Hassan Maishera
The contributors behind http://stacy.fi, a powerful staking platform built on Tezos that combines baking rewards with instant liquidity, announced on August 13th that they have brought stXTZ, the liquid staked tez (XTZ) token, to Etherlink, the EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollup technology.
In a press release shared with Cryptowisser, the team said stXTZ enables staking on the network to maintain full liquidity of their funds, meaning that they can continue to earn native tez staking rewards while engaging with high-performance DeFi applications on Etherlink.
This latest development comes as the global liquid staking market has experienced rapid growth, surpassing $45b, driven by solutions like stETH from Lido, which have become foundational assets in DeFi ecosystems. Liquid staking tokens effectively address capital inefficiencies in traditional staking, allowing users to simultaneously earn staking rewards and maintain asset liquidity. This dual benefit has fueled their widespread adoption in lending, trading, and yield farming applications.
Stacy.fi is powered by Acurast and was developed by core contributors at Ubinetic AG on behalf of the Youves DAO. Youves DAO, which comprises all YOU token stakers, now administers the stXTZ pool, token, and manager contracts. While stXTZ holders retain 90% of all staking rewards, 10% of the staking rewards will be collected by a dedicated reward-collecting contract controlled by the Youves DAO.
While commenting on this launch, djangobits, contributor of Youves, and stacy.fi, said,
“stXTZ from stacy.fi allows DeFi users in the Tezos ecosystem to make use of their Tezos funds in DeFi offers on Tezos L1 and on its rapidly emerging Layer 2 Etherlink, while contributing to the security of the L1 and earning 90% of the potential staking rewards. With liquid staked tez, the ecosystem is ready for the next era of DeFi, not only on the L1, but also on the current and future L2s.”
The integration takes advantage of Etherlink's secure bridging infrastructure, where stXTZ tokens are locked on Tezos L1, and ERC-20 compliant proxy tokens are minted on Etherlink L2. A Chainlink-compatible price oracle powered by Acurast delivers real-time price updates for DeFi platforms on Etherlink based on the stXTZ staking pool contract on Tezos L1.
David Relkin, Head of DeFi at Nomadic Labs, added that,
"The integration of stXTZ addresses a fundamental challenge for users seeking to earn staking rewards while participating in Layer 2 DeFi. With stXTZ on Etherlink, users can maintain their Tezos staking exposure while benefiting from the enhanced performance and cost-effectiveness of our Layer 2 infrastructure."
With this launch, stXTZ is now available across Etherlink's growing DeFi ecosystem, including Superlend for borrowing and lending operations, Curve Finance, and IguanaDex for trading stXTZ/WXTZ. It is also available on Hanji for advanced users and seasoned traders seeking a more professional trading experience, and Uniswap V3 via oku.trade, Etherlink’s AMM-style trading hub for blue-chip assets.
Etherlink is an EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups technology. It empowers developers to smoothly deploy any EVM codebase and migrate users and assets from Ethereum and other interoperable chains, enabling seamless interaction and asset transfers across different networks.
Youves is a synthetic asset platform, originally built by Ubinetic AG, a Swiss solution provider for web3. Youves evolved into a DAO on the Tezos L1. With a TVL of over USD 50M, youves is the biggest DeFi Platform on Tezos. Youves is controlled by the Youves DAO. Stakers of YOU tokens form the youves DAO.
Finally, Acurast is a decentralized physical infrastructure network (DePIN) and a global fleet of smartphones to provide distributed, secure edge compute. With built-in TEEs and top-tier HSMs, these devices offer security that surpasses traditional servers. Started as the oracle solution of Youves, Acurast today powers several solutions in the Tezos ecosystem, like Youves (Oracles), tzBTC Bridge (automation), stXTZ (staking), and is expanding quickly into other ecosystems.
