What happened in the Staking Space from 8th December to 15th December?
We are glad to present you the 12th Staking Rewards Report. Here we will provide a weekly update on all things Staking. A general overview of the market highlighted research in the space, news on all launched staking networks, updates on upcoming Staking networks, the latest developments from Staking infrastructure providers, and a handful of Staking-Related events.
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Staking Rewards Report TL/DR
- LUNA Stakers can claim $MIR airdrop
- Ethereum over 1.5M ETH being staked
- Lido raised $2M in funding
…And many more!
Staking Market Overview
Analyzing Staking Participation on the SKALE Network by Felix Lutsch
It’s been over 2 months since the decentralization of the SKALE Network (Thу Mainnet phase 2) began. With an unique approach of requiring participating investors to stake a minimum of 50% of their tokens for a period of at least 2 months ( Proof-of-Use), the SKALE team focused on attracting long-term supporters of the project, as opposed to speculators looking for a quick flip. In this post, Felix takes a look at a snapshot of the on-chain data that shines light on how SKL holders are engaging with the network now that the Proof-of-Use period has come to an end.
The long-anticipated launch of Ethereum 2.0 happened Dec 1. While this marks a historic point in the crypto industry and gives reason to celebrate, it also bears a lot of questions for every ETH holder, the validator community, and people watching from the sidelines. This is a recording of the ETH2-focused Proof-of-Stake Beacon Chain launch event organized by the Staking Economy team:
This is Part 1 of a two part series titled “The Rise of the Activist Validator”. Part 1 describes the current situation as author sees it. It explains why he sees a need for activist validators. Part 2 will describe why he feels the current situation could prevent staking networks from maximizing their longevity and value creation.
“Coinbase and Bitfinex have 5.8x more ETH than Kraken. Two exchanges could control 1/3 of the validators. Five exchanges could control 1/2 of the validators. Stake from home to avoid exchange fees and decentralise”
This event featured a full program of talks on all aspects of Polkadot by the teams who built the network’s core technology, as well as those building ecosystem parachains, applications, and cross-network bridges.
Elrond has developed a scalable, fast and secure blockchain platform for decentralized applications with smart contracts. The team recently announced a collaboration with ZeroSwap, a multi-chain protocol and Dex liquidity aggregator. ZeroSwap integrates its solution with the Elrond blockchain to provide zero-fee transactions for DeFi products. In addition, this collaboration will provide eGLD token holders with access to a wide range of DeFi products. And in this article they talk about the opportunities that Elrond opens up for the DeFi ecosystem.
Get acquainted with an interesting set of thoughts of validator voting power distribution and its implications by Chjango, On-Chain Researcher for Cosmos.
“With the majority of new accounts being created on exchanges, which, by the way, offer staking directly on their exchanges, those CEXs have become the largest validators in the Cosmos Hub. Binance is now the #1 validator on the Cosmos Hub by stake-weighted voting power. Binance itself puts up 0% of that voting power with its own ATOMs, which opens up misaligned incentives for Cosmos Hub. When a validator puts none of its own ATOM at stake, in theory, it has no skin in the game. Which means that if Binance Staking validator ever gets slashed, then the entire cost of the penalty is incurred by its stakers, not by Binance. So we’re seeing a small but existential crisis unfolding now which has implications for all PoS networks. PoS networks rely on properly incentivized validators (i.e. consensus nodes) to do their parts in progressing the chain or performing software upgrades, with the emergence of exchange-operated validators, who have shown to be “lazy stakers”, these exchanges aren’t actually participating in testnets or possibly even chain upgrades altogether. We observed this over the Stargate testnet, which is the IBC testnet that’s being used to battle-test IBC before being launched into production.”
Live Networks Updates
This immediately allows holders of ETH and certain ERC-20 assets to create “secret” versions of their assets as Secret Tokens and transact with them privately. Secret Tokens are powerful – they’re programmable like ERC-20s, but private by default like Monero and similar coins.
This proposal 31 introduces an upgrade to the Cosmos Hub governance module that would allow a staker to optionally split their votes into several voting options. For example, a single address could use 70% of its voting power to vote Yes and 30% of its voting power to vote No. Sikka is requesting 1776 ATOMs from the community pool to architect and to implement the Governance Split Votes feature proposed in Cosmos Hub Proposal #31. Learn more about the proposal via the link.
