We’re thrilled to announce the launch of liquid staking in the Crypto.com App, which enables users to benefit from staking rewards and capture market opportunities at the same time.
At launch, Crypto.com App users can make the most of liquid staking with Ether (ETH) using Crypto.com Wrapped Staked ETH (CDCETH).
About Liquid Staking
Liquid staking is an innovative solution to the problem of illiquidity for staked assets, where users cannot access their crypto when it’s earning rewards or locked by the protocol during the unbonding period.
With liquid staking, users can wrap their staked assets for a tradeable receipt token. The receipt token can also be redeemed back for the staked asset at a likely higher conversion rate that accounts for the accrued staking rewards. Learn more about liquid staking in this University article.
Liquid Staking in the Crypto.com App
Crypto.com Staked ETH (CDCETH) is available at launch. Users can instantly wrap their staked ETH, even when it’s undergoing unbonding, for CDCETH without conversion fees.