Cross-Chain DeFi Staking Partnership Unveiled by Unmarshal and KIRA thumbnail

Cross-Chain DeFi Staking Partnership Unveiled by Unmarshal and KIRA

A new partnership between Unmarshal and KIRA could expand staking options across decentralized finance and non-fungible token markets.

Announced on April 19, the collaboration aims to accelerate cross-chain liquid staking in DeFi and NFT markets.

According to the blog post, KIRA will now be using Unmarshal’s on-chain data and NFT APIs to fetch rich decoded data from multi-chains. This will enable users to easily stake crypto assets from multiple blockchains at the same time to earn various rewards.

🚀Unmarshal partners with KIRA Network to Accelerate Cross-Chain Liquid staking in DeFi and NFT

📖Read More: https://t.co/NsNXuTCzdN#web3 #DeFi #NFT pic.twitter.com/0FVdPuG5PJ

— Unmarshal (@unmarshal) April 19, 2021

Crossing the Chains

KIRA is a staking-based independent blockchain that acts as an “interchain” between other networks. Staking on KIRA allows users to unlock their liquidity and provides full access and control to stakable assets from other networks.

Using ETH, for example, the protocol would issue a synthetic sETH token equivalent to the amount of ETH staked that could be freely tradable and transferable. Binance does something similar for ETH 2.0 stakers by giving the BETH tokens to use in BSC yield farms.

Unmarshal is a multi-chain DeFi data network that facilitates seamless access to data on various blockchains. It currently supports Ethereum, Binance Smart Chain, Polkadot, and other Substrate-based projects.

The partnership will enable the KIRA INTERX API service to gain quick access to blockchain data with real-time and reliable data being fed by Unmarshal. Unmarshal will also be indexing KIRA Network as well providing interoperable data from other chains like Ethereum and BSC, the announcement added.

KIRA CEO and founder Milana Valmont stated;

“We are happy to join forces with Unmarshal to create data integrity verification technology and bring trusted, reliable data access to the ecosystem of Web 3.0 networks and user owned decentralized applications,”

MARSH and KEX Token Price Update

Unmarshal’s native token MARSH has risen pretty well for the day, increasing by 14.8% to $5.31 at the time of publication, according to Coingecko. The token has been in decline since its all-time high of $9.20 on April 8.

KIRA Network’s KEX token has increased slightly, going up by 1% on the day to $1.01. The ATH for KEX came on February 19 when it hit $2.15, and it has since lost over half.

As crypto markets continue their correction, DeFi total value locked has also declined with a loss of roughly $6 billion from its peak on April 16 of $70 billion to today’s level of $64 billion, according to Dappradar.

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