What happened in the Staking Space from 26th to 1st October?
It has been an exciting week full of news and updates in the Staking Space. So we are glad to present you the second fully loaded 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. The news is being curated by Mirko Schmiedl, Co-Founder at Staking Rewards and Rina Spasenkova, Marketing Lead at Citadel.One.
Citadel.One is the sponsor of the Staking Rewards Report.
Staking Rewards Report TL/DR
- Skale Network has launched
- Akash Mainnet is live
- The first Uniswap-Style DEX on Tezos
- NEAR Mainnet Phase 1 – fully community governed
- Filecoin Mainnet on 15th October
…And many more!
Staking Market Overview
Total Value Participating in Staking (7d change):
14,090,309,082 USD (-0,78%)
Top 7 Coins by Value participating in Staking (7d change):
- Polkadot: $2,688,601,136 USD (-5.90%)
- Cardano: $1,749,080,645 USD (-1.99%)
- Tezos: $1,516,491,015 USD (-4.58%)
- EOS: 1,463,290,884 USD (-2.85%)
- Algorand: $1,194,538,277 USD (+0.60%)
- Cosmos: $904,191,399 USD (+6.37%)
- Band Protocol: $552,386,027 USD (-12.50%)
- Synthetix: 470,731,742 USD (-4.24%)
After being live now for 17 months on mainnet, Terra has established itself as an attractive source for non-dilutive revenue for validators. Currently, 54 validators from 18 nations provide security to the Terra network. Total delegations have increased from 172 million LUNA in December to now over 298 million LUNA, an increase of 73% in delegated tokens. A significant concern for any Proof-of-Stake network is the concentration of delegations with just a few validators. Terra has, therefore, made it a high priority to promote new validators and those with little delegation. The result is that the concentration of the top 10% and the top 20% of all validators has continuously declined over the last six months.
A new blockchain protocol helps delegators in proof-of-stake protocols to mitigate slashing risks — their exposure to financial penalties whenever a validator fails to meet a network’s reliability requirements.
Blockchains are incentive machines, each with its own token economy. This opens up to multiple ways how various entities (VCs, custodians, banks, enterprises, retail investors) can participate in these networks in exchange for yield. The industry around providing blockchain infrastructure is growing rapidly with big checks as well as some big name entries. An ultimate Web3 infrastructure powerhouse would be a fund + IT service company + (traditional player), potentially as a partnership or as a single entity.
Live Networks Updates
SKALE had nearly 700 requests from validator teams all over the world. On October 1, 2020 the network launched with validators that were selected and approved for Mainnet Phase 2.
- Top 27% (17/64) of validators have ~2/3 voting power
- Bottom 73% (47/64) have over 1/3 voting power (enough to veto)
- The smallest validator has 0.49% voting power
This proposal is running until 13th October to signal acceptance/rejection of the precise software release that will enable you to use the same wallets / private keys / mnemonic to access your accounts. Every delegator and token holder on BandChain has voting power based on the tokens that have been staked on the mainnet network.
Staking SCRT helps secure our network and lets you participate in community governance. With rewards currently above 30% annually, now is a great time to learn how to stake your secrets.
Additionally we have also fully integrated Secret Staking Data, Info and Validators on Staking Rewards. Learn more and calculate rewards here.
To accelerate $USDC growth, Matic is enabling USDC on the Layer2. This will remove the scalability barriers of Ethereum, enabling the exchange of USDC at speeds of ~7.2k TPS with negligible costs.
Cosmos Stargate-3 Testnet is the upgrade readiness testnet for the Cosmos universe. The three critical reasons why Cosmos infrastructure players need to test the latest version of Stargate Testnet with mainnet coming:
- You want to signal your readiness to the Cosmos now
- You want to create Cosmos assets today
- You want to verify whether Amino to Protobuf May Break Your Integrations
For this update the dev team has the first end-to-end working bridge flow. Validator set updates are generated, signed, packaged, and submitted to the Althea Peggy Ethereum contract.
Ankr will provide their open and stable API service to facilitate development of the StaFi browser, wallet and other DeFi tools. Moreover, they developed a string of node deployment applications for StaFi validator nodes, which is a cost-effective and useful node delegation solution for StaFi node operators.
Dexter is a non-custodial decentralized exchange. Specifically, it is a constant product automated market maker, similar to Uniswap. As of launch, tzBTC and USDtz are the two FA1.2 tokens available to trade on Dexter.
The NEAR Foundation has spun down its nodes, making the NEAR Protocol MainNet fully community run. The transition to Phase I means that the network is now community operated but it is still technically restricted from allowing token transfers between participants and there are no block rewards being offered. The first task of this new set of community operators will be to exercise their governance power to vote to enable each of these things, which will transition the network into its final stage, “MainNet Phase II: Community-Governed.”
COTI-X is COTI’s liquidity pool and fiat on-ramp. COTI-X is the instant settlement layer of all forms of value on the COTI network for users, consumers, and merchants alike and is powered by the various COTI-X liquidity pools. COTI-X enables COTI to process instant settlements on ANY cryptocurrency processed via the COTI network.
