🔥Jupiter announces the first liquid staking 🤑
After the latest updates and improvements to the products of @Jupiter 🪐 , we have a new way to optimize our strategy in #defi , and that is that through the Rainfi protocol we will be able to do liquid staking and use the #tokens #JUP as collateral for loans.
This new way of liquid staking was something that was within the plans of #jupiter , as this new improvement was mentioned in Catstambul, but it was not known how the process would be or when.
Now we have more information about it, and it has been revealed that through the Rainfi protocol, we will be able to do #staking of our JUP tokens and in exchange we will receive a liquid staking token (stJUP). With this we can continue voting (receive rewards) and use the stJUP token as collateral for loans (there are different tokens for loans).
Since this is something new, if you are already staking on Jupiter, you need to do unstaking, wait 30 days, and then restake in Rainfi, as long as you want to take advantage of this new opportunity in Defi.
I think it is a good initiative by Jupiter to be able to use our JUP tokens in Defi, as this topic was widely discussed among DAO members. However, I would also like this transition to the new protocol to happen quickly and not to wait the 30 days. Perhaps later we can make the transition without waiting 30 days.
Personally, I will wait a bit, due to the upcoming votes, and I will do unstaking when I see that the voting for this period is coming to an end to be able to use it in Rainfi.
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