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Liquid staking allows users to stake and earn yields without locking their assets into a protocol. To achieve that, users will have to deposit staking tokens into staking pools and will receive a token receipt of the corresponding liquid staked token. With that, users can use the token within the ecosystems for various yield strategies to maximize their earnings without the need of unstaking.
LCRO is the token receipt of liquid staked CRO that users will receive after staking CRO with Veno. LCRO is an auto-compounding yield-bearing token, where its internal exchange rate on Veno will increase over time when compared to CRO based on CRO staking yield on Crypto.org.
As users automatically accrue the CRO staking yield value in their LCRO token; LCRO can thus be used freely across the Cronos DeFi ecosystem. LCRO holders will: (1) be able to utilize them as collateral while earning staking yield, (2) be able to find immediate CRO liquidity with low fees, and many more.