Karak Network Launches MKR Token Restaking Feature
In Brief
Karak Network has rolled out a new feature that allows native staking for the MakerDAO MKR token, giving users the opportunity to restake their MKR and earn 1x Karak XP.
Multi-chain staking platform Karak Network Karak Network has announced its intention to establish native staking capabilities for the MakerDAO MKR token, spotlighting a commitment to the long-term vision of NewGovToken. Users can now engage in restaking MKR to acquire 1x Karak XP.
Karak Network has introduced its innovative concept of restaking, creating a robust security layer designed to facilitate easy decentralization across any blockchain and asset. By partnering with MakerDAO, Karak aims to fortify security measures for both MKR and NewGovToken, while providing liquidity and attractive rewards for the MakerDAO community.
The MKR and NewGovToken not only provide utility and rewards for stakers but also have the potential to become essential assets for developers creating Distributed Secure Services (DSS) on the Karak platform. These tokens can be leveraged to enhance the security, scalability, and decentralization of the networks involved.
With the new native staking feature for MKR, holders can deposit their MKR tokens into the Karak ecosystem and earn Karak XP in return. In the near future, MKR that is staked on Karak will play a critical role in securing and decentralizing DSSs, offering holders the possibility of receiving additional rewards on their staked MKR tokens. This mechanism allows token holders to utilize an external consensus setup created by Karak to earn rewards through restaking.
Karak Network is set to initiate NewGovToken Activation, enhancing rewards and utility for the Maker community
Additionally, to boost the rewards and utility for the, Karak will be implementing restaking for NewGovToken Activation. This initiative will aid in powering, securing, and decentralizing new DSSs developed on Karak. Activated NewGovTokens will serve as a valuable resource, allowing Karak to merge rewards for the Maker community, enabling them to earn restaking rewards alongside the native Activation benefits. MakerDAO community Karak is recognized as the only Layer 2 initiative that integrates risk management, staking, and AI frameworks. Its innovative restaking layer facilitates the provision of cryptoeconomic security for various assets and opens up exciting avenues for developers to design new infrastructures. This setup enables protocols to access trust networks more easily, minimizing the challenges associated with securing new ones. Importantly, it also eliminates the need for protocols to reward validator sets through dilutive means, allowing for a transition to scalable, affordable security measures.
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