To-Be-Launched Networks’ Updates
- Phase A — No deposits or withdrawals. Airdrop tokens into L2 Goerli and allow participants to mint & burn sUSD, and claim staking rewards.
- Phase B — Deposits enabled. Airdrop of L1 Goerli SNX to participants. Users can now increase their staked SNX if they perform a deposit.
- Security Drill — Upgrade OVM Contracts to add verification abilities. We’ll actively commit fraud and reward the users who successfully submit a fraud proof!
- Phase C — Withdrawals are enabled. Participants must perform a successful withdrawal to receive their testnet rewards on mainnet.
This release introduces the atto photon, the token used on Ethermint’s EVM module. Chain identifier’s format has been changed to match the Cosmos chainID standard, which is required for IBC. The epoch number of the ID is used as the EVM chainID.
This is the last major milestone before Mainnet. A fully featured version of the Oasis Network with the ROSE token, but with transfers disabled. Mainnet Beta will follow shortly after the dry run, assuming there are no major hiccups.
NuCypher is a data encryption and protection layer for ETH to empower privacy in decentralized systems. NuCypher has raised $15M USD during private fundraising and closed its public token distribution via WorkLock recently.
Stakers (risk assessors) will deposit NXM and stake on contracts that they think are secure and this, in turn, allows other members to purchase smart contract cover on that system. Stakers are liable for their staked NXM to be burned if there is a successful claim on that smart contract system. But as a reward for staking 50% of every cover purchase price is distributed proportionally among the stakers.
Next Stop: Gateway Mainnet Launch on Oct. 15th!
- Supports Harvest money-market.
- Supports borrowing on Kava for BTC, XRP, BUSD
- Supports lending on Harvest for BTC, XRP, BNB, BUSD, & Kava native assets.
The Turing-3 incentivized testnet program begins on the 1st of October, and concludes at 12 PM UTC on the 17th of October. Validators who committed over 2 Million blocks on the previous Turing-2 testnet will receive 1 million SENT tokens each for their participation and support for the chain.
Stkr introduces the unique concept of Micropools, allowing people with less than the required stake amount of 32 ETH to participate in a hosting pool, earning rewards proportionate to their staked amount. Stkr is initially going to support the upcoming Ethereum 2.0 protocol, allowing users to run Ethereum 2.0 staking nodes on Stkr, but will later be extended across other platforms such as Polkadot, EOS and Binance Chain.
Now developers can test the Ethereum compatibility features of the Moonbeam network with their decentralized applications without needing to run their own nodes or host their own network.
Mina deploys recursive zk-SNARKs to ensure the blockchain remains the same size — 22 kb — enabling anyone to sync the chain in seconds, ushering in a new era of blockchain accessibility. Mina’s adversarial testnet launches later this year, which offers participants an opportunity to win token rewards for uncovering network vulnerabilities
The blockchain-based storage provider expects the mainnet to launch at block 148,888 – approximately October 15th. More than 400 miners from around the world participated in this month’s “Space Race” testnet phase where network data capacity increased by more than 325+ pebibytes. 3.5 million native FIL tokens – used to buy and sell storage on the network – will be distributed to Space Race participants.
The Decentralized Forex (DeFo) extension, launched on the Neutrino protocol on September 29, is available on Waves.Exchange, facilitating seamless swaps and staking of stable-price assets pegged to national currencies, indices and commodities.
Staking Providers Update
Among the features introduced to Cosmos holders, there are: non-custodial one-seed wallet, hardware wallets support, staking & multi-node delegation, exchange & fiat gateway and more!
The Activate UI has confused some users as to the state of their delegations. You will find this information in the Staking section of the Token Inventory tab in Activate. Check the 3-step guide.
How To Stake SKALE ($SKL) With Activate by Stakin team
Check a quick overview of SKALE digital assets and get guidance on staking.
Upcoming Staking Events
- 2nd October 2020 – Near Protocol token distribution will be completed
- 9th October 2020 – TezTalks Radio #11 – Gabriel Alfour on protocol update
- 15th October 2020 – TezTalks Live #13 – Blockchain-EZ on Digisign
- 15th October 2020 – The Substrate Developer Community Conference
- 26th October 2020 – TezTalks Radio #12 – Ecosystem Update
- 16th – 18th October 2020 – Liquidity2020 Virtual Summit
- 2nd-30th October 2020 — EthOnline hackathon
- 6th–7th November 2020— Virtual Trufflecon
- On Demand – Ethereum 2.0 – Implications for Staking, Fixed Income and DeFi
Staking Rewards Updates
Website Speed Improvements
The Staking Rewards has been working diligently to improve the website speed and performance. We will push out these changes today!
- Added Fantom Validators with their Balances and Users
- Reddcoin Staking updated reward: 28.55%
- NEM Data updated
- Elrond Delegator Staking Update