Hi there,
While the overall staking market decreased alongside the general crypto market, there has still been consistent net staking inflows on some networks. Led by Terra with $871M net staking inflow in the last week, and followed by Ethereum, Polygon, and Solana.
Terra, Ethereum, Polygon, and Solana show strength in terms of staking inflow, and thus make a strong argument for blockchains with real adoption and usage.
Noteworthy is that the number of unique staking wallets, increased by 2%, while Global Staked Value has decreased. It suggests that the change has been primarily driven by price movements, while more people are getting into staking, as the markets lose momentum. Furthermore proves the point that Staking is like a safe haven that is attractive for long-term investors during bull as well as bear cycles. Remember that the staking rewards earned today will also increase in price, and thus effectively boost your interest from staking significantly.
Alternative Layer 1 blockchains such as Avalanche, Near Protocol, and Cardano have lost momentum with $580M net worth of AVAX flowing out of the staking economy in the last week.
All the best,
Mirko
Staking at a Glance
Staking Intelligence
Global Staking Research
FTX’s Sam Bankman-Fried called for firmer regulation of crypto in a new interview
FTX founder and CEO Sam Bankman-Fried said the US should step up as a leader in cryptocurrency regulation and provide safeguards for digital asset investors.
Marshall Islands officially recognizes DAOs as legal entities
In a bid to become a global hub for the incorporation of DAOs, the Republic of the Marshall Islands has recognized decentralized autonomous organizations as legal entities, becoming the first sovereign nation to do so.
US Treasury Undersecretary Calls for “Urgent” Stablecoin Legislation
According to US Treasury Undersecretary for Domestic Finance Nellie Liang, technology companies that aren’t licensed as banks shouldn’t offer crypto stablecoins. Liang told members of the House Financial Services Committee that companies that issue tokens to allow people to pay for goods and services should be subjected to the same level of scrutiny that lenders are subjected to under US regulations.
Staked Crypto Increased 6% in 2021, Latest Data Shows
Institutional interest in staking has grown much in recent months, totaling 7.7% of the crypto market cap.
Staking Assets
Cosmos Ecosystem Quietly Surges to $17B in TVL in Challenge to Ethereum Layer 2s
By looking at other leading Cosmos chains like Osmosis, Cosmos, and Crypto.com’s Cronos chain, all of which were built using Cosmos’ SDK, it’s clear the entire ecosystem is actually the second-ranked in TVL terms by over $3B as of Feb. 17.
Injective Protocol (INJ) rallies 100%+ after launching cross-chain support for Cosmos INJ books a 100%+ gain shortly after the release of the Injective Bridge v2 and the launch of DEX-based perpetual futures for ATOM.
Cardano, Polkadot ETPs Hit Frankfurt Stock Exchange Switzerland-based DeFi Technologies subsidiary Valour plans to offer more single-asset crypto basket, thematic ETPs
Kava is launching its Ethereum Co-Chain alpha release on March 8th
This will deliver the first-ever co-chain Layer-1 architecture that will bring together the two largest crypto ecosystems, Cosmos and Ethereum, on one fast and scalable network.
Olympus is officially launching a grants program! The 13 grantee beta launch is well underway,
Polygon Developers on Infura Surge to Over 8,800 in January
The total number of Polygon PoS users on Infura reached ****8,845 in January, more than tripling from about 2,500 at the start of July, Infura data shows. Subscription grew an average 26% month-on-month since August 2021.
Blockchain Interoperability Network Axelar Raises $35M at $1B Valuation Polychain Capital and Dragonfly Capital were among the investors in the company building a network to connect users, assets and decentralized applications across multiple blockchains.
Curve Finance Launches on Moonbeam Moonbeam won its Polkadot parachain slot auction for 35 million DOT tokens, which was worth around $1.4 billion in November.
Staking Providers
Coinbase partners with OneRiver to roll out new institutional platform The separately managed account will be exclusively available for Coinbase Prime users and specifically targets the institutional investor.
Lido Finance unveil liquid staking for Kusama (KSM) on Moonriver.
