What happened in the Staking Space from 17th to 26th September?
We are glad to release the very first Staking Rewards Report. Here we will provide a weekly update on all things Staking & DeFi. 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 a sponsor of the Staking Rewards Report.
Citadel is a multi-asset non-custodial platform to manage and store crypto assets. Stake multiple tokens all within a single interface and seed phrase.
Staking Rewards Report TL/DR
- Avalanche $AVAX Mainnet Launch
- Ethereum 2.0 expected to go live in November 2020
- The first Interchain Stablecoin TerraUSD (UST)
….and many more!
Staking Market Overview
Total Value Particpating in Staking (7d change): 16,892,171,318 USD (-11.97%)
Top 7 Coins by Value Locked in Staking (7d change):
- Polkadot: $2,710,126,811 USD (-14.29%)
- Cardano: $1,634,475,438 USD (+9.5%)
- Tezos: $1,488,106,529 USD (-11.87%)
- Algorand: $1,131,545,927 USD (-8.75%)
- Cosmos: $782,482,384 USD (-5.51%)
- Tron: $749,126,335 USD (+3.29%)
- Band Protocol: $614,697,027 USD (+8.41%)
To investors looking for staking rewards, blockchain adopting the Proof-of-Stake consensus mechanism and decentralized finance (DeFi) projects with liquid staking components are great options to participate in. In this article, the author summarized some DeFi projects with liquid staking that are gaining traction in the market.
TLDR: Penalties are needed to prevent Nothing-at-Stake in PoS, but that penalty doesn’t need to be slashing! Blacklisting an offending staker for a period of time can produce the same guarantees.
Proof of Stake Networks hold tremendous potential to be the base of a new permissionless financial system where anyone can participate and have ownership of their money, assets, and long term wealth generation.
The road to Proof of Stake is transitioning from its lengthy research phase and genesis implementation to growth.
In this article, Mara Schmiedt is examining the regulatory scrutiny and its impact on the initial token distribution of new projects. Proposals such as the Safe Harbor present a first step in the direction of formal regulatory guidance that bridges the gap between regulation and progressive decentralization.
In this work Tuyet Duong, Lei Fan, Jonathan Katz, Phuc Thai, and Hong-Sheng Zhou propose a novel 2-hop blockchain protocol that combines PoW and PoS mechanisms. The analysis shows that the protocol is secure as long as the honest players control a majority of the collective resources (which consist of both computing power and stake). In particular, even if the adversary controls more than 50% of the computing power, security still holds if the honest parties hold sufficiently high stake in the system.
This work by Dimitris Karakostas, Aggelos Kiayias, Mario Larangeira provides a formal PoS wallet construction that enables delegation and stake pool formation. They introduced the first ideal functionality of a PoS wallet’s core which captures the PoS wallet’s capabilities and is realized as a secure protocol based on standard cryptographic primitives. Finally, consider the wallet core in conjunction with a PoS ledger and investigate how delegation and stake pools affect a PoS system’s security.
The research paper written by MIchael Neuder, Daniel J. Moroz, Rithvik Rao, and David C. Parkes is explaining a potential solution against malicious reorganisations in Tezos Liquid Proof of Stake.
In this article, the Everstake team compares ETH 2.0 with Elrond and finds out what advantages these blockchain platforms give to their users.
Live Networks Updates
The highly anticipated project by Emin Gün Sirer has officially launched it’s mainnet. With the Avalanche consensus protocol serving as the platform’s engine, transactions are processed at 4,500 transactions per second, with sub-second transactional finality. Avalanche thrives to alleviate bottlenecks that exist in current blockchain systems, as well as usher in a new generation of decentralized applications.
If you want to delegate your AVAX tokens, check out this new Avalanche Staking Guide by Staking Facilities.
Given the entire DeFi ecosystem majorly is built on Ethereum, StaFi thinks it is necessary to create an ERC20 version of rToken in order to tap into the broader ecosystem. The ERC-20 bridge is planned for september/october 2020.
Fantom Investors can now use $FTM to mint $fUSD and earn rewards. fMint is the first component of the suite, fSwap and fLend will come in the next few weeks.
