HAQQ Network and Stride Zone Join Forces to Bring Liquid Staking to the Cosmos Ecosystem

Ethics-first blockchain HAQQ Network recently announced a major partnership with leading multi-chain liquid staking protocol within the Cosmos ecosystem, Stride Zone.

Blockchain technology has advanced rapidly in recent years, and with it, new possibilities have emerged for the financial industry. One particularly exciting development is the integration of liquid staking protocols, which enables users to stake their tokens and earn rewards while maintaining liquidity. Now, thanks to a major partnership, users of the HAQQ Network ($ISLM) will gain access to this capability through Stride Zone, a leading multi-chain liquid staking protocol within the Cosmos ecosystem.

This partnership marks a significant milestone for both projects and is expected to have a positive impact on the HAQQ community. Here's a closer look at what this collaboration entails and its implications for $ISLM users.

HAQQ Network Partners with Stride Zone to Integrate Liquid Staking for $ISLM Tokens

In traditional staking, users need to lock their tokens for a specific period, making them inaccessible for trading or other financial activities. However, Stride Zone's liquid staking solution provides users with greater flexibility over the control of their assets.

With Stride Zone, $ISLM users can stake their tokens, earn rewards, and maintain liquidity through tradable staked tokens ($stISLM). These tokens can be traded or utilized in various decentralized finance (DeFi) activities, such as providing liquidity on decentralized exchanges, participating in yield farming, and borrowing. This flexibility empowers users to maximize the utility of their staked tokens while still earning staking rewards.

Stride Zone is a multi-chain liquid staking protocol that specializes in the Cosmos ecosystem. It already supports various tokens, including $TIA, $OSMO, $INJ, and $ATOM. However, its partnership with HAQQ is expected to both enhance $ISLM liquidity and strengthen the protocol's place in the emerging liquid staking subsector, the team told International Business Times in a statement.

As part of the collaboration, HAQQ Network will stake 100 million $ISLM tokens through Stride, a move expected to propel Stride's total value locked (TVL) by 4%. This will also position HAQQ as a major contributor to Stride's liquid staking token (LST) liquidity.

Given that HAQQ is committed to ethical DeFi practices, the collaboration with Stride only cements the HAQQ blockchain's work in ensuring the highest standards of security, efficiency, and ethical compliance for its fast-growing community. The community around $ISLM is bent on ensuring that Islamic finance principles and integrated into the HAQQ blockchain platform and activities within are compliant with Shariah law.

The ethics-first network also champions sustainability-centered development in the broader Web3 industry and welcomes validators and open source contributors focused on sustainable solutions. It is on a mission to make Web3 projects accessible to everyone, and its partnership with Stride supports this goal.

In an operational update for the community in April, HAQQ and $ISLM co-founder Alex Malkov revealed that the team is working on delivering new products that "advance the cause of Islamic finance in the Web3 space," including a non-custodial Haqq Wallet where $ISLM and other cryptocurrencies can be stored, traded and used to earn rewards.

Malkov also told IBT late in May that he believes tokenization can open many untapped opportunities for the crypto market, including Sukuk, or Shariah-compliant bonds, which is expected to expand further this year.