Glif Staked ICNTPrice

(STICNT)

stICNT is a liquid staking token (LST) representing ICNT deposited into the GLIF protocol on the Base network. It utilizes the ERC-4626 standard, which functions as a value-accruing vault. Instead of increasing the number of tokens in a user's wallet, the exchange rate of stICNT to ICNT grows over time as staking rewards are added to the pool. This allows users to earn rewards associated with long-term staking without being subject to traditional lockup periods.

Users can obtain stICNT by first moving ICNT to the Base network using secure bridging protocols. Once the assets are on the network, there are two primary methods to acquire the token: depositing ICNT directly into the GLIF pool to mint new stICNT, or acquiring it through supported decentralized exchanges and secondary markets. This provides flexibility for users to enter the staking ecosystem via the method that best suits their needs.

The yield for stICNT is variable and depends on the total volume of ICNT staked across the Impossible Cloud Network. GLIF optimizes these returns by automatically distributing the pool's assets across various network nodes and different lockup durations. This professional management aims to capture the highest available returns while diversifying risk, offering an automated alternative to manual native staking.

Currently, the most common way to exit a position is by swapping stICNT for ICNT on decentralized exchanges. Native redemptions directly through the GLIF protocol are currently under development and are expected to be available approximately one year after the pool's launch. To prepare for this, the protocol maintains an Exit Reserve of liquid ICNT to help facilitate faster withdrawals once the native unstaking feature is officially activated.

Because stICNT is a value-accruing token, its exchange rate reflects the original deposit plus all rewards earned by the staking pool. When you deposit ICNT, you may receive fewer stICNT tokens in return because each stICNT token represents an increasing amount of the underlying ICNT. Over time, as more rewards accumulate in the protocol, the value of stICNT is designed to trend upward relative to the native ICNT token.

GLIF has established a strong security record, having managed significant asset volumes on major networks. The protocol has undergone professional audits by firms such as Spearbit and Ackee Blockchain. To mitigate risks like node failure or slashing, GLIF diversifies its staking across multiple independent hardware providers. However, users should always consider general risks associated with smart contracts and potential changes in network-wide staking yields.