Crypto Exchange Kraken Backs Enterprise-Grade Liquid Staking Protocol – Bitcoin News

On Tuesday, the liquid staking firm Alluvial revealed a consortium of organizations will collaborate on the “first enterprise-grade multi-chain liquid staking protocol.” Alluvial’s announcement detailed the protocol will be known as the “Liquid Collective” and the cryptocurrency exchange Kraken has joined as a foundation member.

The Liquid Collective aims to promote a multi-Chain liquid Staking Standard

In a blog post published by the liquid staking company Alluvial, the startup introduced the new enterprise-grade multi-chain liquid staking protocol called the “Liquid Collective.” The Liquid Collective also has a Liquid Foundation, which includes participants such as Kraken, Coinbase Cloud, Staked, Kiln, Figment, and Alluvial. “[The] Liquid Collective will be governed in a decentralized manner by a broad and dispersed community of industry participants,” Alluvial’s announcement on Tuesday notes.

In the decentralized finance world (defi), liquid staking is a popular trend. Lido Finance, the world’s largest liquid staking service provider, offers a wrapped ethereum token called lido staked Ethereum (STETH). Coinbase launched its liquid staking token CBETH at the end August. The Liquid Collective’s enterprise-grade token will be called LSETH and KYC/AML will be standardized into the protocol.

“Liquid Collective, a multi-chain liquid staking standard, seeks to address the need for the highest guarantees of security and KYC/AML checks for institutions, Web3 native enterprises, and other regulated entities to meet regulatory obligations and best practices while unlocking new liquidity and increased capital efficiency on leading proof of stake blockchains,” Alluvial’s blog post details.

Mark Forscher, Alluvial’s CMO, believes the Liquid Collective protocol and brand will have a significant impact. “Liquid Collective’s brand symbol is a group of liquid droplets repeated in a circle. A graphical representation of ‘one from many,’ the resulting shape is harmonious and balanced with a star formed in the middle, symbolizing the formation of Liquid Collective and our intended impact. The sum is greater than its parts,” Forscher remarked on Tuesday.

This story contains tags
Alluvial. CBETH. Coinbase. Coinbase Cloud. Enterprise-Grade Liquid Staking protocol. ether. Ethereum. Ethereum (ETH), Figment. Kiln. Kraken. KYC/AML. Lido. Liquid Collective. Liquid Foundation. Liquid Staking. LSETH. Mark Forscher. Staked. STETH.

What do you think about Alluvial’s announcement introducing the Liquid Collective and Liquid Foundation members? We’d love to hear your opinions on this topic in the comment section.

Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 6000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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