Elrond Metastaking for ITHEUM

Metastaking is a unique DeFi (decentralized finance) concept on Elrond’s Maiar DEX (decentralized exchange) that will enable staking and compounding for community tokens after they’re farmed.

This new product offers a simple way for token holders to stake their assets for the long term while simultaneously earning rewards. It also provides an additional income stream for LPs (liquidity providers), who can earn a third type of reward (denominated in the staked token) for depositing liquidity into pools, in addition to the regular LP staking farm and fees.

With a combination of token staking, liquidity providing, and yield farming, Elrond metastaking incentivizes LPs to simultaneously earn three types of rewards.

These exciting features and benefits are only made possible through the technology behind Elrond’s blockchain architecture.

Metastaking is the first DeFi creation that brings the power of liquidity providing, staking, and yield farming into one product. The novel liquidity providing incentives and income streams offered by metastaking will enhance the ITHEUM token’s utility and attractiveness for long-term holding.

An EGLD/ITHEUM LP can simultaneously earn the following three types of rewards:

The addition of a new income stream through metastaking will further incentivize users to add liquidity, again benefiting the long-term health of the ITHEUM token.

Ownership of the ITHEUM token or corresponding side tokens (like $mITHEUM and $bITHEUM) will be necessary for the following tasks:

ITHEUM is the “software key” for gaining authorized access to a user’s data. A data creator can authorize a requester to access their data when they receive ITHEUM from the requester.

In the event the trade is processed by a Data Coalition DAO (part of a bulk data pool), ITHEUM is transferred from the access requester to this entity, after which it is disbursed to its collective members.

The IF DAO votes on “proposals’’ regarding how the ITHEUM treasury will be spent to advance the community’s roadmap and development. Staking ITHEUM allows users to gain relative voting rights within the IF DAO.

The Data Coalition DAO votes on “motions’’ regarding the bulk trade of data. Staking ITHEUM provides users with relative voting rights for managing the operation of the Data Coalition DAO.

Elrond Metastaking for ITHEUM opens up new possibilities for Itheum DEX users to earn three-fold returns on their tokens — a powerful preview into the possibilities of Web3 innovation.

Itheum empowers data ownership in the Web3 and Metaverse ecosystems and creates new market value for your data. It enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that enable high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “NFMe ID” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk trades your data). It also aims to be fully privacy-preserving, regulation-friendly and cross-chain; making it the most comprehensive core blockchain data infrastructure available in the market with use-cases in both the enterprise and retail space.

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