MoonRock Finance Launches Liquid Staked Ether Index Token
Jan. 20, 2023 / MoonRock Finance, a provider of cryptocurrency index tokens, today announced the release of its Liquid Staked Ether index token (ticker symbol: LSETH). The LSETH index token provides a basket of the leading liquid Ether staking rewards tokens. For users interested in diversified ETH yield, LSETH provides a simple, one-click solution with zero fees.
Staking has emerged as an attractive way to earn passive yield on ETH. One disadvantage of staking however is that it requires users to lock their tokens, making them illiquid. Liquid staking is a recent innovation that removes the need for a lock-up. As a result, liquid staked ETH tokens have exploded in growth to over a $9B market capitalization.
The LSETH index token provides a simple solution to get diversified ETH yield. LSETH contains an equal-weighted basket of the leading liquid staked ETH tokens: Lido Staked ETH (wstETH), Rocket Pool ETH (rETH), Staked Frax ETH (sfrxETH), Coinbase Wrapped Staked ETH (cbETH), and Ankr Staked ETH (ankrETH). As more liquid staking solutions come to market, the LSETH index will be automatically updated using on-chain governance.
“We’re delighted to announce the launch of our liquid staked ETH index token, LSETH,” commented JK, the Founder of MoonRock Finance. “We’re particularly happy to offer this product with zero fees. We hope that LSETH provides users with the benefits of index diversification as well as help grow the liquid staking ecosystem. ”
To spread awareness of LSETH, there will be a learn & earn program on the Layer3 platform and liquidity mining incentives on xToken Terminal.
The LSETH token is available on the Uniswap decentralized exchange.
About MoonRock Finance
MoonRock Finance was founded to help people invest in cryptocurrency passively so they can relax and enjoy their financial freedom. With MoonRock index tokens, holders can get broad exposure to a basket of cryptocurrency tokens with the convenience and simplicity of a single token. Products include the CPI token which is designed to track US price inflation, JPG which gives broad exposure to the NFT market, and LSETH which is an index of leading liquid staked ETH tokens. For more information, visit www.moonrock.org or email press@moonrock.org
About Layer3
Layer3 was founded in 2021 as a web3 user acquisition and retention solution that helps teams acquire the actions & users that matter to them. Their no-code tools lets customers create milestones for new or returning users through any set of on-chain actions.
Using powerful storytelling techniques (Quests) they've driven 10M+ on-chain interactions across top dapps. Today, they serve web3 customers such as Coinbase Cloud, Hashflow, Slingshot, Stargate, Aave, 1inch, and more. For more information visit www.layer3.xyz
Disclaimer
This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice. Each purchaser of a MoonRock product should consult with his or her own legal adviser and tax adviser before purchasing such products. Digital assets are volatile and risky and may not be appropriate for your financial situation or investment goal.
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