The new partnership will deliver a secure, insured custody architecture for all stakedTokens
StakeHound and Copper today announced a partnership to establish robust, end-to-end secure custody infrastructure around stakedTokens.
StakeHound eliminates the competition between staking and DeFi by enabling users to profit from the stable staking rewards of the original tokens and participating in DeFi with their wrapped ERC-20 version.
In other words, StakeHound provides users with a ERC-20 wrapped version of the original tokens such as XZC or XEM which can be immediately used in DeFi applications. Original tokens are staked in the pool, and StakeHound distributes staking rewards directly to users as additional stakedTokens on the regular basis. Joining forces with Copper will ensure secure transmission of original tokens to and from StakeHound platform.
From the very first moment, StakeHound realised that to offer best-in-class service, it must build an efficient and secure infrastructure supporting stakedTokens. StakeHound’s solution for staking and DeFi stands on three pillars one of which is a secure and seamless transmission of funds with a trusted custodian.
That’s why one of the first partnerships StakeHound formed was with Copper.
Copper is trusted by some of the biggest institutional investors in crypto because of its reputation for security, professionalism, and efficiency. It was a recipient for the 2019 and 2020 HFM Awards for Best Digital Asset Custodian.
Dmitry Tokarev, CEO of Copper, commented: “With a market cap exceeding $12 billion dollars, DeFi has become the fastest growing sector in the blockchain space – necessitating an independent, trusted, and secure custody solution. Partnering with StakeHound enables us to bring increased security and efficiency to this space, allowing investors to keep their minds focused on market performance, while we take care of the seamless transmission of tokens to and from the StakeHound platform.”
Copper’s award-winning custody application is underpinned by multi-party computation cryptography, and uses zero-knowledge proofs to facilitate online communication between key shards. What does that mean? It means your assets are very, very, secure.
On top of that, Copper is insured with a crime policy brokered by Aon in London and underwritten by some of the largest insurers in the Lloyds of London market.
The StakeHound team today announced its upcoming AMA session, to be led by Albert Castellana, CEO of StakeHound and welcoming Katrina Daminova. Mark your calendar for Thursday 5th of November, at 12pm CEST on the StakeHound Facebook Page . Katrina will also be joining StakeHound Telegram group to answer more of your burning questions after the interview ends.
There is still time, but you can start submitting your questions in StakeHound Telegram Group any time before the session actually starts with a #AMACopper.