How It Works

Protocol Architecture & Functionality

Mission

Ike is a Liquid Staking Protocol. Our mission is to boost the GDP of Proof-of-Stake blockchains by allowing users to participate in on-chain activities while also benefitting from the yield-bearing staking that secures the blockchain. We do this by providing stakers with a liquid token which is backed by the blockchain's staked native gas tokens. We call this a Liquid Staking Token, abbreviated as LST.

Reminder: the Gas Token of Aleph Zero is AZERO, and the Liquid Staking Token of Ike is sA0.

This allows holders of AZERO to participate in on-chain activities using the sA0 in place of their AZERO tokens.

How it works

Ike improves on Delegated Proof-of-Stake by allowing users to participate without themselves having to find and choose a validator to which to delegate. To accomplish this, Ike pools users’ AZERO tokens together and delegates them across a set of participating network Validators for staking, and gives those users sA0 tokens (the collateral) that can be used to redeem their staked AZERO at any time. The protocol maintains a decentralized list of participating validators, routes staking requests to them, and facilitates redemption requests on behalf of the user.