State of Stake is a series of curated news, research, updates, and events in the Proof-of-Stake ecosystem. Stay informed with the biggest PoS networks and all things Staking. This is our 20th report and we are happy to announce that it was released in collaboration with Staking Rewards! Staking Rewards provides trusted access to all passive income opportunities with regard to digital assets. They are curating knowledge and data to build a healthy staking and DeFi ecosystem. Staking Rewards’ core focus are Proof-of-Stake Protocols which enable passive returns through staking. They also cover Masternode Coins, Dividend Tokens and Lending Protocols.

      In this update, we examine the period from 2nd May — 16th May with a general overview of the market, highlighted research in the space, news on all launched staking networks, updates on all the upcoming PoS networks, the latest developments from staking infrastructure providers and a handful of staking-related events.

      Global Market Overview

      According to Staking Rewards Global Market Overview the current Staking Marketcap sits at 14.27 billion USD and is down 3.4% in the last 2 weeks. In comparison the Global Marketcap has gained 4%. We believe this can be traced back to the strength of Bitcoin in the current market conditions.

      Tezos has clearly taken the lead as the biggest staking networks since it surpassed EOS in April.

      https://www.stakingrewards.com/global-charts

      Tezos has clearly taken the lead as the biggest staking networks since it surpassed EOS in April.

      Source: stakingrewards.com

      The current total value locked in staking sits at around 8.46 billion USD. With an an average reward rate of 15.74% we are expecting over 1.26 billion USD being generated as staking rewards in the coming year.

      Source: stakingrewards.com

      Macro Evolution of PoS and DPoS networks

      Tezos might be emerging as an early leader but as the time series by Messari shows, unlike PoW networks, there appears to be no first-mover advantage in PoS networks.


      Think & Stake

      The Proof of Stake Alliance (POSA) seeks to get ahead on Staking Regulations

      The industry advocacy group, led by Polychain and Coinbase is publishing a series of recommended standards for companies participating in a proof-of-stake consensus protocol in an effort to reduce regulatory clampdowns on different networks.

      “We’re coming out with some industry-driven solutions around staking as a service which we believe will really help push the ecosystem forward and ensure that staking as a service and staking can grow in the U.S. without being subject to some regulatory landmines and hurdle,” said Evan Weiss, the group’s founder.

      The recommendations shared with the SEC are essentially:

      1. Don’t provide investment advice to market participants
      2. Don’t call staking rewards “a profit opportunity”
      3. Focus advertising on network participation and security
      4. Don’t indicate the service provider has control over inflation rate
      5. Don’t provide guarantees on staking rewards

      Stake Economics: {in}finite rainbows

      The article introduces stake economics and the mechanics behind the DAO Baker protocol. It is an autonomous, fully permissionless protocol with no owner or administrator so operations can not be interfered with, altered, or halted in any way. It enables tokenized staked assets as fungible tokens that could be lent out, loaned, wrapped, or traded like any ERC20. It is designed to be fully functional with the existing Tezos protocol. It is highly recommended to read an article that introduces the staking management process behind the DAO Baker protocol.

      Liquid Staking Working Group

      The Recording from the last Liquid Staking Working Group call is live. It is a walkthrough of the research report draft. Watch on YouTube.

      New Ranking Dashboard of all Tezos Bakers

      Staking Rewards is now tracking over 100 Tezos Staking Providers with their respective estimated reward rates, performance, number of users, and total assets under management.

      Open Source Delegation Dashboard

      Chorus One open sourced the codebase for Anthem, their staking platform bringing reward data to users of PoS networks like Cosmos, Celo, Oasis,  and others. Come check out the repo and try out Anthem with any Cosmos address (more to come soon).

      Proof-of-Stake or Proof-of-Work, That Is the Question

      An analysis of the advantages and disadvantages of the blockchain protocols that are the basis of the entire industry by Cointelegraph.

      The Kusama Approach

      An all-encompassing article about Kusama network by Ivor Jugo.

      Front running under PoS

      A Brief Review written by Andrey Sobol from Madfish Solutions. While the phenomenon of front running in proof-of-work blockchain is under research, front running possibilities within proof-of-stake blockchain are yet to be discovered. Front running research in PoS context can be complicated since it lacks general proof-of-stake protocol design. In this article, Andrey reviews two PoS designs and options for front running within them.

