More Than 20% of Anchorage Clients Participated in Edgeware Signaling
Diogo Mónica, Co-founder and President
On August 12th, an Anchorage client reached out to ask if we would be able to support Edgeware signaling. Signaling is a form of participatory airdrop by which ETH holders can opt in to receive a share of the Edgeware governance token, EDG, proportional to their ETH holdings.
This is exactly the kind of yield-generating activity that Anchorage was built to enable. In fact, the ability to participate securely in airdrops is one of the reasons that so many institutional investors that hold ETH choose Anchorage. Anchorage was built for flexibility: we generate and hold private keys in such a way that they can be used to sign any operation or message without ever being removed from custody. Blockchain developers working on new tokens continue to invent a diverse range of participatory mechanisms, and institutional investors turn to Anchorage because they need a custodian flexible enough to support whatever comes next.
We moved quickly. Eight days later, on August 20th, we announced support for Edgeware signaling. Since we had built the signaling feature into the product, we wanted to make sure that other clients would have the opportunity to participate. We were gratified to see a major response from clients: many view it as part of their fiduciary responsibility to capture the most possible value for their funds.
“Institutional investors want to participate in network launches, staking, and on-chain governance on Edgeware, but cold storage custody makes that a challenge. Anchorage is building exactly the infrastructure needed for investors to take part in participatory airdrops like ours, and we’re thrilled that Anchorage clients are joining the diverse stakeholders of Edgeware.”
— Dillon Chen, Founder, Commonwealth Labs
On September 1st, the Edgeware signaling period closed. More than 20% of Anchorage clients participated. We were proud to be able to offer clients the option of participating in signaling as a first class feature in our platform, and offer it equally to all our clients. Unlike cold storage custody, which relies on manual processes that are burdensome to execute at scale and may expose assets to risk, the Anchorage custody model can execute signatures efficiently and securely at scale.
“As we’ve come to expect from Anchorage, the user experience was effortless. We were able to initiate signaling directly from the UI and it couldn’t have been easier. We love that the Anchorage platform enables us to participate securely, and generate yield for our fund through airdrops like this one.”
— Curtis Spencer, Managing Partner, Electric Capital
Even though the Edgeware signaling and lockdrop period has closed, there will be many more participatory airdrops in the future. Institutional investors who hold ETH want to be able to claim new tokens as they launch, and Anchorage makes it easy and safe to do so. This is one of many reasons that we believe Anchorage is the best place to store ETH. If you’d like to learn more about how Anchorage enables secure participation, and find out some of the other reasons Anchorage is a great custodian for institutional investors in ETH or any other asset, please get in touch.
Services are offered either through Anchorage Hold LLC, a Delaware limited liability company and registered Money Services Business, or Anchorage Trust Company, a South Dakota-chartered trust company. Anchorage Hold and Anchorage Trust Company are not registered with the SEC. Services are not yet offered to residents of New York. Anchorage Hold and Anchorage Trust Company do not engage in the offer or sale of securities or digital assets, and do not provide legal, tax, or investment advice. Anchorage Hold LLC and Anchorage Trust Company are wholly-owned subsidiaries of Anchor Labs Inc., a Delaware corporation headquartered in San Francisco, California.
