Hi there,
Crypto markets have dropped significantly over the last week. Meanwhile, the staking market has again experienced overall net inflow, if we exclude Algorand, where Staked Value dropped significantly due to a switch in the Algorand governance.
Ethereum & Near Protocol accounted for $1.5bn net staking inflow alone. After the recent sharp drops with NEAR, the token seems to be in long-term investor accumulation mode now.
Significant staking outflows have been seen at Solana, Fantom, and BSC.
Other significant Staking outflows were seen in Solana, Fantom, and BSC. Solana has certainly struggled with their recent network outages, which likely led people to unstake.
Fantom, and BSC as EVM compatible chains are seemingly getting strong backlash from Ethereum Staking Inflow and their great renaming campaign from Ethereum 2.0 to simply Ethereum. We believe that EVM chains will continue to lose market share as the Ethereum merge nears.
Other highlights of this week are:
- Chorus One released Annual Staking Review
- Bitcoin Mining may soon be banned in Russia
- Polygon & Bitfinex launch massive staking campaign
- pStake and Stader Labs break records with their latest fundraising
- Coinshares launched first Staking ETPs
Make sure to stick around and read other staking-related news below.
All the best,
Mirko
Staking at a Glance
Staking Intelligence
Global Staking Research
- Chorus One Annual Staking Review
Chorus One have been going through hundreds of data points and analyzing each of their offered networks in detail to release the Chorus.one Staking Review for 2021 Read more - Treating crypto ‘staking’ as income suits the taxman, says, Bitcoin Suisse board Member Giles Keating. Read more
- Federal Reserve releases report on digital assets & CBDCs Read more
- EU should ban energy-intensive mode of crypto mining, says vice chair of the European Securities and Markets Authority (ESMA), Erik Thedéen “The solution is to ban proof-of-work,” he said. “Proof-of-stake has a significantly lower energy profile.” Read more
- Mining Bitcoin may soon be banned in Russia, the world’s third-largest crypto miner
“Mining hurts the country’s green agenda, jeopardizes Russia’s energy supply and amplifies the negative effects of the spread of cryptocurrencies, creating incentives for circumventing attempts at regulation”, according to the Bank of Russia. Read more
Staking Assets
- Robonomics, a decentralized cloud for storing digital twins of robotics and IoT devices, won Kusama’s latest parachain.
The Robonomics parachain was launched on 9th January 2022. Upon launching, release 1.4 of Kusama Parachain Launch was posted on GitHub. Read more - Polygon to Delegate $189M Worth of MATIC to Bitfinex for Staking.
The new program may offer 41% in staking rewards on an annualized basis for a limited time. Read more - Secret Network Announces $400M in Ecosystem Funding and Reveals New Investors
DeFiance Capital, Alameda Research, CoinFund, HashKey, and more join the Secret ecosystem – and they reveal $400M in ecosystem funding with support from 25 organizations! Read More - Uniswap Crosses Milestone With Greater ETH/Stablecoin Volume than Coinbase or Binance
Comparing ETH/USD + ETH/USDC + ETH/USDT + ETH/DAI 24hr volumes. Read more
Uniswap – $1.25b Binance – $1b Coinbase – $0.5b FTX – $0.43b - OlympusDAO Created a Breakthrough DeFi Model – Now It’s Down 93% and Called a ‘Ponzi’
Now Olympus is being rocked by doubts. OHM has cratered since its high on Oct. 24r and is trading at about $97 in mid-day trading New York time. Read more - Andre Cronje and Sesta Reveal Details about new protocol
Dubbed Solid Swap, the protocol will aim to incentivize fee generation, rather than total value locked (TVL) as is currently popular in the DeFi sector. Long-term token locks and voting participation will also be rewarded. Read more - EIP-1559 Upgrades Are Going Live on Polygon Mainnet
Known as the London hardfork, EIP-1559 went live on Ethereum mainnet in August last year and was one of the biggest changes in its history. After a successful upgrade on the Mumbai testnet, Polygon’s core development team is rolling it out on the mainnet. It goes live on Jan. 18. Read more - Akash Network Adds Support for Chia Network
Akash Network announced that it has added support for Chia Network, an open-source blockchain, and smart transaction platform Read more - Aave Cranks Up Institutional Play With Launch on Layer 2 Networks
Aave’s institutional deployment, Aave Arc, will launch on leading Layer 2 rollup networks Optimism and Arbitrum after receiving resounding support in a governance snapshot. Jan. 18 showed that 583,000 or 99.99% of voters support Arc on Arbitrum, and 431,000 or 100% back its deployment on Optimism.. Read more - Cardano founder Charles Hoskinson said delays were just the nature of the game when asked about the hold-up of Ethereum 2.0.
