unlock your yield upfront instantly, potential LSD sector gem/ good tool?
🐏In the thread
What is Flashstake
How does it work
What can you do with it
Opportunities & challenges to overcome
But first, those 90 people that almost read my email daily
📍What is Flashstake?
Flashstake allows users to receive yield on deposits assets instantly with a fixed rate over a set duration by the users.
📍How does it work?
There are two type of stakers in the protocol,
Flashstakers select the length of their “stake” and collect upfront fix yield. They can collect 100% of their initial deposit once by the end of their
3 key components of “normal” stakers
Stakers can stake for ftoken.
ftoken will represent a % of the total pool of yield.
Normal stakers can stake & unstake anytime.
Users will get ftoken of the chosen strategy upon staking and they can burn (redeem/unstake) their ftoken for their % of the yield pool anytime
The total pool of yield = yield generated from strategy - Yield given to flash stake user.
📍What you can do with it?
✳️Unlock instant yield
If your stablecoin bag was UST or locked in FTX like me.
You can stake your ETH and get instant yield for liquidity. This is very different from using my ETH as collateral to borrow stable as im only giving up potential extra yield instead of paying interest to your loan (although you can argue you can get more liquid from borrowing)
✳️Speculate on yield
Essentially you can use “flashstake” to lock in yield and “Normal” stake to speculate yield going up indirectly.
If you think the strategy’s yields are going down, you can flashstake to lock in a higher rate.
If you think the yield is going up you can “normal” stake and earn the “extra” yield that the flashstakers given up for instant yield unlock
✳️ETH LSD narrative, as one of the biggest events coming up, flashstake is definitely within this sector.
✳️With ETH being able to unstake after the Shanghai upgrade, this potentially opens up various strategies with high capacity for stakewise to build on top.
✳️Stakewise is a framework that can be build on any strategies with more users, the team can built actually build on
Leverage st ETH strategy
Glp strategy (stakewise version) ?
Flashstake for fundraising & liquidity mining? (mention in their medium )
Flashstake heavily rely on yield source, ideally the yield source needs to be sustainable with high capacity.
I’d imagine to bootstrapping a new pool on stakewise requires a lot of “normal” stakers, given the yields on DeFi market right are limited, there are limited strategies that stakewise will be able to build on.
Stakewise is a good and simple yield tool. The team is solid, extremely quick and responsive on discord and one of my favourite kol @thedailygwei seems to be a fan of it.
The team seems to have chosen to focus on educating “flashstake” users.
As someone that likes to understand the whole protocol before aping it took me a while + help from @ZacharyDash ( responsive nice guy) in discord to understand the concept.
After liking & understanding the protocol i started to explore how can i invest into flashstake and realise the utility or function of the token is not listed on their gitbook or their website.
I’d love to find out more about the protocol in the future, from the style of their gitbook they are definitely true builders but potentially focused on the technical too much.
It might take some time to explain to the general crypto community but I always like true builder teams and I think this might be a hidden gem.
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