WaterNeuron is a liquid staking protocol designed for the Internet Computer network. Staking your ICP becomes straightforward and efficient.

Liquid staking offers a more capital-efficient method of staking by allowing you to maintain exposure to ICP staking rewards while keeping your tokens liquid. This approach simplifies the staking process, as it removes the need to select specific validators to maximize rewards.

What are we solving?

  • Capital Efficiency: DeFi is still having a hard time on the IC partly because any DeFi app needs to compete against the juicy 8 to 15% ICP that can be generated by locking your ICP in a neuron. Generating these kinds of returns is really challenging for any dapp. To fix this users are now able to use nICP instead of ICP on DEXs and else in order to expose themselves to the yields they would get by locking their ICP + the yield they can get from the DeFi app.

  • Governance Decentralization: Another big pain point of IC DeFi is the centralization of the voting power. By design the NNS can vote to upgrade any canister, even though it's not necessarily a declared controller. This problem could fade away if DFINITY didn't have so much voting power (as most neurons follow DFINITY). WaterNeuron is poised to become an alternative to follow to earn maximum rewards as the known neuron will have a 100% voting rate with educated votes when needed. Having a counterbalance to DFINITY is crucial to ensure the decentralization of the Internet Computer protocol.

Explain Like I'm 5 (ELI5)

With traditional growing, your watermelon plant produces fruit every season. But with liquid growing, you get a voucher for your plant's growth, which you can swap for more watermelons or other fruits while your plant keeps producing. It's like having your watermelon and still being able to indulge in other flavors too!


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