August 09, 2023 - 2 min read
Supra is thrilled to announce its partnership with Volo, a prominent player in the DeFi industry known for its liquid staking protocol. Volo operates the Volo DeFi Hub—a complete suite of products primarily designed to maximize the utility of the liquid staking DeFi platform token, ankrSUI.
By staking SUI through Volo Staking, users obtain instant liquidity through ankrSUI tokens, eliminating the traditional need for locking up tokens within the SUI network. This method allows users to leverage the value of their staked tokens to earn multiple layers of rewards on DeFi platforms, significantly increasing their ROI potential.
The platform stands out for its revolutionary concept that allows users to stake their SUI tokens while maintaining liquidity. Volo’s approach enables users to gain liquidity and flexibility, actively participate in the DeFi ecosystem, benefit from decentralized governance, and trust in experienced node operators.
As a result of this partnership, Supra will extend its oracle services to Volo for pricing and Volo’s liquid staking product, ankrSUI. This partnership will streamline and enhance the adoption of LSTs within the SUI DeFi ecosystem. This collaboration signifies a step forward in driving mass adoption and inclusivity in the DeFi space.
Joshua D. Tobkin, CEO and Co-founder of Supra, commented:
“We eagerly anticipate integrating our oracle services to augment the efficient adoption of LSTs. Undeniably, our expertise in oracle services will significantly aid them in enhancing the integration of LSTs within the SUI DeFi domain.”
Supra is a powerful cross-chain oracle that aims to bridge the gap between traditional financial markets and the Web3 ecosystem. By integrating real-world data into public and private chains, Supra empowers the developer community and the future of financial markets.
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Volo, governed by the Volo DAO, is a suite of DeFi products focused on optimizing the utility of the ankrSUI, the platform’s liquid staking token. Volo’s unique approach allows users to stake tokens, maintain liquidity, and participate actively in the DeFi ecosystem while ensuring decentralized governance and collaboration with experienced node operators.
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