Despite the recent setbacks, the staking market is growing!
We have hit a significant milestone for the industry with over 4M unique staking wallets across blockchains. 4M Wallets or to put that in perspective 0.05% of the world’s population. If you read this, congratulations! You are early to one of the most groundbreaking changes in the history of humanity. We are rebuilding the economy and finance and got a growing budget of $30bn annualized rewards already.
In addition, there are continuous massive capital inflows from the traditional economy, with this week FTX announcing a massive $2bn venture fund, and NEAR foundation closing a $150M fundraising round.
While NEAR made the news of this week with their fundraise and stake farming program, the protocol saw tremendous NEAR value unstaked with over $900M in the last week.
The biggest staking networks Cardano and Solana seem also matured and people have unstaked around $200M in each.
The biggest staking inflows we have monitored from the alternative layer 1 chain Avalanche with over $500M in the last week. Avalanche takes a fundamentally different approach to other blockchains with an alternative consensus layer. At the same time the protocol is EVM compatible, which allowed the rise of the first stablecoin exchange to over $700M in the last week.
At Staking Rewards we believe there are only two ways to scale the crypto ecosystem. Via an Interchain world of connected blockchains (Not via trusted bridges, but native interoperability like in Cosmos). Secondly, via Layer 2 and Rollups. We expect a significant rise of Layer 2 blockchains in 2022. At Staking Rewards we are particularly looking forward the mainnet and staking launches of Starkware and Arbitrum in this year
Both theses are confirmed in this week’s staking inflows to Cosmos, and Polygon. The data suggest long-term investors moving into the game.
So let’s look into the data and news of the week in detail below.
Staking at a Glance
Global Staking Research
- Crypto Exchange FTX Sets Up $2 Billion Venture Fund.
FTX Ventures will invest in crypto startups across sectors Read more.
- Near Protocol has announced Stake Farming for Ecosystem Rewards
Stake farming contracts will allow validators to distribute more than one token to delegators that help secure Near Protocol. Read more.
- Near Protocol has raised $150 million
The round was led by Three-Arrows Capital with participation from several crypto-native funds including Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures, Circle Ventures, and MetaWeb.vc — the NEAR ecosystem fund. Read more.
- Stargaze Airdrop Claiming is now live
The official UI and the claiming proposal went live. The airdrop is worth $150M at current prices. Read more.
- Stader Labs will conduct Token Sale on CoinList
Stader provides smart contract infrastructure for staking, helping users stake their assets conveniently and safely through its platform by building key staking middleware infrastructure for Proof-of-Stake networks. Read more.
- Orbs Protocol Upgrade Proposal for Multi-chain Staking on Ethereum and Polygon
The Orbs team proposes utilizing Orbs hybrid architecture and cross-chain properties to deploy multi-chain Orbs PoS staking, starting with the Polygon network. Read more.
- Ethereum Reaches a Staking Milestone with over 9M ETH deposited
Meanwhile the top four staking providers on the Ethereum 2.0 Beacon Chain now cumulatively account for 47.5% of total deposits, with Lido making a significant jump. Read more.
- New $BNB staking ATH on BSC with 19.4 million BNB
Binance Smart Chain reaches new All time high for staking participation. 86.4% of total BNB supply on BSC are now being staked. That represents 11.74% of all BNB in circulation. Read more.
- Warp Bond re-envisions the OHM Protocol as a staking metaverse.
WARP adds DeFi gamification elements to OHM Protocol by offering multiple staking pools you can travel to represented as planets in their metaverse. These planets are only accessible by building NFT starships through bonds. Read more.
- Stacks achieves milestones to enable Web3 on Bitcoin
Stacks blockchain (STX), which seeks to make Bitcoin (BTC) programmable, the network achieved over 350 million monthly API requests, 140k NFT mints, 40,000 Hiro (development tool for Stacks to build applications on Bitcoin) wallet downloads, and 2,500 Clarity smart contracts. Read more.
- ICON announced $200M Interoperability Incentive Program
ICON Nexus; the first product built, using BTP technology. Incentives will include boosting yields for specific BTP wrapped assets and establishing partnerships with dApps on BTP integrated blockchains. Read more.
- Injective Protocol completed the biggest supply burn to date
The 5th $INJ burn is completed with over 58k. Read more
- The first stablecoin exchange on Avalanche is live with over $700M TVL in the first week.
Platypus DeFi is a Stableswap with novel single-sided liquidity provisions. Platypus has launched in beta and with tons of liquidity mining incentives. Read more.
- Terra and Sol Invictus join forces on a new bond offering
Invictus will offer UST bonds, with a new partnership between Invictus DAO and Terraform Labs. Read more.
- StakeWise TVL milestone
Over 30,000 ETH is now staked in the StakeWise Pool, which makes it the 5th biggest Liquid Staking Provider on Ethereum. Read more.
- Injective’s INJ Yield Farming is Now Live on Solana
Solana users will now be able to farm INJ tokens through the wINJ Covered Call vault on Katana as InjectiveLabs & Katana get into a treasury management partnership Read more.
- Lido DAO approved the addition of 8 new Node Operators for ETH
Wave 3, Following an open application round, the Lido DAO has approved the addition of 8 new Node Operators for our Ethereum set, with mainnet onboarding to be finalized in the coming days. Read more.
- First DEX on Oasis Network hits $100M TVL in 24 hours
Oasis Network’s YuzuSwap has attracted over $100 million in TVL within a day of launching. Currently, liquidity miners can profit between 800% and 21,000% on four incentive token pairs. Read more.
- The Lending Protocol Scream hits $750M TVL on Fantom
Scream is a highly scalable decentralized lending protocol powered by Fantom. Check on Defillama.
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Hot upcoming events calendar
- Dusk Network will launch first public testnet on 01.02.2022. Read more.
- Kava will upgrade mainnet to IBC support on 19.01.2022. Read more.
Meme of the Week
Staking Rewards Insights
Latest Asset Integrations:
The Graph is an indexing protocol and a global API aimed at organizing blockchain data, while making it easily accessible via GraphQL. Developers can use Graph Explorer to search, find, and publish all the public data they need to build decentralized applications.
Currently, 25.88% of the total eligible supply are being staked and stakers earn around 10.04% annualized while delegating their assets. Become An Indexer and you could earn as much as ~19% per year.
$GRT Staking Stats as of Jan 18th. Visit the asset profile for more info.
For the full list of assets on Staking Rewards, visit our Cryptoassets Page.
On Monday, we spoke with Jacob Blish, Head of Business Development at Lido. Lido is a liquid staking solution for Ethereum. Lido lets users stake their ETH – with no minimum deposits or maintaining of infrastructure – whilst participating in on-chain activities, e.g. lending, to compound returns.
In this episode, we gave away another $5k worth of crypto, this time $LDO tokens. That is $13k so far on Staking Mondays!
Watch the full episode here!
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