The decentralized finance (DeFi) ecosystem is constantly getting new projects that seek to make the space better for developers and users.
DeepStake Finance, the latest addition, recently launched a staking and yield platform for the DeFi and cryptocurrency space.
The blockchain-based platform seeks to ease most liquid cryptocurrencies’ staking while providing the highest yields for its users. In addition, DeepStake will provide 24 liquidity adjustments for the different pools making it both a sustainable and profitable space for investors.
As per their website, users will use DEST, DeepStake’s native currency, for transactions on the platform. All staking rewards will be distributed using the native token. The developers have dubbed the token as “the vanguard in decentralized finance.” For incentives, the platform is currently offering early investors a 60% bonus on purchases made. This discount will, however, end on April 28 this year.
Notably, DeepStake is still at the beta stage and plans to go public in the next month. Unlike other projects before it, DeepStake developers did not initiate any pre-mine or pre-allocation of tokens to a select group of people. Token circulation will begin at zero. DeepStake has a total of one million DEST tokens.
DeepStake features and advantages
DeepStake has numerous features, including offering the highest annual proportion yield (APY) reward in the market and has some of the lowest commission. DEST holders will reportedly receive 10 to 30% discounts for driving DEST lending and borrowing functionality. Holders will also receive random bonuses from the platform.
Another advantage is that native holders will have a stake in the decision-making process. Holder will be able to vote on various matters, including cryptocurrency pools to add to the platform.
The platform will host leading virtual currency liquidity pools with numerous cryptocurrencies including, Ethereum, Basic Attention Token, Tether, Curve, Uniswap, and others.
Another feature to note is that there is a 20% membership fee charge on all DEST staking yields. This fee will reportedly be used for development and sustainability to give the platform on track.
Currently, people can only use the DeepStake website to Purchase the token. Once primary investors get their share, the platform plans on moving DEST purchases to Uniswap.
The future looks promising for this new addition which plans to introduce yield index products to cater to investors’ needs with different risk levels. The platform will also strive to meet the market’s growing needs and change accordingly to serve its ecosystem better.