What is this about?

Tenderize v2, a novel liquid staking protocol, was recently announced and is expected to launch on Arbitrum in October. This protocol, which is entirely permissionless, supports Livepeer (LPT) and the Graph (GRT). It was co-founded by Nico Vergauwen, a former Livepeer Protocol Engineer, and Alec Shaw, a former core member of SperaxDAO and recipient of 1.8M ARB.

The protocol is powered by three core products: Tenderswap, TenderVaults, and BeefBank. Tenderswap acts as a clearing house style DEX that purchases LST’s from users. TenderVaults allows users to mint and redeem validator-specific LSTs. BeefBank provides a platform where users can borrow against their stake to mint steak dollars.

How is the community reacting?

The community's reaction to this announcement is not included in the summaries provided.

Why this is positive?

The permissionless nature of Tenderize v2 is a significant positive aspect. It allows any validator to launch a liquid staking experience for their customers, who can then enjoy instant liquidity through TenderSwap for swaps or BeefBank for stablecoin loans. This feature could potentially increase the accessibility and flexibility of staking for users.

Additionally, Tenderize v2 is currently seeking initial partners to stake to the hardware of their choice through the protocol. Those who participate as initial stakers will receive a bonus airdrop grant, which could incentivize early adoption and participation in the protocol.

Why this is negative?

The summaries provided do not include any negative aspects or concerns related to Tenderize v2.