As the Ethereum 2.0 release date approaches, An important topic in the stakeout mechanism is discussed in the community: the one-way street of deposits.
Possible interests in phase 0 of Ethereum 2.0 They can only withdraw or transfer their stake after the start of phase 1what could take years. Before this difficult choice Darma Capital is one of several companies that want to offer the brokerage option that allows users to access their capital.
Both private and institutional investors through its LiquidStake initiative You can delegate your capital and have the option of using it as collateral to obtain loans in USD Coin (USDC).
Unlike other proposals for stakeout derivatives, LiquidStake does not create new tokens to represent the amount of Ether Bound (ETH). James Slazas, CEO of LiquidStake, told Cointelegraph that This is due to the temporary nature of the service:
“The time window for phase 1.5 – we can all toss a coin on it – is 18 months, 36 months, sometime in between. So it’s a relatively short period of time with an end date. So when you start converting assets into tokens that you only have one for [vida útil] In short, the difficulty becomes what kind of liquidity there would be for that type of token. “
By using ether only as collateral for dollar loans, LiquidStake can offer a faster service. “With LiquidStake, you can have your stake and eat it too.”added Andrew Keys, co-founder of Darma Capital. And in this sense, [los stakers] They are likely looking for fiat money to cover their living expenses. So this is the problem we are trying to solve“.
The company has worked with equity providers including Bison trails, ConsenSys Codefi Y. Illustration for handling the actual validation processwhile OpenLaw Y. Lukka they helped the legal and tax management of the system. There are no minimum bet amounts, and the credit system works, at least on paper, according to the well-known mechanism of margin calls and settlement, since the ETH cannot be moved.
One notable limitation is that Potential customers must go through LiquidStake to join Ethereum 2.0 Otherwise, cannot be borrowed. Slazas stated that this was necessary in order to “perfect the interests in the collateral,” which means that No other party has the right to make this claim. In practice this is necessary to ensure this There are no copies of the private keys at stake with Ether.
Slazas said that LiquidStake solves another big problem at the same time: the tax implications of using Ethereum. Especially in the institutional area Going through LiquidStake simplifies tax treatmentYou are simply entering into a swap agreement with Darma, a fully licensed and regulated commodity bartering and trading company.
“The only difference [para las instituciones] is that there is much more regulatory and tax clarity with a swap. […] We already know it’s a non-securities swap and there is over 30 years of tax history on how to deal with it. “
Although Darma will make money on this deal by collecting interest and a “performance fee” on returning the stake, Keys said so “We are here to decentralize and expand Ethereum 2.0.”
Progress on Ethereum deposit agreements has been slow so farat least in part due to the inability to access the funds locked in the deposit agreement. LiquidStake helps solve this problem, but the solution is highly centralized.
At least in part, this seems to have been necessary in order to arrive in time for the launch of Ethereum 2.0, as Keys pointed out The team will look for ways to decentralize service in the future.