LiSuify

What is LiSuify?

LiSuify is a liquid staking platform for the SUI protocol, enabling users to stake their SUI or StakedSui object to wrap with a liquid token name liSUI return to the user. The staked SUI tokens are delegated across multiple validators to contributing to the SUI protocol’s Proof-of-Stake (PoS) consensus mechanism and earning staking rewards.

As rewards are earned, the amount of the staked SUI tokens increases. This is reflected in the price of the liSUI token, which represents the staked position.

What is liSUI?

liSUI is a liquid staking token that represents staked SUI assets on the blockchain. Its primary function is to allow individuals to stake their SUI tokens without losing access to their liquidity.

Why is liSUI Important?

liSUI is crucial for several reasons:

  • Liquidity: liSUI provides liquidity to staked tokens, allowing users to freely participate in DeFi activities while their tokens are staked.

  • Flexibility: With liSUI, users can instantly swap their staked tokens for their underlying assets, eliminating the need for a typical unbonding period.

  • Diversification: liSUI allows users to spread their stake across multiple validators in the stake pool, reducing the risk associated with relying on a single validator.

In conclusion, liSUI is a powerful tool for maximizing the benefits of staking while minimizing its drawbacks. It offers a solution that enables users to stake their tokens, earn rewards, and maintain the flexibility to participate in other DeFi activities.

liSUI Use Cases

liSUI has have several use cases, including:

  • Staking to Earn Rewards: Users can stake their SUI tokens as liSUI to earn rewards while maintaining liquidity.

  • Trading on Decentralized Exchanges: liSUI can be traded on various decentralized exchanges, providing users with more options for buying and selling.

  • Participating in Governance: liSUI holders can participate in governance decisions, influencing the future direction of the protocol.

  • Collateral on a Lending Platform: liSUI can be used as collateral on a lending platform, allowing users to borrow tokens and still getting the staking rewards.

What is StakedSui object?

The StakedSUI object, or StakedSui, is a receipt for a user’s staked position in the SUI network, which operates on a Delegated Proof-of-Stake (POS) consensus mechanism. When a user delegates SUI to a validator, they receive a StakedSui object that accrues rewards with every epoch advancement. This object can be redeemed at the user’s discretion.

Following the SIP-6, The StakedSui is now allows for the wrapped token received from staking to be traded, transferred, and also wrapped into another object. Adding this functionality allows for developers to offer liquid staking as well create apps that offer financial products that use the liquid staking token.