Today we’re announcing Branded LSTs, a new cross-chain liquid staking solution built on top of pxETH. These Branded LSTs enable Layer 1 and Layer 2 protocols to launch their own native LSTs, backed by apxETH, offering the highest ETH staking yield in crypto to a broader user base.

By acting as the foundational yield infrastructure for L1 and L2 networks, we can continue to expand our reach to new verticals, making pxETH the go-to solution for high-yield ETH staking.

Why Branded LSTs?

Taking pxETH cross-chain with Branded LSTs offers significant advantages for both users and partner networks. Users benefit from higher ETH yields, as apxETH has delivered APRs 3-4% above other LSTs like stETH since its launch.

For our partners, Branded LSTs introduce a new use case on their networks. These yield-bearing LSTs seamlessly integrate with existing dapps, enhancing the DeFi ecosystem without requiring any modifications to the chain’s existing infrastructure. The branded nature of these LSTs also allows partner chains to confidently promote them, growing their brand recognition while maintaining the option to bolster their treasuries by earning a percentage of the yield generated.

How it Works

Branded LSTs utilize LayerZero’s omnichain messaging protocol. When users deposit into a partner’s LST, their ETH is staked with Dinero on Ethereum mainnet. After staking, we use LayerZero to mint “partnerETH” instead of apxETH on the partner’s L2. From that point, users begin earning staking yield automatically.

Partners can choose how yield is distributed, whether through rebasing or upon user withdrawal, offering flexibility in how the yield is managed and presented to their users.

Early Partners

While we’re working with over 10+ partners on Branded LSTs, we’ve already announced Movement (moveETH) and will be announcing another in the coming week. Once live, moveETH and the other LSTs in the pipeline will be the premier LSTs within their respective ecosystems, creating new yield opportunities by pairing with other LSTs/LRTs on their chains.

Keep an eye out for more chains throughout the year 👁

If you’re an L1 or L2 looking to launch your own LST with Dinero, please reach out.