      Stateful Baking Accounts

      Stateful Baking Accounts. In one of the previous articles, the limitations of the current state of baker keys and its effect on the network were explained by Metastate team. Additionally, as possible ways to address the current limitations, they described enhancing baking accounts and two of its possible design paths that were under exploration: feature design path A) or Baking Accounts, and feature design path B) or Programmable Staking. After the analysis and taking the community feedback that Metastate received across multiple channels into consideration, they has focused the research and engineering efforts in pursuing feature design path A) or Baking Accounts henceforth referred to as Stateful Baking Accounts. In this article they described the specific implementation of Stateful Baking Accounts, which has been further refined from the feature design path A) that was briefly described in the previous article. Moreover, this article details what Stateful Baking Accounts would enable and how it would achieve it.

      Our Network: Issue #21

      This Edition of the on-chain analytics series covered 3 of the biggest PoS networks with Cosmos, Decred and Tezos.

      Cosmos by Chjango Unchained, Director of Community at Cosmos

      Game of Zones was initiated in the first week of May. There were 183 registrants with ~130 who successfully spun up testnet chains to make IBC connections at the beginning of the games. Teams and connections visualizer can be seen below (source). However, after a software upgrade, a fatal bug crashed the incentivized testnet game. A postmortem of the event can be read here. The next phase of Game of Zones is restarting May 18th after the bug fix is merged into the software.

      Cosmos governance is on its 25th proposal—and a rather significant one, at that. Prop 25 seeks community approval for CosmWasm to be integrated into the Cosmos Hub. If passed, it will enable faster feature integration for the Cosmos Hub post-IBC launch and will introduce a constrained form of smart contracting on the Cosmos Hub. Voter turnout is so far at 32% with a 99% Yes vote (source).

      Decred by Checkmate, Decred contractor

      The Decred blockchain has a consistent baseload of demand for block-space, a result of the PoS ticket system and, more recently, on-chain CoinJoin privacy transactions. 

      An interesting metric to gauge stakeholder governance power is to look at how much Treasury value is governed by each ticket in the PoS pool. The chart below presents the Treasury balance divided by the count of tickets in the pool (red), showing that each ticket commands decision making power of around 15.5 DCR. If divided this by the purchase price of a ticket denominated in DCR (blue), governance power typically represents around 11% of the ticket value. Given tickets vote on average every 28 days, this means governance power on an annualized basis is equivalent to 143% of a typical ticket in value.

      Tezos by Alexander Eichhorn, Founder at Blockwatch Data

      Staking: Tezos’ network-wide staking ratio reached a new ATH of 80.11% in mid-May while staking yield fell to its all-time low of 0.94% with an inflation rate sitting at 5% currently. This number reflects the true past inflation, i.e. the total amount of coins generated over the past 365 days (39,77M tez) vs. the total supply that existed a year ago. Absolute inflation in Tezos is almost constant, so inflation rate slowly decreases over time. However, since the amount of coins generated per block is dynamic to discourage attacks the future inflation rate may fluctuate slightly.

      Custodians: The trend towards custodial staking in Tezos is still unbroken, yet has slowed down significantly in Q2 so far. Coinbase gained another +13% month-over-month (+8.2M tez) and is now controlling 11.2% of the Tezos network consensus. The top 5 exchanges combined hold 18% of total supply in staking alone and more in non-staking wallets.

      Loyalty: Tezos is all about DPoS and its community is very close-knit so it was interesting to visualize the behavior of delegators over time. The focus was on the number of new delegators per month (black bars) and the average time those delegators who switch baker or sell their stake actually keep their initial baker (blue bars). Each month represents an individual cohort of delegators. It is seen that a genesis wave of staking occurred during the first 4 months, then a second wave followed with the price surge in Spring 2019 and a third much larger wave followed in Nov 2019 when custodial staking opened. Long-term hodlers who dominate Tezos are very loyal to their bakers: out of the 35.5k currently active delegators 27.5k (77.5%) have never left. Overtime only half of all delegators became disloyal at all and only 14% have switched baker multiple times. Delegators who leave eventually stick on average of one year, but with new cohorts this number is rapidly decreasing.

      Ethereum 2.0 Staking Ecosystem Report

      Mara Schmiedt, Georgia Rakusen, and Collin Myers from ConsenSys Activate – ConsenSys has conducted a wide-ranging quantitative user research study to drive the industry’s collective understanding of ETH holders’ behaviors, motivations, needs, and pain-points when it comes to staking on Ethereum 2.0.