Bering Waters, a leading OTC, venture, and technology group based in Hong Kong, announced the “SOLAR Bridge,” a first-of-its-kind bridge linking Solana and Arweave. The bridge is now live and was entirely designed, built, and funded as part of Bering Waters commitment to the Solana and Arweave ecosystems. This bridge is a significant development in Solana’s continued growth, making it the first blockchain to move and store its transaction history on a dedicated storage network.
This post explains Kyber Network’s flexible reserve system and share how DeFi developers can create new reserve models to be deployed on the network to provide liquidity for a wide range of unique use cases. In order to enhance liquidity and capture greater value, it is imperative that the DeFi space is able to create new liquidity systems catered to different needs, and there is huge potential for Kyber to be the cradle for liquidity innovation.
Ava Labs, Roche Cyrulnik Freedman LLP, and Republic Advisory Services are bringing the $10B asset class of litigation financing to the Avalanche blockchain through the creation of a first of its kind token, the Initial Litigation Offering (“ILO”), a blockchain-enabled litigation financing product open to all investors.
Mirror Protocol is an exciting new DeFi platform powered by the Terra network that allows for the creation and trading of synthetic assets. On December 3rd, the Mirror Protocol team announced a fair launch that distributed MIR (Mirror Protocol governance token) to UNI token holders and LUNA stakers. Based on the current distribution model, LUNA stakers will continue to earn MIR overtime for the next year, and have the opportunity to earn additional MIR by participating in MIR LP staking pools on the Mirror Protocol platform. Learn more by reading below.
Upcoming Networks Updates
- 15th December 2020 – Blockstack’s Stacks 2.0 Mainnet Launch
- 17th December 2020 – NEM Mainnet Launch
- December – The Graph (GRT) Launch
- December – KardiaChain Mainnet Launch
- January – Kira Network Mainnet Launch
The value of the daily staking reward pool evolves according to the number of core channel nodes running and time since launch. The central idea behind the tokenomics design: incentivized to stake on nodes trying to become core channel nodes while keeping the existing core channel nodes in the network. This way the maximum amount of nodes possible will be reached according to the total number of staked tokens.
Marlin is a layer-0 protocol focussed on network-layer performance, security and robustness. Amongst its several applications, it speeds up block propagation to enable higher throughput. The Larvanet, expected to begin within a month, will mark the transition to a more accountable network with nodes required to stake MPOND. Staking rewards in the range of 10-15% have been earmarked for the same. Validators may refer to this link to begin early preparations to accept external delegations.
Marlin nodes require Marlin tokens to be staked to join the network and propagate blocks of different chains. FlowMint is a mechanism by which users with ATOM, DOT, IRIS, MATIC, NEAR etc can participate in the Marlin network and acquire Marlin tokens.20% of the genesis supply of Marlin token MPOND will be distributed to different blockchain communities over the next 24 months via FlowMint. FlowMint begins on December 15, 2020.
Staking Providers Updates
This guide highlights extended staking functionality of Citadel.one for ICON.
How to Deploy ThorChain BEPSwap on Akash DeCloud by Edouard Lavidalle of Stakin
DeCloud is a blockchain-based alternative to traditional cloud providers which brings several advantages and competitive pricing. In this article, you will see how to deploy ThorChain BEPSwap web UI using Akash. Many more Dapps can be easily deployed on Akash, as you can see in the Awesome Akash repo.
Lido said the round was backed by Semantic Ventures, ParaFi Capital, Terra, KR1, Stakefish, and Staking Facilities, among others. Angel investors, including Rune Christensen of MakerDAO, Stani Kulechov of Aave, and Kain Warwick of Synthetix, also participated in the round.
See Eth2 staking service providers list by stake.fish to learn more about other eth2 staking options.
Frontier is announced Native Support for Solana Blockchain on Mobile Interface. Check the guide via the link to learn more about the required steps for creating a Non-Custodial & decentralised wallet.
YieldScan is a platform which aims to simplify portfolio management to make yield optimization easier and more accessible on networks like Kusama and Polkadot while allowing the users to maintain complete control over their funds.
Upcoming Staking Events
- 17th December, 2020 – TezTalks Live #18 Alessandro de Carli
- 18th December, 2020 – IRIS Validator Show
- 8th January, 2021 – Akash Network Validator Show
- 22nd January, 2021 – Cosmos Validator Show
- 5th February, 2021 – Secret Network Validator Show (TBA)
- 23th-24th March, 2021 – TOKEN2049
Staking Rewards Updates
Improvements to the Portfolio Feature
You can now easily search and select providers for each asset in your portfolio.
Further Data Additions to the website