Swiss crypto-native pioneer, Bitcoin Suisse, has joined Liquid Collective to expand access to Ethereum liquid staking. This will enable its private and institutional clients to stake Ethereum through Liquid Collective, a decentralized protocol trying to increase Ethereum liquid staking adoption among institutions.
Bitcoin Suisse announced this partnership in a Twitter post, making them Liquid Collective’s first Swiss-incorporated integrator.
Bitcoin Suisse stated that this move was due to the increased demand by its private and institutional clients to participate in staking to earn network rewards. Also, the increased liquidity that comes with liquid staking and capital efficiency were contributing factors.
Its clients can stake Ethereum through Liquid Collective and use the receipt token generated by the Liquid Collective protocol (LsETH) to participate in Web3 and decentralized finance (DeFi).
According to a statement by Bitcoin Suisse,
“Liquid staking represents an alternative to the known staking mechanism, where a user’s tokens are locked up for a period of time to contribute to the security of Proof-of-Stake blockchains and earn network rewards for doing so.”
Bitcoin Suisse noted that liquid staking is much better than the traditional method of staking, which undergoes bonding and unbonding periods. In the former, token holders receive a receipt token after staking. This represents their proof of ownership and the staking rewards accumulated.
Also, the receipt token can be transferred, stored, traded, and utilized in DeFi or decentralized applications (dApps). This provides clients with increased liquidity and capital efficiency.
It is worth knowing that the Liquid Collective comprises other leading Web3 teams such as The Liquid Foundation, Alluvial, Coinbase Cloud, Figment, Kiln, and Kraken.