      This report aims to inform key design and product considerations to encourage the broadest possible participation from different user personas, while providing informative analysis and strategic recommendations for protocol teams, client developers, and third-party staking providers. The findings indicate that education, trust, incentives, value-added features, and potential risk mitigants play a critical role in driving confidence and adoption among existing ETH holders.

      Respondents were categorized based on their participation preferences for Eth2 staking, enabling the identification of common and diverging goals, needs, and characteristics. The four primary participant behaviors determined from the survey are outlined above.

      To recall, Ethereum 2.0 is planned to roll out in three phases: Phase 0, 1, and 2. Phase 0 is scheduled to launch in Q3 2020 with upgrades to Phase 1 and 2 released in the coming years.

      As it was previously mentioned, the research analyzed the industry’s collective understanding of ETH holders’ behaviors, motivations, needs, and pain-points. One of the points to reveal was to understand staking preferences. Out of all 287 responses, ~33% intend to run their own validator node(s), ~33% intend to use a third party staking service, ~17% are undecided and ~3% do not intend to stake. In addition, ~17% of responses only partially completed the survey, but indicated wishing to run their own validator node(s)2.

      Among the respondents who intend to run their own validator nodes, when asked about using a staking service provider, ~20% said they would be interested in using a staking service instead of running their own nodes. For the 17% who are undecided about how or whether to stake their ETH, ~35% would be likely to use a third party staking service if made available.

      It is worth reading the original paper, nevertheless, some of the highlights about their major findings are to be found below:

      Almost two thirds of respondents who intend to run their own validator node(s) indicated their preference to participate during the initial go-live phase (i.e. Phase 0). In addition, ~17% plan to participate in a subsequent Eth2 phase, while ~19% were undecided.

      Answering the question ‘How much ETH do You intend to stake?’: respondents who plan to run their own validator indicated an intent to stake ~51.5% of their existing ETH holdings on average, excluding those who preferred not to disclose.

      They asked participants who plan to run their own validator node(s) what percentage in ETH rewards would make it worthwhile for them to do so. For people who will run their own node(s), half are hoping for 5–10% returns [average 5.8%] in order for it to be worthwhile. Based on the estimated network rewards for a single validator from 524,288 (genesis) to 5MM ETH staked (20% – 6.7%), these would-be validators should feel incentivized enough to participate.

      To learn more, read an original article.

      You can also read a great coverage of Eth2 & Staking Ecosystem Report by Staking Facilities, highlighting the main insights of the research paper above. 


      Live Staking Network Updates

      Critical Reliability Update for all Tezos Nodes

      Nomadic Labs released a critical reliability update for all Tezos nodes. It fixes a bug in the bindings of an external C library. This bug can cause nodes to crash with a segmentation fault. They released version 7.0 which contains the fix. This node can now be used with any network, including Mainnet (the default network), test networks such as Carthagenet & new test networks that will come in the future. For more information including update instructions please visit the official documentation page: Version 7.0 — Tezos (master branch, 2020/05/11 22:54).

      Beginner’s guide to Tezos TZIP-7 proposal.

      This article will guide through fungible tokens on the Tezos blockchain by building a smart contract to create them, store them and transfer them using Ligo programming language (and its ReasonLigo flavor) so you can have a better understanding of what they are and how they are set to revolutionize the Tezos blockchain.

      Tezos Stable Technologies Announces Defi Partnership with Leading Security Token Issuance Platform.

      USDtz is not just your average stablecoin. It is part of a Decentralized Finance (DeFi) ecosystem that is about to be released in phases on Tezos blockchain. Therefore, USDtz is being launched as a security and will need to be released through a platform that can enforce regulations.  TokenSoft has been a reliable partner to Tezos Stable Technologies, Ltd., having facilitated onboarding for Tezos holders since the days of the Tezos crowdsale. With this announcement, TokenSoft appears to be aiming to solve a growing challenge in the security token and crypto industry, where the user experience in retrieving and holding digitized assets tends to be complex. 

      Daily Cosmos Outpost

      The Cosmos Outpost Explorer indicates 7.0% Inflation and 71.5% being Bonded on May 15.

