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On Tuesday, liquid staking firm Alluvial revealed that a consortium of organizations will collaborate on the “first enterprise-grade multi-chain liquid staking protocol.” Alluvial’s announcement detailed that the protocol will be known as the “Liquid Collective” and cryptocurrency exchange Kraken has joined as a founding member.
In a blog post published by liquid staking company Alluvial, the startup introduced its new enterprise-grade multi-chain liquid staking protocol called “Liquid Collective.” The Liquid Collective also has a Liquid Foundation, which includes participants such as Kraken, Coinbase Cloud, Staked, Kiln, Figment and Alluvial. “[The] Liquid Collective will be governed in a decentralized manner by a broad and dispersed community of industry participants, Alluvial’s announcement on Tuesday said.
Liquid staking has been a prominent trend in the world of decentralized finance (defi). Lido Finance is the largest liquid staking provider today, and the wrapped ethereum token Lido offers is called lido staked ether (STETH). In late August, Coinbase announced the launch of its own floating stake token called CBETH. Liquid Collective’s enterprise-grade token will be called LSETH and KYC/AML will be standardized into the protocol.
“Liquid Collective, a multi-chain liquid stake standard, seeks to address the need for the highest assurances of security and KYC/AML checks for institutions, Web3 native entities and other regulated entities to meet regulatory obligations and best practices while unlocking new liquidity and increased capital efficiency on leading proof of blockchains,” details Alluvial’s blog post.
The Liquid Collective brand and protocol will be effective according to CMO of Alluvial, Mark Forscher. “Liquid Collective’s brand symbol is a group of liquid droplets repeating in a circle. A graphic representation of “one from many,” the resulting form is harmonious and balanced with a star formed in the center, symbolizing the formation of the Liquid Collective and our intended impact. The sum is greater than the parts, Forscher said on Tuesday.
What do you think of Alluvial’s announcement introducing Liquid Collective and the Liquid Foundation members? Let us know your thoughts on this topic in the comments section below.
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