Blockchain News

Breaking the Barriers: KanaLabs Brings Cross-chain Staking to Aptos and Beyond

According to KanaLabs, the upgrade is part of the protocol's efforts to create a more comprehensive DeFi product suite, enabling users to stake their tokens across multiple platforms under a single UI with fast transactions and optimal rates.

KanaLabs Adds Staking on Aptos and Solana 

Decentralized Finance protocol KanaLabs launches cross-chain staking, allowing users to stake and unstake tokens across supported chains. 

Through the KanaLabs staking aggregator, users can stake their tokens across multiple staking platforms of their choice for the desired blockchain under one interface.

“Now, we are able to bypass the hurdles of being limited to staking tokens across just a single blockchain and allow users to stake their tokens across multiple staking platforms from different blockchains under a single UI,” KanaLabs noted in a statement. 

Currently, the protocol has initiated staking on Solana and Aptos. The protocol supports Marinade and Lido staking for Solana, while the Ditto platform supports staking on Aptos.

The bridge aggregator of KanaLabs selects the best route for cross-chain staking transactions and processes them in less time. During the process, the source token is exchanged for a token belonging to the target chain and staked in the platform of the user's choice. Further, KanaLabs plans to bring staking for Polygon blockchain in the future.

KanaLabs launched aggregated swaps on Aptos last November. Initially, the platform was a mobile-first DeFi app platform that aimed to aggregate pricing for DeFi protocols across multiple blockchain networks.  It supported the Solana network during Testnet and Mainnet stages and the Neon network during its Testnet stage.

KanaLabs also plans to aggregate bridges like Wormhole, LayerZero, and Celo to provide users with the best price when it comes to transferring tokens between chains.

What is KanaLabs:

Kana Labs is a DeFi platform that aims to solve the problem of a multi-chain web3 ecosystem and a cross-chain world. The company plans to do this by constructing a network of aggregated bridges to provide a platform for integrating multiple chains. As a result, users and Dapps will be able to thrive on the platform seamlessly across different chains by bringing in additional liquidity.

Learn more about KanaLabs:

Website | TwitterDiscord | Telegram 

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