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sKLAY is an ownership and liquidity token delivered via smart contracts for KLAY that users stake through KLAYstation, KLAY’s official staking service. By providing liquidity, sKLAY lets participants in staking deploy their assets across different income opportunities while still keeping their staked position. At its foundation, sKLAY empowers KLAY holders who stake through KLAYSTATION to manage the rights associated with their staked KLAY. After blocks are verified, the node rewards are distributed in proportion to the amount of sKLAY each holder has. The process for unstaking also depends on sKLAY.
Since sKLAY functions both as a token and as a way to unstake without time limitations, it can serve as an asset within various DeFi protocols as the Klaytn DeFi ecosystem expands.
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