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On November 18, 2020 the Oasis mainnet transitioned to a fully permissionless platform with ROSE tokens becoming transferable on the network. This constitutes a major milestone for the Oasis ecosystem and we are proud to be part of the initial 75 validators that made this possible!

Oasis and its privacy-preserving technologies allow developers to build entirely new types of applications in which users remain in control of their data enabling a better Internet and a responsible data economy.

Stake ROSE Tokens with Anthem

Coinciding with the official mainnet launch, we are excited to announce that we have finished our Ledger integration of Oasis in Anthem enabling ROSE holders to transfer and delegate their tokens to earn staking rewards to initially earn up to 20% APY (more on the economics here). …


This newsletter is supported by Chorus One, a provider of staking services in decentralized networks.

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Today marks a very special day, the threshold of 524,288 ETH needed to be deposited for the launch of the Beacon Chain has been met. In other words, the Beacon Chain will launch December 1st — cheers, Ethereum community!

To celebrate this milestone, the Staking Economy team has decided to organize a virtual event focused around Eth2 staking. …


This newsletter is supported by Chorus One, a provider of staking services in decentralized networks.

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💰Economics

Ethereum 2 — The Internet Bond

Buzz around Ethereum staking after the ETH2 deposit contract was deployed (see below) is picking up. Vitalik Buterin shared a blog post with some calculations on why Proof-of-Stake is less costly in providing security for a decentralized network compared to Proof-of-Work.

Furthermore, Collin Myers and Mara Schmiedt shared their paper on the economic valuation of ETH2 as an “internet bond”. A summary of their findings was published on Bankless. …


This newsletter is supported by Chorus One, a provider of staking services in decentralized networks.

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Welcome to this network update heavy issue:

The Graph Community Sale & Curator Kick-Off

The Graph, an indexing and query network for public blockchains has been in the making for nearly three years. Their mission is to make Web3 data accessible and searchable through open APIs, called subgraphs.

After proving product-market fit already with over 7 billion queries across popular Ethereum projects such as Uniswap, Aave and others in September alone; The Graph is now in the process of conducting an incentivized testnet with around 200 node operators called indexers, and over 1,000 curators, which signal high quality subgraphs to indexers in order to earn rewards. There is a curator program that you can find here which requires carrying out minor fun tasks, e.g. adding projects to the Everest registry (like we did). …


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In this article, we’ll walk you through how to stake your CELO tokens using Anthem with a Ledger. We will need the following things:

I.) Installing the Celo Ledger Application

The first step you will need to take is to install the Celo Ledger application on your Ledger device via Ledger Live. To do so, you will need to enable “Developer mode”, which can be found in the Settings under “Experimental features”. …


Solana has developed from an initial idea of how one could timestamp events in a distributed setting (Proof-of-History) into a full-fledged, scalable smart contract platform that is able to host high throughput applications supported by an ever-growing ecosystem of validators and developers.

As one of the first validators engaging with Solana, we wanted to write a post about our view of the ecosystem and how it came to be. To do that, I’d like to begin with an anecdote:

In the summer of 2019 in Berlin, back when in-person conferences were still a thing, I was at an afterparty of ETH Berlin with some other early Solana validators including Aurel from Dokia Capital, who likened Solana to a YouTube clip of a guy starting a dance party at a festival. …


This newsletter is supported by Chorus One, a provider of staking services in decentralized networks.

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Key value propositions for blockchains are decentralization and censorship resistance, but while the former facilitates the later, they do not come naturally or by default. There is an inherent conflict of interest for node operators on blockchain networks: on the one hand, validators want to attract as many delegations as possible to be more profitable. On the other hand, taken to the extreme, this would lead to a centralization of the network, ultimately jeopardizing its security. …


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Gas Price Effects on Node Operators

A looming bull market combined with lots of yield farming activity led to gas price levels unseen since peak CryptoKitties hype in 2017 (see e.g. Etherscan’s historical chart). Vitalik’s thread on the supply and demand economics of gas is really helpful and shows why scaling really is the only viable solution:

A quick thread on supply and demand economics, and why certain “naive” solutions to high gas prices won’t work. pic.twitter.com/lmmyx0x8vL

- vitalik.eth (@VitalikButerin) September 2, 2020

As a side effect of the high gas prices, node operators on protocols managed on Ethereum are experiencing costs that threaten the profitability of their business and, as a result, the viability of the protocols themselves. As an example, ChainLink node operators have paid roughly twice as much on gas in dollar terms as they’ve earned in LINK tokens last week (based on Felix observations for Chorus One) to keep prices updated for the $3bn locked in DeFi protocols that rely on ChainLink price oracles. Livepeer orchestrators are also feeling the pain when calling daily rewards. For example, Chris recently paid $100 to send a call reward transaction. The Livepeer team submitted this proposal to mitigate the high reward calls gas cost. ChainLink also reacted quickly and adjusted LINK payments, but this highlights that protocols built on a shared platform like Ethereum will need to take into account gas price fluctuations and scenarios like the one we are seeing play out now. …


This newsletter is supported by Chorus One, a provider of staking services in decentralized networks.

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Dear readers,

Today we’re excited to announce that we have a new contributor joining us to assist with Staking Economy updates: Robert Dörzbach. Robert is working on communications and marketing at Staking Facilities, a validator and node operator based in Munich, Germany focused on providing industry-grade staking services for a thoroughly vetted portfolio of networks.

Robert joining our newsletter is based on a shared greater goal that all of our companies strive towards: making it easier for people to participate in and understand the staking ecosystem through educational and informational content. …


This newsletter is supported by Chorus One, a provider of staking services in decentralized networks.

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The Great Reddit Scaling Bake-Off

The third most popular website globally, Reddit, hosted a challenge to scale their Community Points system, which is currently based on Ethereum. Numerous layer-2 solutions like Matic, SKALE, and StarkWare, as well as a few layer-1 projects including NEAR and Solana submitted entries to showcase how one could use their project for this specific use case and how they would improve throughput and gas cost as a result. The Reddit team is currently reviewing submissions, find an overview of the challenge and the submissions here.

Competition and Trade-Offs

A minor Twitter war broke out between Avalanche and Polkadot following a post by Gavin Wood comparing the two protocols. Collin Cusce, engineer at Ava Labs, rebutted in a tweetstorm. …

About

Felix Lutsch

Business Development @ChorusOne. Editor @StakingEconomy. @FelixLts on Twitter.

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