      3 updates on phase 1 of Game of Zones

      The Scoreboard, Hub Capacity Issues, and Judging Criteria

      1. The GoZ Scoreboard has finally arrived. (Scoreboard: Client Update By Relayer Scoreboard: ICS 20 packets by Relayer) This tool, which relies on Sagan and the Relayer for visibility into participant performance, will be an important source of truth throughout Game of Zones. While the dashboard is integral for judging the first two phases of the competition, it is important to note that the data and metrics being displayed are not ranked by performance. 
      2. Several capacity issues impacted the GoZ Hub. In response to these issues, the GoZ and Iqlusion Teams have used the toolset built into the distributed network to alleviate some of the congestion they anticipated during contingency planning. 
      3. One of the main goals of Game of Zones is to stress test multiple components of the IBC Network and the software that it runs on.  To honor the spirit of the rewards of the competition, the GoZ team has committed to adjusting the scoring criteria when necessary to correct for technical issues that arise on the hub.

      Game of Zones Phase 2 has been launched.

      The Competition Timeline is available via the link:

      1. Phase 1b will begin Monday, May 18th at 7:00am UTC, and will end on Thursday, May 21st at 6:59am UTC.
      2. Phase 2 will begin Monday, May 25th at 7:00am UTC, and will end on Friday, May 29th at 6:59am UTC. 
      3. Phase 3 will begin on Monday, June 1st at 7:00am UTC, and will end on Friday, June 5th at 6:59am UTC. 

      New Delegator Assistant prototype tool for Cosmos

      The new Delegator Assistant is developed by the Protofire team.

      Celo Gold Auction Sells Out on CoinList

      The oversubscribed cGLD auction raised $10M from the community and introduced a diverse set of participants to the Celo ecosystem. The auction was designed to maximize global engagement by having a minimum buy-in of $100, offering referral bonuses, and hosting AMAs and events in emerging markets, with the goal of diversifying participants and increasing access.

      Ankr together with 21 other organizations will join Celo Alliance

       The recently announced Celo Alliance for Prosperity, part of the non-profit Celo Foundation, formed by a community of mission-aligned organizations working together to create a future where everyone can prosper. The initiative has 70 members lined up to fostering social impact and financial inclusion through blockchain technology.

      1. Ankr will provide one-click deployment and affordable node hosting solutions for Celo nodes and Dapp developers
      2. Ankr will leverage its node hosting solutions and global network to further strengthen and decentralize the Celo network
      3. Ankr and Celo will explore the possibilities to add Celo Dollars as a payment method on the Ankr platform and add ANKR token to Celo’s reserve

      Read the full news here.

      Kusama Results of DOT Redenomination Referendum

      A referendum was just held on Kusama regarding whether or not to redenominate DOTs on Polkadot in a 1:100 ratio. Web3 Foundation used this referendum to gauge sentiment from the community before the launch of Polkadot. The referendum, detailed on Polkassembly, would change the number of Plancks that constitute a single DOT. (Plancks are the smallest unit of account in Polkadot, much like Satoshis in Bitcoin.) Informally, had the referendum recorded very little dissent, it is likely that Web3 Foundation, in its central role over the initial network launch, would have stood behind the redenomination proposal. However, given the non-negligible amount of opposition, including from some within the ranks of Web3 Foundation and Parity, the Foundation decided that they cannot, in good faith, sponsor redenomination at present.

      The-first-of-its-kind KSM StakeDrop

      Phala Network, a confidential smart contract blockchain aiming to be the confidential layer of Polkadot ecosystem, launched KSM StakeDrop as its wave airdrop event on May 15. Also, in the near future, Phala will be a parachain of Kusama Network.

      ICON Preps network visualization

      Everstake has posted an interesting ICON Preps network visualization. New update soon – http://iconvotemonitor.com

      Bitcoins coming on EOS with pBTC

      Provable announced the launch of pBTC on EOS as well as on Ethereum. In this way Bitcoin holders will also be able to use their BTCs within the entire EOS ecosystem. pBTCs are a form of pegged token 1:1 with Bitcoin. Users can “peg-in” their Bitcoins to receive pBTCs on the EOS mainnet, so they can use them on any dApp. They can then peg out at any time and withdraw their Bitcoins.


      Upcoming Networks Update 

      Source: Staking Rewards’ Launching Soon Dashboard

      There are currently still over 20 Proof of Stake Networks that are being expected to launch within 2020.

      Highlighted Events

      A short list of upcoming events by ICO Analytics and important development milestones you should know about.

      Expected Smart Contract Platform launches

      Source: messari.io

      Matic Mainnet is Going Live

      Announcing the Launch Sequence.