Reef Finance, the first cross-chain DeFi operating system built on Polkadot, has strategically partnered with Bluzelle and become the first adopter of the Bluzelle Oracles. The integration of Bluzelle Oracles price feeds will enable Reef to capture real-time price information in order to power the next generation of DeFi applications. Reef integrates both CEXes and DEXes, providing increased liquidity for all cryptocurrency asset traders and managers.
While there are already many USD stablecoins, the recent spike for stablecoin demand on DeFi proved that none are sufficiently scalable to help blockchain ecosystems scale. TerraUSD is the first decentralized stablecoin that is scalable, yield bearing and interchain.
Harpoon is a new staking dashboard that allows users to find high quality bakers to delegate to.
Only on BitMax, over the period there were 4000 Stakers and 32M $OM being staked. Learn more about MANTRA DAO on Staking Rewards.
With Provisioner staking requiring a minimum stake amount of only 10K Dusk, they’re opening the door to hundreds of new stakers from the Dusk Community. Learn more about Dusk Network on Staking Rewards.
IRIS Foundation launched the Validator Rewards Program, which aims to support and reward validators, further boosting the participation of newly-joined validators, encouraging active community outreach by validators, and incentivizing active engagement in the IRISnet ecosystem for increasing bonded tokens. IRIS foundation will select up to 3 validators from the validators who applied every month and reward them each with 10,000 IRIS.
The Stakin team takes a look at what Stargate is and how it will drive the blockchain ecosystem towards the next phase.
Starname IOV launched their mainnet about a month ago and will start trading on Bilaxy at the 29th September.
Delegators earn around 30.53% annualized and 35.18% of the eligible token supply is already being staked.
Starname IOV is creating a human-readable and cross-chain blockchain address.
To-Be-Launched Networks’ Updates
Ethereum 2.0 is expected to launch in November 2020
- Prysmatic Labs released a public checklist towards ETH 2.0 Phase 0
- The First Part of Ethereum 2.0 Is Formally Submitted
In the newly introduced Delegator hub you will find Important dates & deadlines, rewards calculator, list of confirmed validators, delegator FAQ, and a brief overview of SKALE’s technology. Importantly, on October 1st the Phase 2 of SKALE Mainnet will go live, along with staking, and Proof of Use period beginning for tokens that were delegated and confirmed by validators prior to the end of September.
Harvest is an application built on Kava, as such, Harvest leverages Kava’s existing validators for security, bridges for cross-chain asset transfer, and partners services such as Chainlink oracles for price-reference data. With Harvest you will now be able to lend, borrow, and earn with assets like BTC, XRP, BNB, BUSD, KAVA, and USDX.
What’s that all about the new network that is powering Cosmos & Polkadot with cross-chain liquid staking? Kira Network is designed to secure and power DeFi applications by utilizing the real, intrinsic value of any digital asset at stake, such as cryptocurrencies, stablecoins, digital fiat, or even NFT’s. Kira provides liquidity to staked assets through staking derivatives which at the same time can be used with any DeFi application in a trustless manner.
Dock is launching its mainnet on September 30, 2020, to provide a decentralized network for credential issuing and verification. Dock’s blockchain is custom-built and utilizes a proof of authority consensus mechanism. Currently, there are fifteen independent validators running the network which provide the decentralized infrastructure and ensures network security.
Staking Providers Update
The development of Tachyon Protocol (IPX)’s Node Manager 2.0 has been completed and the Tachyon team ran invitation-only testing in the node community for two weeks.
The swiss brokerage & custody platform released Staking-Backed Loans for Polkadot, Tezos, Dash and Cardano, which allows extra liquidity while staking.
New Providers verified on Staking Rewards:
Upcoming Staking Events
- 29th September 2020 — TezTalks Live #12 — Andrew Paulicek on Domains
- 30th September 2020 – Dfinity Sodium Network Launch
- 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
We are glad to announce the new sector filtering on Staking Rewards. You can now filter different sectors of yield-generating assets incl. Staking, DeFi, Stablecoins, Proof of Stake & Lending.