Bloq Enters DeFi With New Staking Service

Bloq Enters DeFi With New Staking Service

Blockchain infrastructure firm Bloq is rolling out a new product to make it easier to invest in decentralized finance (DeFi) by asking users to stake their crypto, indicate a risk preference and letting the platform conduct the due diligence and actual farming for them. 

Announced on Wednesday, Bloq’s new platform, dubbed Vesper, is marketed as an easy-to-use platform for DeFi products. The platform will offer users the option to stake ether (ETH), wrapped bitcoin (wBTC) or USD Coin (USDC) using one of its “holding pools,” starting mid-November. 

Jeff Garzik, co-founder of Bloq, said that after depositing their crypto, users could indicate their risk preference between aggressive or conservative, and their crypto would be staked to earn yield. According to Garzik, the DeFi protocols invested in under a conservative risk preference would be well-known ones such as Aave or Compound, whereas an aggressive approach would invest in lesser-known projects with limited due-diligence on their code.

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