StakeStone is a decentralized full-chain liquidity infrastructure protocol that innovates the liquidity distribution model of blockchain networks. Based on a full-chain architecture, StakeStone supports efficient yield generation, liquidity provision, and flexible asset management, providing sustainable liquidity solutions for the on-chain ecosystem.
Specifically, the StakeStone white paper states that StakeStone is a decentralized adaptive full-chain liquidity infrastructure that introduces STONE (yield-generating ETH), SBTC, and STONEBTC (respectively full-chain liquidity BTC and yield-generating BTC) along with LiquidityPad, enabling users to release full-chain liquidity while earning optimized and sustainable returns.
StakeStone on Binance: StakeStone (STO) was listed on Binance on May 3. As it is the 17th project in Binance's HODLer airdrop program, it attracted a large number of BNB holders to participate and pay attention.
Niu Di himself participated in staking and obtaining project token STO airdrops when he collaborated with the StakeStone project and Binance wallet. He has a deep understanding of the project. At that time, STONE was running activities in Manta, and initially, it could not be withdrawn after depositing. If one was eager to exit, they would choose to sell on DEX, which would lead to the decoupling of STONE/ETH and signs of STONE being discounted. Previously it dropped to 0.9, meaning a 10% profit could be made. This brought an increase of 300 million dollars in TVL to StakeStone.
Since it is a yield-generating staking project on Ethereum, what is the correlation between TVL and the project?
From the perspective of market dynamics, high TVL is often accompanied by high debt. To compete, this debt is continuously increased, putting heavy repayment pressure on the secondary market. Once TVL exceeds a certain critical point (such as 1 billion dollars), it may instead drag down market value due to increased selling pressure and intensified repayment pressure.
Furthermore, we need to pay attention to the impact of primary market financing on the protocol's market value. Large amounts of primary market financing, if too much capital is introduced relative to TVL, can attract more funds to push up TVL, but the annualized yield requirements and investors' expected returns from this financing can also become a significant burden on the protocol's market value. Therefore, it is not the case that higher TVL will naturally lead to higher market value; on the contrary, high TVL and high shares of primary financing may hide greater market risks and return pressures, as this TVL is essentially obtained through 'high-interest loans'.
For StakeStone, I believe the true measure of TVL value is the TVL utilization rate. Because unused TVL does not bring value to the industry and ecosystem; rather, it is more about extracting value. StakeStone is committed to building a liquidity ecosystem that brings value to the ecosystem, and the top priority of liquidity assets is always to have good exit liquidity anywhere.
Project Advantages
1. Currently, it has closely integrated with over 40 protocols and established docking relationships with over 100 protocols. At the same time, cooperation with Native.org will become a new paradigm for solving the multi-chain liquidity fragmentation problem. At that time, STONE will be the only ETH asset with equally good exit liquidity across any chain.
2. LiquidityPad: Injecting sustainable liquidity into new public chains allows users to deploy mainstream assets to the new chain ecosystem with one click, enjoying new chain incentives while retaining usage rights on the original chain, achieving bidirectional asset flow and optimal yield solutions, which is key infrastructure for the cold start of new public chains. 3. takeStone has significant advantages in asset transparency, liquidity, and composability. Every asset in its asset pool remains highly transparent. At the same time, StakeStone ensures that assets have real liquidity, allowing users to deposit or withdraw at any time. Additionally, composability allows STONE to easily integrate into various DeFi protocols, creating more diverse application options for users.
Tokenomics $STO Total issuance is 1 billion tokens, with specific allocation as follows:
Investors: 21.5%
Team: 15%
Foundation: 18.65%
Community: 17.87%
Marketing: 9.13%
Ecosystem Development: 4%
Airdrop and Future Incentives: 7.85%
Protocol Liquidity: 6%
This allocation plan reflects StakeStone's balanced design in incentivizing community participation, supporting ecosystem expansion, and ensuring long-term governance, while also laying a good foundation for the medium- to long-term value of $STO . The governance token STO of StakeStone is responsible for coordinating all value flows on the full chain, while achieving decentralized governance of the protocol. StakeStone adopts a voting token model (veSTO) as the basis of its governance system. By locking STO tokens, holders can obtain veSTO. Additionally, StakeStone will implement a multi-destruction mechanism. The StakeStone project allows changes to the underlying assets, but the method of changing the underlying assets is completely decentralized and requires the consent of LPs, and STONE Holders can participate in this decentralized governance mechanism.
Impact of Token Price After Airdrop
Currently, funds in the cryptocurrency market are mainly concentrated in mainstream assets like Bitcoin, while altcoins and emerging projects generally lack liquidity. After the airdrop tokens go live, they often experience rapid price declines due to a lack of sufficient buying funds. In response to the weakening effects of airdrops, the StakeStone project team has adjusted its strategy, no longer viewing airdrops as a purely marketing tool, but rather controlling token circulation and market sentiment through phased releases and tiered incentives. The response to the STO airdrop also reminds us that the effectiveness of airdrops depends not only on the number of tokens but also on the market environment, project quality, and community trust.
Project Outlook
StakeStone is not a speculative project that simply rides on short-term narratives, but rather an infrastructural attempt to address the underlying liquidity efficiency issues in blockchain. Its modular design, asset abstraction capabilities, and cross-chain liquidity thinking are all highly innovative. However, as a protocol still in its early stages, its complexity, high dependence on collaboration, educational barriers, and market cultivation challenges mean that it will still take time to observe whether it can truly generate network effects and activate the potential of the entire 'Omnichain Liquidity' narrative.
Looking to the Future
StakeStone, a full-chain liquidity infrastructure, recently announced that it received investment from Animoca Ventures in April. This investment will accelerate StakeStone's three key areas: introducing RWA and IP-supported assets, improving infrastructure for the Web3 consumer economy, and developing cooperative treasury and DeFi strategies. With STONE's high stability and good exit liquidity, it can be integrated by more protocols and scenarios, creating more revenue opportunities, including exploring various applications of STONE in the ORA ecosystem in collaboration with the Ethereum AI oracle protocol ORA, further expanding STONE's diverse application scenarios in the ecosystem and creating more value for users.
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