In an interview with Dan Gambardello from the Crypto Capital Venture YouTube channel, Hoskinson said people were too focused on the short-term picture in response to Cardano’s lack of dApp offerings since the Alonzo smart contracts went live four months ago. Read more - SundaeSwap Mainnet Launch Causes Network Congestion on Cardano, as users report failing transactions. Cardano’s first dapp went live on mainnet but a few errors on the platform many failed transactions caused by the network congestion which left the users frustrated Read more
- Taraxa announces a public mainnet launch with staking delegation, targets reputation in the metaverse. The Silicon Valley-based public blockchain that focuses on audit logging of informal transactions to infer reputation and social graphs from off-chain signals, has announced the launch of its mainnet candidate network. The long-awaited release comes on the heels of the recent successful deployment of Californicum testnet and over 254M TARA tokens staked in the pre-staking program. The mainnet candidate will feature staking delegation, along with massive user and node operator incentives and rewards. Read more
- Execution layer + consensus layer = Ethereum ? Beyond protocol development, a critical shift in Ethereum has been the movement away from ‘Eth1’ and ‘Eth2’ terminology as Eth2.0 undergoes its great renaming . Read more
Staking Providers
- PSTAKE Breaks CoinList Record on the Way to a $10 Million Fund Raise
Some of the heaviest hitters in the world of crypto capital investing are backing pSTAKE including Three Arrows Capital, Galaxy Digital, Sequoia Capital India, DeFiance Capital, Coinbase Ventures, Tendermint Ventures, Kraken Ventures, Alameda Research, and Sino Global Capital. Read more - Crypto staking platform Stader Labs raises $12 mn, valuation jumps to $450 mn Three Arrows Capital led the sale with participation from Blockchain.com, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4RC, Figment and marquee angels including Matt Cantieri, GM at Anchor Protocol and Prabhakar Reddy, Co-founder of FalconX. Read more
- Binance Loans Adds Collateral Assets $ATOM & $ROSE, and Staking Collateral Asset Read more
- The Composable Parachain is realized! Composable Finance wins 8th slot at 7th Polkadot parachain auctions. Read more
- CoinShares Lists World’s First Crypto ETPs With Transparent Staking Rewards and Reduced Management Fees Unique Tezos and Polkadot ETPs to feature staking rewards of 3.0% p.a. and 5.0% p.a. (respectively) and reduced management fees of 0.0% p.a. Read More
- Elrond has acquired the leading crypto payments service provider Utrust
With the acquisition of Utrust, Elrond sets out to accomplish two goals: make payments faster, cheaper, and more secure by using internet-scale blockchain technology and transform payment processing services from a cost for merchants into an income stream. Read more - Injective Bridge announces V2 is nearly finished, Osmosis integration.
On official news, Injective announced the V2 version of the Injective Bridge, which will create a decentralized cross-chain bridge for Ethereum, Cosmos, and IBC. Read more - DEXs Sliding into Price War as Uniswap and dYdX Slash Trading Fees
Rising competition amid a souring market is pushing decentralized exchanges to lower their fees with DXDY and UniSwap both dropping fees as much a 66% Read more - USA based Crypto Individual Retirement Account platform iTrustCapital raises $125 million in Series A funding
With fresh capital in hand, iTrustCapital, which offers individual retirement plans in USA, has plans to offer new products, such as staking of governance tokens Read more - Curve Boosts Layer 2s with Launch on Optimism
Curve, a leading decentralized exchange specializing in stablecoin swaps, has launched on Layer 2 rollup network Optimism. Optimism was tipped by many to quickly emerge as a leading L2 network, with the team having received the same grant as rival Arbitrum last year. Read more - Full-Service Bitcoin DeFi Platform, ALEX Launches Mainnet on Stacks
The first full-service DeFi platform on Bitcoin announced that it will be deploying its mainnet on Stacks. With approximately $250 billion total value locked in DeFi, principally on Ethereum and other chains, ALEX unlocks Bitcoin’s DeFi potential by providing lending and borrowing services to bitcoin holders. Read more
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