Connext Ecosystem #1: Stakeall Finance
A deep dive into Stakeall Finance: What is it, a brief history, current integrations, and why Connext was chosen
What is Stakeall Finance?
Stakeall Finance is a fully decentralized non-custodial DeFi platform focused on building DeFi strategies that are basically a series of actions wrapped in a single transaction.
These innovative DeFi strategies open a new gateway for users to participate in DeFi with:
Better returns — help in providing a higher yield
Minimal opportunity cost
Great staking experience
A Brief History
Just like many other leading DeFi protocols; Stakeall is a platform that’s been started being developed at a hackathon back in June 2021; Hack Money of ETHGlobal and awarded as one of the finalists.
After extensive development and receiving grants from Connext Network and Aave, Stakeall launched its Beta version in December 2021.
Stakeall Finance went live on Mainnet in April 2022 with the integrations of 6 different protocols:
1inch Protocol: With 1inch integration, users can buy staking tokens using decentralized applications in one go.
AAVE Protocol: With AAVE integration, users can borrow assets for staking in a single transaction.
PoLido Protocol: PoLido is integrated for liquid staking for MATIC tokens. Users can bridge stMatic tokens to the Polygon Network.
Graph Protocol: With Graph integration, Users can delegate GRT tokens to indexers.
Polygon: Users can directly stake MATIC tokens to validators in the Polygon ecosystem.
Connext Network: With Connext integration, users can perform cross-chain staking by transferring assets from Polygon network.
Why Connext was chosen?
Security: Connext bridge and interoperability protocol have by far the most secure design among EVM compatible chains. The Connext architecture is based on smart contracts, and a process flow that prevents anyone from losing funds, or even worse, from getting them stolen.
Message passing: Unidirectional and bi-directional message passing.
Instant liquidity bridging and call data passing: This allows you to abstract the gas interface away from the user by letting the protocol call the function on the receiving chain.
Thanks to Connext’s network of routers and liquidity providers, users can enjoy fast and cheap liquidity (without having to wait for 30 minutes) while enjoying an experience as safe as the blockchains it connects. We have actually designed this monitoring of the transactions happening via Connext to be lucrative.
Current DeFi Strategies
Multi validator staking: In a single click, users can stake MATIC or GRT to multiple validators. Learn how to use here.
Buy and stake: Users can buy staking tokens from DEXs and stake to validators in a single transaction. Learn how to use here.
Leverage stake: User can borrow assets from AAVE protocol and directly stake to validators and earn more rewards. Learn how to use here.
Cross-chain staking: All three strategies can also be executed from Polygon Chain. Users can stake GRT to indexers from Polygon(Previously Matic) network. Funds are transferred using the Connext Network bridge from Polygon to Mainnet for staking.
Everything happens in 1 transaction for the user. It helps saving gas costs, especially during Leverage staking, as your Aave Position can be managed on Polygon Network effectively.
Shuttle System: Liquid Staking Shuttle For Lido on Polygon
Shuttle System for Lido on Polygon is live on Mainnet since June 3.
With Stakeall Shuttle System, users can stake Matic tokens on the Polygon chain and save high transaction fees.
What is Shuttle System?
The shuttle system is a smart contract-based cross-chain staking protocol that allows users to stake Matic on Polygon.
How Does it Work?
After a significant amount of Matic is deposited to the shuttle, the Shuttle system sends Matic to Ethereum Mainnet for staking and receives equivalent stMatic on Polygon Network.
Once the shuttle arrives on Polygon Network, users can claim an equivalent stMatic token on Polygon.
Why is the Shuttle System significant?
Gas efficient
Good for small investors
Higher rewards
Great staking experience
Learn: How to use the Shuttle System
Stakeall Finance
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About Connext
Connext is a network for fast, trustless communication between chains and rollups. It is the only interoperability system of its type that does this cheaply and quickly without introducing any new trust assumptions. Connext is aimed at developers who are looking to build bridges and other natively cross-chain applications. To date, over $1.5b in transactions have crossed the network.