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Proposal To Create FUND Liquid Staking Derivative to Benefit Shiba Inu Holders Passes

Unification has passed a proposal to create a FUND liquid staking derivative on the Ethereum network.

Ringoshi Tōitsu, the operator of the FUND validator for Unification, disclosed this to The Crypto Basic today. Recall that at the time of the previous report, the proposal had attracted 33% of the DAO voting power, with 98.8% voting in favor, according to details shared by Tōitsu.

As reported, the proposal authored by Samuel McCulloch, operator of the BigBossCapital validator, suggests that the network should employ FRAX’s dual token liquid staking derivative model to allow users to earn ETH staking rewards and yield from a liquidity pool. Consequently, the proposal requires the creation of two tokens and a Curve liquidity pool. McCulloch tentatively dubs the new tokens aFUND and sFUND.

(By OKOYA DAVID)

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