The omnichain liquidity infrastructure protocol StakeStone has seen a 20% increase, driven by a series of exchange listings.
Following the recent announcement of its token generation event by Binance Wallet, StakeStone (STO) has gained significant attention. The event took place today from 08:00 AM to 08:30 AM UTC.
Post-token generation event, various exchanges began offering the token for spot trading. MEXC has just introduced STO through the Airdrop+ event, featuring a total prize of 130,000 USDT. This event is currently underway and will conclude on April 13. Similarly, Bitget and Kucoin made listings, with Kucoin launching two promotional campaigns for the token, boasting a combined prize pool of $25,000, which will run until April 10.
Apart from spot listings, StakeStone was introduced on Binance Alpha. Additionally, BingX has initiated an STO staking event on its Launchpool, allowing users to stake Tether (USDT) or Bitcoin (BTC) for a chance to earn a share of 400,000 STO tokens at no cost. New users can also benefit from an additional $120 Futures Bonus Voucher. The staking phase will last until April 6.
As a result of these initiatives, STO climbed to $0.06 at the time of this report, marking a 200% increase from its initial DEX offering price on Binance Wallet, which was $0.02, according to CryptoRank.io.
StakeStone initiated development in July 2023 with the release of its testnet. By September of that year, it had launched its mainnet. By the close of 2023, it had achieved a total value locked of 290K ETH (approximately $645 million), positioning it as the 5th largest stETH holder on-chain and attracting over 93,000 users while integrating with numerous protocols.
In November 2024, StakeStone rolled out its SBTC and STONEBTC products and successfully completed a Series A funding round led by Polychain Capital. The following month, it launched a pre-deposit DeFi vault on Berachain (BERA), aiming to attract retail users, along with forming significant partnerships with Lido and P2P.org.
This year, the project unveiled LiquidityPad, enabling users to tap into exclusive opportunities and earn token rewards by providing liquidity to a diverse array of cross-chain applications and ecosystems.
According to StakeStone’s official site, details regarding token allocation and the vesting plan will be released soon.