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Summary of sKLAY
- sKLAY is an ownership and liquidity token for KLAY staked through KLAYstation.
- It remedies liquidity limitations and grows Klaytn’s DeFi ecosystem.
- sKLAY injects direct liquidity and allows holders to utilize assets for DeFi revenue opportunities.
- Token gives KLAY owners staking through KLAYSTATION power over staked assets.
- Reward sharing is proportional to sKLAY held, and unstaking is based on sKLAY.
- sKLAY adheres to KCT standard, enabling efficient transactions and withdrawals.
- sKLAY acquired through delegating has the same value as corresponding KLAY.
- sKLAY
About sKLAY: Empowering the Future of Decentralized Finance
sKLAY is an innovative ownership and liquidity token, issued via smart contracts to KLAY stakeholders who utilize KLAYstation, the official staking platform of KLAY, thereby effectively addressing liquidity constraints and fostering the growth of Klaytn’s thriving Decentralized Finance (DeFi) ecosystem.
As a liquidity token pegged to the value of staked KLAY, sKLAY not only infuses the current Klaytn ecosystem with direct liquidity but also empowers sKLAY holders to leverage their assets for a diverse range of revenue opportunities presented by Klaytn’s DeFi protocols, all while maintaining a staking position. At its essence, sKLAY is a token that grants KLAY owners staking through KLAYSTATION the authority to exercise control over their staked assets. The block verification rewards received by nodes will be distributed proportionally based on the amount of sKLAY held. Furthermore, the unstaking process will also be facilitated through sKLAY.
sKLAY conforms to the Klaytn Compatible Token (KCT) standard, thereby facilitating seamless transactions. This enhances asset efficiency by enabling withdrawals at any time, bypassing KLAY’s 7-day unstaking period. Notably, while sKLAY obtained through delegation is essentially equivalent in value to its corresponding KLAY, sKLAY acquired through staking KLAY may exhibit a disparate market price at the time of trading. This disparity arises from the time-difference discount rate applied to the market’s supply and demand, as well as the conversion rate augmentation resulting from staking compensation.
Notwithstanding KLAY’s inherent value and volatility, sKLAY emerges as a paragon of reliability, providing a steadfast source of liquidity within the Klaytn network, particularly in terms of asset valuation. Specifically, it holds immense significance for users who have opted to stake KLAY, as it enables them to capitalize on a diverse array of investment opportunities presented by DeFi services, either by injecting additional assets or liquidating staked assets.