
Source: Moonstake
Sectors: Crypto, Exchange, Blockchain Technology
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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