Singapore - April 4, 2024 - In a landmark collaboration set to redefine Ethereum staking, Cobo, a leading digital asset custody technology provider, and StakeStone, a pioneering platform providing an omnichain liquidity infrastructure, have announced a strategic partnership. This alliance will see Cobo's cutting-edge Multi-Party Computation (MPC) technology seamlessly integrated into StakeStone's ecosystem, fortifying asset security during deposits and redemptions while ensuring an unparalleled user experience.
Significantly, this collaboration marks an industry-first deployment of MPC technology into EigenLayer Native Restaking – a game-changing paradigm sweeping through the Ethereum community. As Ethereum Proof-of-Stake (PoS) staking and restaking activities gain mainstream traction, EigenLayer has emerged as a frontrunner, boasting a total value locked (TVL) exceeding $11 billion. Leveraging EigenLayer’s improved Actively Validated Services (AVS), this burgeoning ecosystem has attracted renowned development teams, underscoring its immense potential.
By revolutionizing the approach to Ethereum PoS staking and restaking with varied, cutting-edge strategies, StakeStone is set to redefine simplicity and accessibility in the space. StakeStone aims to empower an extensive spectrum of users to seamlessly engage and secure risk-free Ethereum (ETH) yields without compromising on asset liquidity.
The collaboration between Cobo and StakeStone marks a significant milestone in Ethereum staking and restaking. By integrating Cobo’s MPC technology, the partnership eliminates single points of failure, setting a new standard for asset security and accessibility in the digital asset landscape.
Discus Fish, CEO of Cobo mentioned, “the Cobo-StakeStone partnership marks a new frontier in asset security for Ethereum staking and restaking. By integrating our pioneering MPC technology with StakeStone's diverse strategies, we are unlocking unprecedented protection for users within EigenLayer Native Restaking."
"This partnership signifies a new era for seamless access and fortified trust in the dynamic world of digital assets, paving the way for a synergistic future where liquidity flows unhindered and assets are protected. Together, we are setting a new standard for user empowerment and shaping the financial landscape," commented Ivan K, CMO of StakeStone.
About Cobo
Cobo is a globally trusted leader in digital asset custody solutions. As the world’s first omni-custody platform, Cobo offers the complete spectrum of solutions from custodial wallets to non-custodial wallets including MPC and smart contract wallets, as well as Wallet-as-a-Service, a DeFi management platform (Argus), and an off-exchange settlement network (SuperLoop). Trusted by over 500 institutions worldwide to safeguard billions in digital assets, Cobo inspires confidence in digital asset ownership by enabling safe and efficient management of digital assets and interactions with Web 3.0. Cobo is ISO27001 certified, SOC2 Type 1 and Type 2-compliance-certified, and licensed in 4 jurisdictions.
For more information, please visit www.cobo.com.
About StakeStone
StakeStone is a leading liquidity infrastructure protocol that specializes in staking assets on risk-free underlying assets beyond the consensus layer, minting yield-bearing assets, and redistributing liquidity across chains and protocols. With its innovative architecture and commitment to transparency and optimized yields, StakeStone is dedicated to advancing the DeFi space by supporting the minting of assets like yield-bearing ETH and STONE ETH and establishing new standards for liquid assets. StakeStone’s relentless pursuit of transparency and maximized yields drive the evolution of liquid assets, cultivating a dynamic, ever-growing omnichain liquidity distribution network.