Hi there,
Ethereum continues to outgrow all other staking networks. Since there can’t be any staking outflow (withdrawals are not yet enabled for Ethereum Staking), ETH staking keeps growing and is slowly building the foundation for a trillion-dollar staking economy. Ethereum saw a steady Staking Inflow of $246M worth of ETH in the last week.
Having said that, Ethereum has now overtaken Cardano as the second-largest staking network by Staked Value. While Solana remains number 1, it has still lost over $270M net staked $SOL over the last week.
Secret Network is another big winner of the week with over 10% Net Staking Inflow.
Other losers by net staking outflow are the up and comers, Avalanche, Polkadot, and Terra.
The general market is green and the staking industry in general surrounding alternative L1s is growing (and will continue to outpace the Global Crypto Market Cap)
Updated data for the SR20 Index, proves outperformance of $BTC and comprehensive Global Crypto Market Cap even in downtrends like the last number of months. The data shows +360%+ growth YOY for the SR20 (while other indices like the DeFi Pulse Index lost over 30%).
All the best,
Staking at a Glance
Global Staking Research
Vitalik Buterin gives thumbs down to cross-chain applications
In a Reddit post on Friday, Vitalik Buterin, the co-founder of Ethereum ( ETH ), outlined critical security concerns surrounding cross-chain bridges in the blockchain ecosystem. As told by Buterin, storing native assets directly-chain (Ethereum on Ethereum, Solana on Solana, etc.) provides a certain degree of immunity against 51% attacks. Even if hackers manage to censor or reverse transactions. Read more
Kathleen Breitman on Carbon Footprint, Proof-of-Work vs. Proof-of-Stake
Tezos is just a better blockchain, @breitwoman says on “Community Crypto.” “Upgrading eight times when those blockchains struggle to upgrade once is a pretty good testament to its fitness.” Read more
Staking Assets
ETH grows in staking popularity as it surpasses Cardano in the total stake value.
The move in the total Staked Value indicated on StakingRewards.com shows staking passing the total of Cardano as Eth 2.0 continues to grow in popularity Read more
Ethereum hash rate scores new ATH as PoS migration underway
In December 2021, Ethereum network participants implemented the Arrow Glacier upgrade, which pushed back the switch to a proof-of-stake (PoS) consensus. After the switch to PoS, however, ETH will no longer be mined; instead, transactions will be validated by staking on special nodes. Read more
Terra’s Anchor Protocol Faces Market Stress
Terra-based protocol Anchor sees reserves halve. Terra-based savings protocol Anchor has seen its reserves halve to 35 million UST (Terra’s native U.S). Read more
Yearn TVL on Fantom is up 56%+ in the past 24 hours, blowing right past $1B.
Yearn TVL on Fantom Reaches $1B We are thrilled to announce that the total value locked (TVL) across all Yearn products on Fantom has exceeded $1b. Read more
Are LooksRare rewards attracting whales?
First, LooksRare adds an enticing passive income factor with high staking, auto-compounding yields that surpass 500% APY at writing. Importantly, people who stake LOOKS
within the platform are eligible to earn the total share of the 2% trading fees generated from applicable collections (collections with more than 1,000 ETH in trading volume), excluding private sales. Read more
Cardano Ecosystem Has Been Exploding! Cardano’s ADA Parabolic Move
A lot of significant developments have taken place on the Cardano (ADA) blockchain in recent months; as a consequence of the network’s expansion, the average blockchain load has been steadily increasing.
In particular, the average blockchain load over the previous eight days, beginning on January 19, has stayed above 90%, with the most recent reading on January 26 standing at 93.2%. Read more
Ethereum-BSC bridge of Qubit Finance exploited, lost $80 million
The attacker used $185 million as collateral to steal $80 million from its lending pools. The attacker ended up netting 77,162 qXETH ($185 million), which they then used as collateral and borrowed other asserts from lending pools worth $80 million, according to CertiK. Read more
Synthetix expansion to Polygon
Deploy Synthetix Teleporters to Polygon PoS Chain We propose to authorize Synthetix DAO to deploy Synthetix Teleporters to Polygon PoS on behalf of the community. Read more
The Graph Integrates Protocol With Moonbeam – Smart Liquidity Network
The Graph would love to welcome you to be Indexers, Curators, and/or Delegators on The Graph’s MainNet. Read more
Aave V3 Launch on Avalanche
Avalanche hosting V3 after the success by every metric of V2 deployment there seems like a natural upgrade from the status quo. for technical reasons and user quality of life, I would strongly recommend upgrading V2 contracts into V3 contracts instead of just deploying V3 on avalanche. just deploying V3 is the easy path, that being said, it would force current V2 users to repay their positions. Read more
DeFi For All Enters Final Phase With $15 Million for Polygon Native DApps — Polygon | Blog
The program will support specific liquidity mining (LM) and protocol development efforts and will reward projects based on on-chain metrics. The key measure, although not the sole one, is total value locked (TVL) as calculated based on a time-weighted average price (TWAP). Read more
New Uniswap Stablecoin Liquidity Pools with 0.01% fees on Polygon
Currently, UniSwap v3 Polygon has a TVL of $57.87 M, only behind the Ethereum liquidity pools. More importantly, based on research compiled from earlier in the month, the top ten pools on UniSwap v3 Polygon were ~6x more capital efficient based on 7-day volume / TVL compared to pools on UniSwap v3 Ethereum, Arbitrum, and Optimism. Read more
Injective Bridge V2 Release: Cross-Chain Interoperability Across Cosmos and Ethereum
Here you will find a high-level overview of some of the most significant changes that encompass the V2 release. Read more
An Update On the NEAR Validator Upgrade
After the latest upgrade, which now allows up to 100 validators to the Mainnet and a lowered seat price of 64,000 $NEAR, many validators (73) managed to enter the validator pool with their own funds. The Foundation only had 27 seats available for delegation, which means that the selection process was extremely competitive. Read more
Avalanche Rush Program Brings $UST to Avalanche
Pangolin has officially joined another Avalanche Rush incentive program focused on ecosystem growth. Pangolin, a native decentralized exchange on Avalanche, will soon have access to $2M in AVAX rewards. Read more
Celo Launches the cREAL Stablecoin
Celo Real (cREAL), our third stablecoin for mobile payments, has launched on Celo! With leading exchanges, cryptocurrency wallets, and popular DeFi apps in the Celo ecosystem supporting cREAL, Brazil is now the first — and only — a country with a Celo stablecoin that can seamlessly be traded. Read more
Introducing Machina: The World’s First Proof-of-Stake Storage Solution, Built on NEAR
Machina, the sharded data storage project created in collaboration with NEAR, Aurora, and online security protocol HAPI, is launching on NEAR to revolutionize how data is stored. Read more
Binance Smart Chain Release v1.1.8
We want to inform you that the latest version of Binance Smart Chain, release v1.1.8 is now available…. Introduction V1.1.8 is a release focused on boosting the performance of node operators. Read more
Staking Providers
Phantom wallets gets unicorn status ?
