What is Portara?

A pioneering solution in the blockchain world - Blockdaemon is introducing the concept of institutional liquid staking.

Portara is the 1st institutional liquid staking solution, providing liquidity for your staked assets by generating a receipt token.

Challenges

Proof-of-Stake (PoS) consensus mechanisms have emerged as a popular alternative to Proof-of-Work (PoW), upon which traditional blockchain networks have been built. Instead of engaging in highly complex and energy-consuming computations in PoW, PoS leverages each blockchain validator’s stake of native network tokens to validate transactions honestly and efficiently to secure rewards via “staking”.

Users who participate in staking as a validator typically secure network rewards as an incentive for securing the network. However, traditional staking has presented the following challenges:

  • Requires a minimum amount of tokens to be locked up - Ethereum requires 32 ETH to be locked up at a time.
  • Capital inefficiency, as assets locked up in staking, cannot be used for other purposes, such as collateral for loans on lending marketplaces and other use cases in DeFi.
    • These locked assets cannot even be traded without first unbonding.
  • Bonding and unbonding periods are variable and could span up to multiple days, sometimes weeks, which means staked assets could be subject to price fluctuations with no liquidity.

What is Liquid Staking

Liquid staking emerged as the solution to the above issues:

  • Stake ETH in a collective pool.
  • No minimum deposit requirements. Users would no longer need to deposit in increments of 32 ETH.
  • No need for managing validators or hardware.
  • Staked ETH remains tradeable (exchangeable) while still earning rewards.
  • Users would no longer have to choose between staking and DeFi, as their liquid staking token can be used as a proxy for their staked position.

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Info:

sETH-h represents Portara's liquid staked ETH tokens, while rETH-h specifically represents rewards. Learn more in the "Token Guide" section.

In summary, liquid staking is similar to native staking in depositing your assets to secure the network. You can immediately request to turn your staked asset into native ETH.

👋 Need Help?

Contact us through email or our support page for any issues, bugs, or assistance you may need.