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VLX Liquid Staking

December 4, 2023
Accumulated Finance , Ecosystem Updates

We are pleased to announce the launch of VLX Liquid Staking on Accumulated Finance.

Introducing stVLX

stVLX is an VRC-20 token representing the staked VLX on the Velas Native. VLX staked in liquid staking are held in multiple staking accounts, delegated to different validators.

stVLX tokens staked on Accumulated Finance will earn the Velas staking APR.

It’s possible to mint stVLX using VLX on Velas EVM (1:1, no fees) and later we plan to deploy liquid staking for BEP-20 VLX on Binance Smart Chain and enable the cross-chain stVLX transfers between Velas EVM & Binance Smart Chain.

stVLX/VLX Stableswap Pool

Similar to the other liquid staking products, we deployed stVLX/VLX WagyuSwap Pool, which allows people to convert stVLX into VLX and vice versa, thereby making staked VLX liquid — holders of stVLX can exchange stVLX into VLX at any time and exit their liquid staking position.

In addition, the WagyuSwap team has set up a farm for stVLX/VLX LPs to earn WAG rewards.

How to participate in liquid staking and earn staking rewards?

VLX Liquid Staking is available from this link:

  • Mint stVLX from VLX using the ‘Mint’ form
  • Stake stVLX using the ‘Stake’ form

Staking rewards are automatically compounded during the staking period and become a part of your stake.

VLX Liquid Staking was originally published in Accumulated Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.

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