StaykX enables XRP holders to stake their XRP to get extra yield. That's all fine and dandy for me, but all major exchanges offer staking reward for staking XRP already.
Meanwhile, looks like Ripple itself is offering staking reward directly in their ecosystem. So, is there much market share to gain against the large competitors in the space? Right now, the marketing is oriented toward crypto geeks, is that enough to make a sustainable business?
Lastly, if Ripple struggle, then StaykX will struggle, maybe being more versatile to other crypto currencies or ecosystem would make the business less risky.
There is no explanation of how yield will be generated to payout the APY to stakers, I suspect it will be yield farming on DEX and maybe CEX eventually, if so, can the liquidity of stakers be used to short sell XRP? That would be kinda funny until stakers find out, but maybe a good way to generate yield regardless. Show Less
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