Comparisons for Different Approaches for Delegation Tokenization

1. Context Delegated Proof of Stake : the Standard Concensus Mechanism for Next Generation Blockchains • Most newly born public blockchains adopt proof of stake, especially delegated proof of stake • dPoS has demonstrated the most stable and secure concensus mechanism for past several years Liquid Staking : Unlock the Staked Assets for Great Potential Economic Value • Most staked assets in dPoS blockchains are locked in the blockchain protocols • Unlocking the staked assets have great economic potential to thrive growth of investment and use-cases in dPoS networks Delegation Tokenization : Protocol Level Base Layer Support for Liquid Staking • There should exist very secure support from the core blockchain modules for liquid staking • Simple delegation tokenization feature on dPoS is necessary to • allow many staking derivatives applications to bring innovated financial utilities • with securely built base layer protocol as a building block • The base layer delegation tokenization should have simple and general design 2. Important Properties Fungibility • Fungible over same validator or over all validators? • Fungible over staking time…

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