The NEM Show | Token wrapping for the NEM blockchain

in the crypto world
innovations happen every day not long ago we used to think that if you had
some staked tokens you couldn't do anything else but
wait for a change in its value while the tokens were static so to speak
liquidity mining changes all that with this feature
traders are rewarded for providing liquidity while they stake their own
tokens in a platform such as StakeHound that's why today we present a very well
known face in our ecosystem Albert Castellana CEO of this company
which is now an associate of NEM that wraps the same token into a DeFi
friendly way opening multiple opportunities for our
XEM holders and soon XYM too yes there's literally billions of
dollars in the crypto economy most of that is in the form of stakes or
in DeFi investments it's huge bucks we're talking about here
now how do we get those into the real world economy
and most importantly how do we get XYM and XEM into that game to tell us about
that we today present Albert Castellana
CEO of StakeHound joining us in this NEM show from Spain welcome Albert
bienvenido to the NEM Show gracias Alexis gracias thank you for having me here no no no no
it is all our pleasure of the whole community to
have you here now Albert lately the hot topic the
currently hot topic is the liquid stake which you of course
as StakeHound are bringing to our ecosystem
can you please tell us a bit about StakeHound before we enter into
that topic yeah absolutely so um to give you a bit of context right
like you we've seen how the last few years
there has been like you know this movement of stake right like
um NEM is one of the first kind of innovators in the space
but with a proof of importance and like that's basically a proof-of-stake
mechanism as well and what we've seen lately is that
because of this new hot thing called DeFi we're going to be talking about later
is is actually booming over the last few months what's happening right now is
that there's a fundamental competition between those
those two right like people have to be choosing do i want to be participating
in staking do i want to be you know backing the networks that i love do i'm
going to be running nodes pretty much the same
as mining or do i want to be participating in
this new hot thing that's called DeFi right that's like booming there's people
that can make a lot of money from yield farming and lending and borrowing and
all these different things right so because of this fundamental
competition between those two what's happening is that uh this trend
of liquid staking what's going to be happening is that
it's going to be in enabling both of them at the same time right you're going
to have a representation of a staked asset
that is brought into the DeFi space so that it can be
transferable while it's still earning rewards right
so the reason why we do staking is because we want to be
securing the networks right and in order to secure the networks you have to have
some stake locked up that stake is actually uh
what's what's helping the the network agree on who should be like uh talking
next right who should be voting next that is very important for
network such as NEM at the same time what you want is to be
able to use that capital while it's actually securing the network
at the same time that's what we're doing we're kind of
reaching both worlds so long story short it will be like
having the best of both worlds right that's correct yes i mean until now like
people were just like thinking how can i get a better
yield right so you can get a lot of yield if you do staking
and you can get a lot of yield if you do DeFi can you get
yield by staking and then using that while
earning yield on DeFi how do you foresee NEM working with NEM's
with with StakeHound okay what benefits do you think StakeHound will bring to
our community there's quite a few actually so if you
look right now at the numbers there's quite a lot of uh
super nodes running right there's about 400 super nodes
running each one of those super nodes require a capital locked
of 400 thousand dollars about that like three hundred seventy thousand dollars
at this point in time right that's actually a lot of capital that means
that a lot of people can't participate in that right
that means that anyone that doesn't have four hundred thousand dollars to lock on
a super note they can get as much yield as if they
had a super node right so that is that is a very strong thing
there is no motivation for people to hold on to their XEM and
basically try to see if they can get to that point right what
we're trying to do is we're trying to democratize that a little bit more
and we're going to be including more people in here so essentially
a StakeHound is essentially a pool right where you're sending
your XEM you're sending the XEM in and then we give back to you
a staked XEM now staked XEM is basically an ERC-20 token that's a token on
Ethereum that has the capacity to be distributing
the rewards as they come in right so we get the XEM
and then we stake it and then when we get everything every single time that we
get a reward we distribute those rewards among the
holders of the staked XEM right so you're talking about some sort of wrapping right yeah that's that's what that's
really about we're essentially essentially wrapping
the XEM on an ERC-20 right now you i'm sure
you've heard about uh TrueUSD or or Tether
right or you have seen something like Gravity DRC this is essentially the same
but for XEM right and the the key thing here is like
for us for the benefits right the thing here is that now while people
couldn't participate in the super node program even if you have ten
thousand XEM you will be able to buy a slice say you know you're
gonna you're gonna buy ten thousand staked XEM
and then is essentially as if you had that first that
portion of the super node right other benefits are essentially like
participating DeFi right so it's not just like okay let's make it so that
staking is more inclusive within the NEM ecosystem but actually now you'll
be able to participate in DeFi what can you do in DeFi well
if you have a supernode for example now you're going to be able to
send it into a lending platform such as Aave and you're going to be able to
borrow against it right so imagine that you have a loan
and the collateral the yield of the collateral because it's
actual staked tokens is actually paying for the interest of
the loan and of course it opens it opens the door for
many other formats like uh uh uh it comes to my mind
uh Uniswap for instance yeah totally or many others are jumping into that zone we've seen how Uniswap has proven how
powerful it is to allow the communities of specific projects to help the
projects by providing liquidity right so liquidity is a very important
thing you want to be able to get in and out of any project knowing
that there will be other people that will be trading it when you want to
get out essentially right and that is something that you Uniswap
enables very very effectively through the use of a
liquidity pool right um now on like Uniswap right now is the
second biggest exchange in crypto has more daily volume than Coinbase itself
