Milky Way: Revolutionizing Staking with Liquid Assets

Introduction to Milky Way

Milky Way is a restaking protocol designed to optimize the security of validation services by utilizing assets from various blockchain ecosystems. This modular system allows users, known as “restakers,” to stake their assets on the Initia testnet to obtain “Milky Init,” thereby providing economic security and additional yields.

How Milky Way Works

Milky Way’s protocol relies on three main actors:

• AVS (Active Validation Services): These services require economic security and leverage network security to function efficiently.
• Restakers: They provide this security by staking their assets, such as INIT tokens from the Initia testnet.
• Operators: They manage and maintain the network infrastructure, ensuring secure operations.

Benefits of Milky Way

• Optimized Asset Utilization: By enabling restaking, Milky Way maximizes the use of staked assets, increasing their economic efficiency.
• Enhanced Security: Restakers contribute to the security of multiple blockchain ecosystems, creating a more robust and interconnected network.
• Increased Yields: Users can earn additional returns on their initial investments by participating in restaking.

Key Features of Milky Way

• Liquid Staking: Stake your INIT tokens and receive milkINIT, a liquid representation of your staked assets. This allows you to continue utilizing the staked value while earning rewards.
• Rewards: Earn rewards in the form of mPoints.
• User-Friendly Interface: Easily navigate the streamlined and intuitive design of MilkyWay.
• Interoperability: Seamlessly transfer your assets between Initia and MilkyWay.

Practical Guide to Using Milky Way

In this section, we will guide you through the essential steps to use the Initia and Milky Way testnet. By following this guide, you will learn how to utilize all the features of Milky Way.

Accessing Milky Way

You can access Milky Way in two ways:

• Direct Access: Visit the Milky Way testnet directly at Milky Way Testnet.
• From Initia Testnet: Navigate to the XP tab on Initia testnet and click the Milky Way icon, as shown in the image below.

Claiming Testnet Tokens

Before starting staking, ensure you have the necessary INIT and GAS tokens. You can claim these tokens directly on Milky Way or from the Lunch mobile app.

Claiming INIT and GAS Tokens:

• Click on the “Get Tokens” button and select “INIT x GAS”.
• Note that a minimum of 500 mPoints is required to claim these tokens.
• Enter your wallet address and click “Claim INIT and GAS”.

Note: mPoints are accumulated through your interactions with the Milky Way protocol. At the first interaction, you will not yet have mPoints to claim INIT and GAS.

Learn how to claim them on the Lunch app.

Claiming MILK Tokens:

• Click on the “Get Tokens” button and select “MILK”.
• You can claim 30 MILK tokens every 7 days by entering your Initia wallet address and clicking “Claim MILK”.

Staking INIT Tokens

Once you have your INIT tokens, you can stake them to receive milkINIT.

Bridge INIT to Milky Way :

Use the “Bridge INIT to Milky Way” feature to transfer your INIT tokens from Initia to Milky Way.

• Enter the amount of INIT you wish to transfer.
• Confirm the transaction, which may take some time if the bridge is congested.

Staking Process:

• After the transfer, your INIT tokens will be available for staking.

• Enter the amount of INIT you wish to stake.
• Click “Stake” to convert your INIT to milkINIT.

Transferring milkINIT to Initia

• Use the Initia bridge to transfer your milkINIT to Initia or to an Initia Layer 2.

• Choose the departure network (Milky Way) and the destination network (Initia).
• Enter your wallet address and the amount of milkINIT to transfer.
• Confirm the transaction.

Adding milkINIT to a Liquidity Pool on Initia

• Go to the stake tab on the Initia testnet.
• Select the milkINIT-INIT pool.

• Choose how to fund your pool (only INIT, only milkINIT, or both).

• Determine the amount to add.

• Select a validator and confirm the transaction.

Exploring dApps

• Explore various dApps within the Initia ecosystem.
• Use your milkINIT on platforms like Tucana by participating in liquidity pools.

Conclusion

MilkyWay transforms the staking experience by offering liquid staking options that provide flexibility and continuous asset utilization. By enabling the restaking of INIT tokens to obtain Milky INIT, the protocol not only secures networks but also offers increased yield opportunities for users.

Explore MilkyWay today and enhance your understanding of staking with modular liquid staking!

Stay informed and engaged with the community by joining their Discord, checking out their Zealy quests, and following them on Twitter for the latest updates and announcements.

To discover other Minitias of Initia and further enrich your blockchain experience, feel free to check out our dedicated article on Minitias.

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