StakeHound collaborates with DASH NEXT and Dash Core Group, allows Dash holders to access decentralized finance (DeFi) applications while earning staking rewards.
Newly launched StakedDASH has become a bridge between DASH and Ethereum DeFi ecosystems. It allows DASH holders to generate further yield. Through DeFi applications whereas at the same time continue receiving stable staking rewards.
DASH NEXT Co-Founder Felix Mago said,
With DeFi, different Blockchains are finally coming together. I am very excited about this partnership as it provides DASH users the benefits of DeFi applications. Such as lending or borrowing, and Ethereum users with an easy way to use DASH’s established global payment ecosystem.
StakedDASH is tradable in major DeFi platforms like UniSwap, Curve, Aave, and others, using the Radix or Ethereum networks. They can also be converted into the original Dash tokens at any point.
In the meantime, the DASH tokens held by StakeHound will be conducted in a Dash masternode. And earn the standard rate of network rewards, which is issued to users as additional stakedDASH.
This enables Dash holders to gain the profit of network staking, but without needing to lock up the 1,000 DASH required to create their own masternode. The amount required to stake through StakeHound is a minimum of 1 DASH, at the time of writing worth $68.8.
Founder and CEO of StakeHound Albert Castellana have mentioned his intention, and dedication to explore DeFi capabilities to build and integrate DeFi on Dash Platform after the upcoming launch of mainnet.