that's Uniswap right the way that it works is that anyone can just go in and
can deposit two tokens can deposit say staked XEM
and Ether for example and then what's going
to happen is that when you're depositing those assets anyone can come in and buy
one or the other right essentially you're enabling the market you don't
need to have an order book based exchange with its inefficiencies if you
have a community that is providing liquidity and what's
going to happen here is that we're going to be
helping people incentivizing people for providing liquidity and
creating this market enabling this market and why would they do this well
essentially because they're going to be getting the fees
from all these different trading right so now you can essentially
we're democratizing what already like be like like binance or coinbase are so
exchanges why don't you kind of be a part of an
exchange for the communities that you for the tokens that you love
essentially like enabling those tokens and and further
you know helping their their trading essentially
that that applies to XEM actually right how about XYM what can we expect
from Symbol is this going to be the the the
the part of the same alliance can you can you please explain me that of course
for sure yeah so essentially what what StakeHound
is doing is it's it's creating all these different
assets right and what we're going to be doing is by the
time that the opt-in kind of finishes i mean well it doesn't finish but by the
time that kind of mainnet comes out what's going to happen is that we're
going to be distributing the staked XYM to the staked XEM holders as well
right so essentially after the whole period you will
you will have both tokens the staked XEM and the staked XYM
being live in DeFi you're going to be able to provide liquidity against them you're
going to be able to provide liquidity for staked XEM
and staked XYM in a single liquidity pool means that anyone
will be able to trade much easier from one to the other
um there's going to be a bunch of things that will be possible thanks to having
both tokens uh live at that point right um
essentially yeah you're gonna see different different
operations in there what's interesting to me is seeing like
all the different products that are being built on DeFi right like DeFi
is very very fast moving like people can come in and can build new protocols
that that allow for different things right you can do something like token
sets for example where you can have one token that represents multiple things
it's like a basket of different things right
so you could have a token that essentially has inside
you know fifty percent staked XEM fifty percent then if staked XYM and then you
have kind of an index of the whole you know name ecosystem right
so all these different kind of things that we'll be able to do through
through DeFi now will no longer become like isolated from from uh from
NEM will actually NEM will be in there right like we'll have all these
different tools we'll be able to participate like
all these other ERC-20 tokens in the same footing
essentially well you you're going to have
an AMA with Iain Wilson with our Iain Wilson the CFO
of NEM Group about this very same thing of the alliance
with StakeHound what can we expect there
so essentially like what we want to do is by
for the AMA we would like to invite the community to kind of join us right
and like if they have any questions i mean this is a complex system right
we're talking that first DeFi is very nascent and like
it's been evolving very quickly so probably there's going to be a lot of
questions on what type of things will you be able to do
let's staked XEM or staked XYM um then apart from that like we would like to do
is basically invite the community to ask us anything that that may be you
know like relevant to this right but so essentially
there's going to be a lot of questions done okay what does it mean to actually
provide liquidity that's more on the DeFI side of things than on the
StakeHound side of things but at the same time how can i actually move
from my staked XEM back to XYM for example right
like how does this operate like all these things i'm sure like we're going
to be covering them so inviting the community to participate
there's another thing that we'd like to highlight which is that uh basically as
of since yesterday essentially we started
this testnet uh program where anyone can just like look uh i
mean you can see on our channel at StakeHound
uh like you know a link with kind of a document that explains
how to do this but essentially as of today you can already go into
this into this website and do the tests yourself like you can
get some staked XEM you can trade them you can provide liquidity for them kind
of all the things that you can do on
DeFi you can try them on the testnet
and then basically once a day or a couple of times a day we do these three
basis where you can see that actually your balance is changing as the
fictional rewards are coming in essentially
right so yes anyone to ask anything on the AMA
and like participate on the on the testnet and of course
we invite all the community to to to join this AMA
and ask all the questions i know you you have plenty
of them about how to join uh of course NEM and StakeHound
as a bridge to the DeFi movement i also want to invite you all the
community to join all of our social media
and tell us what do you think and who do you want to see
in the NEM show i have to thank uh Albert for his time here with us and
of course ask him if he'd be so kind to tell us
some words to our community his community because he's
an important part of the early days of NEM yeah i mean i'm very happy to see
where NEM has has gone right like i i i joined very
early on in my like crypto career and i've i've seen it go like
through great lengths and like the understanding now and the community that
has been building is absolutely amazing and outstanding right um i'm
very happy to be able to to participate again and to be able to help
and yeah i'm looking forward to seeing like how we can work together again
how we can how the community understands this new product that we're trying to to
bring to the market how the community can like start
like being engaged with the DeFi space right what we've seen lately is that you
know like uh it's it's difficult to understand
the DeFi space especially if you know that
it doesn't immediately touch your kind of your ecosystem right
what we want to do is we can we want to be educating people
so that people understand okay what is DeFi what are the benefits of this some
things are good some things are bad and like you know all these like roads
will be very very interesting i'm really looking forward to this and i could
be happier and more thankful you know for for you and
the NEM group to have like given us this opportunity to be able to
work together through this effort not at all Albert
thank you for being here well this that's all for this episode of the NEM
Show my name is Alexis Trujillo and of course stay tuned for more
news on the NEM ecosystem see you all guys thank you albert muchas you

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