Drop Joins Lido Alliance to Revolutionize Interchain Liquidity

Drop has officially launched its innovative cross-chain liquid staking protocol as a key member of the Lido Alliance. As an Integrated Application on Neutron, Drop is set to unlock liquidity for staked assets across the Interchain, addressing the long-standing issue of capital being tied up and unusable.

Drop Launches as a Pioneering Cross-Chain Liquid Staking Protocol

Drop, developed by former Lido DAO contributors and P2P, aims to enhance the economic potential of sovereign blockchain economies. By converting idle staked assets into active liquidity streams, Drop addresses the $15 billion worth of assets currently locked in native staking, which hampers growth and application success within Interchain ecosystems.

“Historically, Interchain economies have faced liquidity and traction challenges due to capital being locked in native staking. Drop will tackle these issues by providing a secure, trust-minimized liquid staking solution that unlocks a range of new opportunities,” said Mitya Argunov, Co-Founder of Drop Protocol.

Lido Alliance Enhances DeFi Ecosystems

Drop’s integration with Neutron has facilitated high-profile DeFi partnerships and secured backing from the Lido DAO through the Lido Alliance. This support positions Drop’s liquid staked assets and Lido’s wstETH as critical components of DeFi ecosystems, including those on Celestia and Cosmos, and for major tokens like Celestia’s TIA and Cosmos Hub’s ATOM.
“Welcoming Drop into the Lido Alliance aligns with our goal to decentralize Ethereum and foster innovation. Drop’s integration with Lido allows for wstETH distribution across the Interchain, unlocking new restaking opportunities and enhancing native ETH staking.”

ADCV, Contributor at Lido DAO
Unlike traditional staking methods, Drop’s liquid staking assets enable automatic compounding of rewards, additional DeFi yield, flexible staking exits without waiting periods, and contribute to ecosystem growth. Drop’s unique smart contract design on Neutron provides seamless interaction with DeFi applications, boosting yields and user flexibility while avoiding trading fees and slippage.

See also  Value Locked in Defi Nears $100 Billion Milestone Amidst Broad Market Uptick and Lido Dominance

Currently supporting ATOM, Drop plans to expand to TIA and other assets soon. Early users will have a chance to participate in the Droplets program, which rewards active contributors with DROP tokens and Drop DAO membership.

For more information about Drop, visit drop.money.

About Drop

Drop is a cutting-edge liquid staking protocol designed to enhance Interchain economies by converting inactive staked assets into active liquidity. Integrated with Neutron, Drop uses advanced smart contract architecture to offer secure, trust-minimized liquid staking services with minimal overhead and risk.

About Neutron

Neutron is an Integrated Application network that combines powerful appchain infrastructure with the speed, cost efficiency, and composability of smart contracts. Built with the Cosmos SDK and CosmWasm support, Neutron allows developers to create affordable, secure smart contracts with high interoperability.

About the Lido Alliance Framework

The Lido Alliance Framework, initiated by Lido DAO, supports protocols that advance Ethereum decentralization and validation.

Source link