Coinspeaker
Bifrost Unveils One-Click Leverage Staking Solution for Polkadot Ecosystem 

Bifrost, a decentralized liquid staking protocol has launched LoopStake, a leverage staking solution tailored for the Polkadot ecosystem.  According to a press release shared with Coinspeaker, the platform officially unveiled the new product at the Polkadot Asia developer conference “Sub0” in Bangkok, Thailand.

The event is a two-day conference slated for March 12 and 13. It will bring together Web3 innovators and developers from all levels of the Polkadot tech stack. Participants will discuss various topics relevant to the Polkadot ecosystem, including custom layer-1 blockchains, decentralized applications (dApps), and smart contracts, fostering knowledge sharing and collaboration.

Bifrost Unveils LoopStake

At the conference, the protocol said LoopStake is designed to streamline the automation of asset looping in lending protocols.

In traditional leverage staking, users stake assets to receive liquid staking tokens (LST). They then use these tokens as collateral on a lending protocol to borrow the staked assets and receive LST again with the borrowed asset – a process known as looping.

However, the launch of LoopStake eliminates the need for users to loop collateral manually, a highly inefficient and gas-intens...