At the Polkadot Asia developer conference Sub0, leading decentralized liquid staking protocol Bifrost announced the launch of LoopStake, a new Leverage Staking product. The cutting-edge product, which will be available on bifrost.app starting on March 13, is intended to provide consumers a one-click, easier method to increase the return on their staked assets.
Through a process known as looping, users of leverage staking stake assets to earn an LST. They then use the same liquid staking token (LST) as collateral on a lending protocol to borrow the staked assets and earn the LST once again with the borrowed asset. Loopstake democratizes and adds a new dimension to crypto asset management by enabling users to access this approach with just one click and avoiding the very inefficient and gas-intensive procedure of manually looping collateral.
Bifrost, which has over $150 million in Total Value Locked (TVL) and is powered by Polkadot, is now the biggest liquid staking protoc
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