cryptonews.net
Meta Pool, a multi-chain liquid staking service is deploying a canister on the Internet Computer Protocol blockchain, with the goal of adding more utility for the ICP token to support Decentralized Finance platforms.
Meta Pool’s Liquid Staking platform currently supports several Proof-of-Stake blockchains such as Aurora, Ethereum, NEAR, Solana and Q Blockchain. It has now incorporated a liquid staking token to its platform called staked ICP (stICP) — this token allows anyone to deposit their ICP tokens into the service and mint stICP which enable´s users to accrue the rewards from governance system from the Internet Computer Protocol blockchain, which is enabled by using chain-key cryptography.
Lucio Tato, Meta Pool Co-founder, commented: “Our goal is supporting the ICP ecosystem through DeFi protocols, in our case with a liquid staking token representing the rewards generated by an auto compounding digital savings account in the form of stICP. We want to explore the full capacity of the Internet Computer Protocol .”
Meta Pool’s mission is to get early exposure of the liquid staking service to the ICP ecosystem in Frontier Markets, which are regions such as Africa, Latin America and South East Asia. With a focus on a global outreach, Meta Pool which operates under a Decentralized Autonomous Organization (DAO) structure understands the importance of exposing Decentralized Finance (DeFi) to a broader audience for massive crypto adoption, Frontier Market regions have the urgent need for basic financial tools. The staked ICP (stICP) token represents a tool that will allow anyone to hedge against inflation in regions where their local currencies face volatility and economic uncertainty.
Meta Pool’s new LST — Liquid Staking Token — stICP allows users to earn staking rewards without locking assets or maintaining staking infrastructure. ICP users can stake tokens and receive tradable liquid tokens in return that will allow for more exposure into DeFi protocols being built on top of the Internet Computer Protocol blockchain.
The stICP fees being accrued by the protocol will be integrated into the Vote to Earn platform of the Meta Pool DAO, being integrated in Q2, 2025. This program is distributing around $100,000 USD in monthly staking rewards to governance participants which should increase with the deployment of stICP canister into the Meta Pool DAO governance platform.