      Matic Network is a blockchain application platform that provides developers with the ability to deploy applications with faster and cheaper transactions while still maintaining a high level of security, by utilizing a novel combination of hybrid Proof-of-Stake and Plasma-enabled sidechains. Counter Stake is Matic’s experimental testing event for everyone wishing to participate in the Matic network, by validating, testing the network’s limitations and earning mainnet MATIC tokens by showcasing technical skills. Counter Stake allows one to compete with other validators on the testnet and earn rewards. Counter Stake comprises of 3 stages:

      1. Stage 0 (Status: Complete): Stage 0 was initiated in November 2019. In this stage the objective was to get familiarised with setting up a node for Matic. This would later be a foundation for Stage 1 once the community was familiarised with the process, components and requirements.
      2. Stage 1 (Status: Complete): It has started on February 13, 2020. Stage 1 was where they tested out running the actual blockchain. There were 300+ registrations for Stage 1 and they onboarded more than 150+ validators through 6 testnets. The current testnet, CS-2006, is running with 100 Validators.
      3. Stage 2 (Status: Ongoing): Stage 2 has now begun. The current testnet, CS-2006, running with 100 validators, has been carried over to Stage 2, and this testnet has been running for 3+ weeks.

      At this stage they will be encouraging validators to:

      1. Test the network for resilience against explicit exploits that take down the network
      2. Try to successfully execute an economic attack and find bugs in the system/code

      More info you can find here and here.

      Announcing NEAR Protocol’s MainNet Genesis

      This release, called “MainNet: POA”, is the first major release on the path to NEAR being the first fully sharded, fully operational proof-of-stake blockchain platform to run an open MainNet.  This release represents the beginning of a multi-phase rollout of the platform over the upcoming months, as it was detailed in The Road to MainNet and Beyond (we gave a brief look at it in our previous State of Stake digest).

      It was also announced that Near Protocol has closed another $21.6M USD private fundraising round. The token funding was led by Andreessen Horowitz’s a16z fund. It’s the fund’s first investment after the firm announced April 30 that it had raised $515 million for its second blockchain and cryptocurrency fund. Other investors included Pantera Capital, Libertus, Blockchange, Animal Ventures, Distributed Global, and Notation Capital.

      Kyber to Offer Delegated Token Staking After Coming Network Upgrade

      A new partnership with StakeWith.US, a Singapore-based blockchain infrastructure firm that provides staking services, is expected to provide “greater flexibility” for stakeholders and community members by increasing their control over decision-making, Kyber said.

      Holders of Kyber Network Crystal (KNC), an Ethereum-based (ERC-20) token, will be able to delegate their tokens and voting power to StakeWith.US’s staking pool, ATLAS, when the network’s Katalyst upgrade is completed by the end of June.

      You can also read Kyber Ecosystem Report #14, which includes network stats, Kyber Katalyst and DeFi updates, new Kyber DApp integrations, and a lot more.

      KEEP staking is now live

      Keep Network shared in their Twitter that “the random beacon is live on mainnet, and stakers are delegating”. Moreover, an article was released, highlighting Playing for Keeps Kicks Off with First Three Judges Announced – Zaki Manian, Spencer Noon, Viktor Bunin will be the first to award KEEP tokens for contributions adding the most value to the network. Playing for Keeps will run during 2020 including during the public stakedrop that starts on June 8th. In fact, a major part of the initial stage of Playing for Keeps is the buildup to the stakedrop, which lets ETH holders earn KEEP by proving their ability to secure the Keep network.

      Explaining the Polkadot Launch Process

      The Polkadot network will have a phased roll-out plan, with important milestones toward decentralization marking each phase. For more detail on each step in the process, watch the explanation from Polkadot and Kusama founder Gavin Wood.

      SKALE Validator FAQ 

      The SKALE Network is a configurable network of elastic sidechains that supports high-throughput and low-latency transactions without the high transaction costs found in public mainnets. The network offers expanded storage capabilities along with embedded connectivity and interchain messaging with the Ethereum mainnet and other sidechains and subchains. All of this is performed using a pooled transaction validation and security model that is efficient, scalable, and collusion-resistant. You have a chance to learn more via the link above.


      Staking Provider Updates

      Staking Economy: #38: Interoperability Incoming –

      A newsletter supported by Chorus One. This time it features Game of Zones and Cross-Chain Privacy, Eth2.0 Consensys Staking Study and Testnet Progress and other crucial network updates. 

