Utilising liquid staked ATOM on secret DEFI Platform — Shade

Last article I have explained about Stride, the go to liquid staking protocol on Cosmos.

You can read it here to learn about Stride protocol further -:

Stride has made liquid staking possible in Cosmos

Recently, I liquid staked my ATOM to use it on DEFI. When I say DEFI, it’s no ordinary DEFI, I used stATOM on a Secret Network powered DEFI platform called Shade.

Shhhhh… because by reading this post you are going to get some insights on trading quietly.

Wondering what I mean?

Shade making it possible to trade in DEFI quietly with privacy

Shade Protocol, is a privacy powered DEFI platform offering a suite of interconnected web3 financial services empowering users to do DEFI transactions with privacy as their transactional details and account balances are not visible to the public by default.

Yes, Shade is built on Privacy Blockchain, Secret Network, which has private by default smart contracts.

So, on Shade you can trade quietly, with this private by default Blockchain not flashing your transaction history and your other sensitive account balance details.

You can check the shade app here — https://app.shadeprotocol.io/

Shade Protocol has various modules which together provide very valuable integrated DEFI services.

Shade’s interface has these Modules — Bridge, Swap, Borrow, Silk, Bonds, Derivatives, Wrap.

Shade App Modules

I will elaborate on the modules I am familiar with as I have used them recently trying out Shade DEFI.

Shade has created privacy preserving stablecoin — SILK

Before venturing further, let me introduce you all to a first of a kind or atleast one of a kind Stablecoin, Silk.

Silk is a private, global, decentralised stablecoin that can be minted on Shade App. It’s possible for Silk to be a privacy preserving stablecoin because it’s built on Shade.

Silk is also unique as its value is not acquired by being pegged solely to the USD currency, Silk’s acquires its value being pegged to a basket of global currencies and commodities.

Right now, you can see SILK’s peg to 1$ is got being hard pegged to various percentage proportions of other assets -

Shade App

Diversified stablecoin that hedges against fiat currency inflation

This is why SILK is global . Advantage of this is diversification, so SILK is not completely vulnerable to risks associated with holding USD currency . This is so because Silk is also pegged to sovereign assets like gold and BTC, assets that serve as a hedge against fiat inflation.

The percentage proportion of SILK’s peg to various commodities and currencies can be modified when needed through Governance.

In Shade, one can deposit collateral and borrow Silk.

Silk is an over collateralized, private, global, decentralised stablecoin.

Users can reveal any portion of their data to any one if they choose so — Customisable Privacy

Another aspect to understand before we go further is that although Shade users’ transaction and account details are not visible on Secret Blockchain by default, the user can choose to share any part of their account or transaction data details with third parties.

Shade users can allow other parties to view selected portions of their data by sharing viewing keys and permits.

Viewing keys and permits can be generated by the user to access their data which is otherwise encrypted. Users can allow any other parties to see selected portions of their data by sharing their viewing keys and permits.

Basically, Shade empowers users with customisable privacy. This gives users real ownership over their data, as they own their data and can exercise control over it.

Details on rewards I earned using the Shade App in my next article!!

It is time to end this article talking about secret DEFI platform Shade. In my next article, I will explain my experience using the Shade App, where I made use of my stATOM, the liquid staked ATOM from Stride on Shade DEFI.

What’s very cool about this is that I am earning Stride’s STD tokens for using stATOM on Shade.

More on that on my next article!!

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