Users can stake their KSM with Lido to earn daily Kusama staking rewards and benefit from the many opportunities available across the Kusama DeFi ecosystem.
HashQuark, active validator on deBridge
HashQuark is proud to support deBridge with industry-leading blockchain infrastructure. HashQuark will enable deBridge to leverage our industry-leading blockchain infrastructure to fuel the deBridge ecosystem’s success.
Anchor Targets veTokenomics as Luna Foundation Adds $450M to DeFi Protocol’s Reserves
The Luna Foundation Guard topped up the #Anchor yield reserve with $450 million and now sits above $503 million!
Moonstake to Support Staking of Everscale (EVER) in 2022
Announcing they are definitely on track with the integration plan of Q1 2022. EVER staking is coming to Moonstake next week
Leading PoS Validator Stakin Partners with Cronos
Stakin announce strategic partnership with Cronos to further enhance the ecosystem and provide secure validation services on Mainnet
Ref Finance raises 4.8$ million in Strategic Sale
Ref Finance, the leading DeFi protocol on NEAR, has recently closed a strategic OTC sale that was led by Jump Crypto, with participation from Alameda Research, Dragonfly Capital, D1 Ventures, OKX BlockDream Ventures, Kucoin Ventures, SevenX Ventures, Woo Network, Move Capital, Puzzle Ventures as well as individuals / DeFi influencers.
Gnosis Spins-off safeDAO and Launch SAFE Token
Setup the independent Safe Foundation in Switzerland to protect strategic off-chain assets (IP, Github repositories, strategic investments), issue the SAFE Token, and foster the Gnosis Safe ecosystem.
Element Finance launches voting vaults as new governance primitive
Element finance introduces Voting Vaults (VVs), a new Governance primitive from the Council Protocol. Stake Governance tokens in Compound, AAVE, Uniswap, L1s/L2s and still participate in Governance. These Governance Lego Pieces can extend to many use cases
Yearns new proposal to streamline contributor compensation
Builds on top of the recently adopted YFI Tokenomics program to simplify Yearn contributor compensation through the introduction of a yDiscount program.
Staking Rewards Insights
Latest Asset Integrations:
dYdX $DYDX
dYdX is a governance token for the dYdX exchange protocol. Token holders govern the dYdX Layer 2 protocol built with Starkware to align incentives between traders, liquidity providers, and partners.
Currently, 31.91****%**** of the total eligible supply is being staked with delegators earning 19.52% APR for staking.
$DYDX Staking Stats as of Feb 22nd. Visit the asset profile for more info.
Ambrosus $AMB
Ambrosus is an industrial-grade blockchain and IoT platform for the digitization of physical processes across the global economy. Built for both enterprises and entrepreneurs, Ambrosus offers cutting-edge IoT devices, alongside a robust blockchain-cloud infrastructure designed to holistically secure and manage data collected from the real world.
Currently, 59.57% of the total eligible supply is being staked. Details on running nodes below:
$AMB Staking Stats as of Feb 22nd. Visit the asset profile for more info.
For the full list of assets on Staking Rewards, visit our Cryptoassets Page.
Staking Mondays
This week we were joined by Alex Svanevik who founded one of the fastest-growing crypto data aggregators, Nansen.
We dived into:
- Ethereum Staking
- DeFi Staking
- Crypto Data Aggregators
Watch the full episode here!
For all Staking Monday’s episodes, watch on YouTube and listen on Spotify. Make sure to subscribe to keep up to date on the latest trends in the staking industry.
Recent Articles in our Journal:
- Is Proof-of-Stake oligopolistic and legacy tech?
- Staking Luna: How to stake Luna and earn up to 254.92%!!!
Current Vacancies at Staking Rewards:
- Director of Marketing & Community
- Research Director, Content
- Head of Finance (Switzerland)
- Backend Engineer
- Senior Cryptoasset Research Analyst
- Senior Data Engineer
- In-House Recruiter (Sourcing Specialist)
And more…
We are looking for proactive, intelligent, and determined people to join our team across all functions.
The positions are all fully remote but restricted to CET +/- 6.