      Chorus One Receives Web3 Foundation Grant to Bridge Polkadot and Cosmos Ecosystems.

      The team will develop parts of a bridge that will enable Substrate and Cosmos SDK-based blockchains to interoperate as part of the fifth grant cohort. Such interoperability will allow, for example, a user on a Cosmos SDK blockchain to move TerraUSD coins to Substrate chains to take advantage of applications in the Polkadot ecosystem. What’s more, Chorus One participated in the decentralized launch of the first Free TON testnet. To learn about the project activity more preecisely, check their Monthly Update (Apr 20).

      Matic introduced Staked as its next independent validator.

      Staked will be operating a Validator node for Matic Network, enabling $MATIC holders to delegate their tokens to Staked. Earlier Stake Fish and Stake Capital have become Matic staking partners.

      BitMax rolls out xDAI (STAKE) pre-staking program

      BitMax.io will roll out a 3-month pre-staking program with xDai (STAKE) to provide BitMax.io users a first look at STAKE token open-staking. This program will serve as the official launch of “StakeVault,” a novel pre-staking initiative from BitMax.io to provide sandbox infrastructure for Proof-of-Stake projects and test token-economic design before launch of staking.

      Elrond Staking Tools to be Available in Frontier Wallet 

      Tools related to the Elrond Proof of Stake environment, such as validator staking, delegation and rewards management, will be available to Frontier users. With Frontier Wallet integrating the Elrond ecosystem, innovative finance products deployed on Elrond — the first sharded blockchain architecture — will get even broader exposure to relevant users. The integration is still work in progress so Elrond products are not immediately available in the partner’s app.

      Blockchain node provider Blockdaemon raises $5.5 million in new funding

      Blockchain node provider Blockdaemon has secured $5.5 million in funding from prominent investors like Hashkey and Fenbushi Capital. The New York-based company is set to use the new investment to expand into the Asian and European markets. The company will use the fresh funds to expand into new markets in Asia and Europe.

      Tezos Bakers Overview

      A guide by Stakin going over all the different bakers inside the Tezos Ecosystem including Tezos-only bakers, multi-asset staking pools, and Tezos exchanges. Stakin team also shared a quick Introduction and overview of Solana, Regen Network — guide & overview, and a guide to Tendermint.


      Upcoming Staking Events


      Citadel Updates

      Citadel is a multi-asset non-custodial platform for the management and storage of crypto assets established by Paradigm Fund. One of the main functions of the service is participating in the PoS consensus. The platform allows you to delegate crypto assets, analyze market conditions and transaction status, as well as create several cryptocurrency wallets using a single seed phrase. Moreover, the software part is configured so that all private keys are stored encrypted on your device. Currently, the Citadel project is under development. 

      According to the last biweekly update

      Source: GitHub + GitLab metrics

      The Citadel project is under development. The team is operating extremely hard on the major releases as a very significant milestone is about to happen. Ledger integration for ICON and ERC20 tokens coming soon as well as the launch of the stable version of Citadel 1.0! The good news is, the Citadel team was replenished with a quality assurance specialist to improve the quality of the product. 

      We never cease to wonder at the progress the team has made in recent days! According to the recent Citadel development report, the service works much faster and more stable than before. The initial task of fully deploying the system on a single server without intermediaries has been completed. As for additional back-end tasks, transactions can now be filtered by the types “Sent“, “Received“ and “Transaction error“. As for front-end tasks, algorithms for many wallets, import and export for Tezos, ICON, IOST, and Ethereum (Orbs) have been improved. Tezos was integrated. A fancy panel loader was made. The settings page was modified. In analytics, you can now quickly see the QR code of the wallet. The list of nodes for staking was grouped into categories, the ability to collapse charts was added.

      As for the social side, The Citadel team regularly attends community events. Last week, they were at Liquid Staking Working Group call, on IBC ecosystem working group call and the Ethereal Virtual Summit. Also, these weeks, the Citadel team presented roadmap paper for ICON, one of the largest blockchain networks, which decentralized network allows independent blockchains with different governances to transact with one another without intermediaries.

      Learn more about Citadel:

      1. Citadel Telegram chat
      2. Citadel Twitter page

      Check the recent biweekly updates on PoS Networks, created by Paradigm Fund:

      1. Tezos
      2. Orbs
      3. Cosmos
      4. Theta
      5. ICON
      6. IOST
      7. Ethereum
      8. Cardano
      9. Polkadot
      10. Chainlink
      11. Algorand