The team behind the Solana Web3 wallet platform Phantom announced it had raised $109 million in a Series B fundraise. Read more
Lido for Avalanche – Joint Proposal by Hyperelliptic Labs and RockX
We’re Hyperelliptic Labs and RockX, and to continue the monumental success of the LEGO Initiative, we propose an expansion of the family of Lido liquid staking protocols into Avalanche. Read more
Nexo integrates Fantom
We are pleased to announce that the leading exchange and digital assets institution Nexo now supports the Fantom mainnet token FTM. The company’s mission is to maximize the value and utility of cryptocurrencies by offering tax-efficient Instant Crypto Credit Lines, a high-yield Earn Crypto Interest suite, an instant Exchange service, and sophisticated trading and OTC capabilities while providing the top-tier custodial insurance and military-grade security of the Nexo Wallet. Read more
Near Incident – Post Mortem by P2P Validator
Due to a sudden spike of transactions, the mainnet validator node ran out of disk space, leading to the inability to produce blocks and corruption of the node state. Overall, the node was offline for ~3,25 epochs, and the validator pool lost 4 full epochs of staking rewards. Impact on clients All our Near delegators was affected and lost four epochs of staking rewards. Read more
Announcing Blockdaemon’s $207 Million Series C Funding
Blockdaemon continues to be the world’s largest blockchain infrastructure company for node management and staking. With our node stack, institutions can access transaction nodes, staking, custodial APIs, liquidity options, and high availability (HA) clusters. Read more
Stakefish Ethereum staking 2.0 beta
The new version of Stakefish´s non-custodial Ethereum staking service is live on Mainnet. Read more
Idle Finance proposal is to introduce the Gauge Voting and Farming Boost modules 2, adding new Governance features to $IDLE on the Ethereum network.
The goal is to incentivize liquidity provision on the Senior class of the Perpetual Yield Tranches while aligning LPs and $IDLE token holders. Read more
Lido For Polygon – Launch Plan
Give it support to utilize # stMATIC (liquid staked $MATIC ) as collateral to borrow $MIM by engaging on the Abracadabra forum. Read more
Rocket Pool Explodes To Become 2nd Largest Ethereum Staking Provider Rocket Pool continues its epic success journey to become the 2nd largest Ethereum Staking provider in the world, and it has no plans of stopping. Read more
Staking Rewards Insights
Latest Asset Integrations:
Polkadex ($PDEX)
Polkadex is a fully decentralized peer-to-peer order book-based cryptocurrency exchange for the DeFi ecosystem built on Substrate. Polkadex is a cutting-edge decentralized exchange that overcomes such issues of traditional DEXes as front-running, arbitraging, price slippage, and high transaction fees.
Currently, 7.68% of the total eligible supply is being staked and stakers earn around 50% annualized while delegating their assets. Run a validator and you could earn as much as 47% APR.
$PDEX Staking Stats as of Feb 1st. 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 delighted to welcome Sam Harrison, Harmony’s Head of Ecosystem Growth.
Harmony $ONE is an alternative Layer 1 Blockchain. Currently no. 24 by Staked Value on Staking Rewards. Harmony features native bridges to other chains and sharding design on the protocol level.
We dived into:
- Multi-chain world
- Blockchains bridges (State of the art, Flaws, Outlook)
- Alternative L1s
- Harmony’s big vision
- And more..
Watch 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:
- Staking on DODO Finance vs PancakeSwap
- Staking EVER | Ultimate Guide to Everstaking
- StaFi Protocol: Is this the liquidity solution to PoS projects?
- How to Stake Illuvium – The Ultimate Visual Guide
Current Vacancies at Staking Rewards:
Join us on a mission to democratize passive wealth generation.
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.
- Senior Data Architect
- Research Director, Content
- Graphic Designer
- Head of Finance (Swiss only)
- Marketing Director