StakeStone (STO)

StakeStone is a pioneering omnichain liquidity and staking protocol designed to enhance user on-chain experience. It removes liquidity fragmentation and opportunity costs for users while simplifying the process of users' on-chain acquisition for blockchain networks and providing web3 developers with the comprehensive toolset to offer users a wider range of yield opportunities. 

This is mainly achieved by the multiple tools, some of which are already running and some still under development by the team, including:

• $STONE LRT 

$STONE is an Ethereum LRT, similar to the Swell’s $rswETH, or Ether.fi’s $weETH, allowing users to earn yield from Ethereum staking while still having full control of their funds. However, unlike most LRT protocols, the StakeStone Ether restaking protocol aims to integrate a diverse range of chain networks, thus removing opportunity costs and liquidity fragmentation for Ethereum restakers.

• $SBTC and $STONEBTC LRT

Addressing two main issues related to Bitcoin in the current blockchain space, liquidity fragmentation and lack of utility, Stake Stone developed $SBTC and $STONEBTC tokens. $SBTC serves as a tokenized version of Bitcoin, designed to deliver greater omnichain liquidity, thus enabling users to seamlessly bridge Bitcoins across various chains. 

Meanwhile, $STONEBTC is a yield-bearing liquid BTC, powered by emerging yield sources, such as Bitcoin staking and restaking networks. Although the docs don’t clarify which one of the AVS services the platform will use to derive its yield, the StakeStone team claims it is currently powered by Symbiotic Finance, similar to Swell’s swBTC. 

• Stone vaults (under development)

StakeStone vaults empower users to deposit their $STONE assets into specific pools to receive back liquid vault tokens representing a user's position in those pools. Each vault allows users to earn yield from the best DeFi strategies or earn rewards, and points, as well as participate in campaigns and airdrops, 

The vaults will be created either via a Stone crypto protocol itself or by trusted and verified partners of the platform while providing users with all the key stats and metrics to help users make more informed vault depositing decisions. 

• Stone.pay (coming soon)

Stone.Pay is a revolutionizing feature of the StakeStone app, allowing users to pay transaction fees across multiple chain networks in $STONE tokens, significantly boosting the on-chain user experience.  

Read more info about the protocols’ main features in its docs.

🪙 StakeStone token: As of November 2024, the project hasn’t confirmed any plans to conduct a release or airdrop of its native token, as well as what the potential utility of that token might be. However, considering the previous experience of LRT protocols like Renzo, Swell, or Ether.fi, and the potentially upcoming altseason, it is very likely that the project will launch its own governance token and reward active stakers with the StakeStone airdrop. 

It currently runs a points-farming campaign, incentivizing users to earn points by restaking $ETH on various L2s. Hence, CoinLaunch completely analyzed the StakeStone crypto project and prepared a comprehensive list of its pros and cons to help you decide whether you should join the StakeStone airdrop or not:

✅ StakeStone pros:

• Innovative concepts and designs of the product, with a big utility potential;
• Multiple top-tier security auditors have reviewed the platform;
• Very high PR score;
• Decent userbase, with over 150K+ stakers;
• High Growth Marketing performance;
• Above-the-average SMM, and SEO scores;
• Big network of top-tier investors, which collectively allocated over $22M to the project;
• Binance Labs has invested in the protocol twice;
• Very large network of ecosystem partners;
• One of the team members (CMO) has rich work experience at Binance and Bybit.

❌ StakeStone cons:

• No tokenomics;
• No roadmap was presented by the team;
• Low Influencer Marketing performance;
• Very low Marketing Infrastructure score;
• No work experience at top-tier companies among other core team members.