Staking with Purpose: Part 1
The SharedStake Governance Token is an ETH2 token that allows users to access DeFi applications while generating passive income.
Digital assets have had a blockbuster year:
Global market capitalization increased 5-fold (~1.4T USD), most coins have surpassed All Time Highs, institutional investors continue to recognize ETH’s value, & ETH 2.0/Decentralized Finance (DeFi) are only beginning
Financial impermanent loss entered the crypto lexicon en masse in 2020, but few projects have yet to identify and mitigate the loss of choice between interacting with DeFi or locking capital in a Crypto 2.0 protocol. For those of us who are new or don’t yet have the required 32 ETH to stake on the ETH 2.0 chain (~50,000 USD), SharedStake may be an ideal option. The SharedStake Governance Token (SGT) doesn’t make you choose between DeFi now or profits later.
SharedStake is a custodial staking service that gives any ETH owner (whale or minnow) the ability to stake their ETH, receive vETH2 to interact with DeFi, earn SGT through staking, and bet on a decentralized future. Think Badger, but for ETH.
The first two months of 2021 have been pivotal for the SharedStake protocol:
🚀 Total Value Locked (TVL) increased by 1,500+ ETH (the vETH2 contract alone has ~4M USD)
☃️ The protocol partnered with SnowSwap for the first SGT airdrop
💹 150% increase in wallets holding SGT
🦍 Consistently attractive yields on different SharedStake products
Please note: all of this is without a listing on CoinGecko, CMC, or a centralized exchange.
- 50% for the community: 44.5% for pools, 4% in bounties, and 1.5% in airdrops. The two year emission schedule includes quarterly updates to give SGT holders the most capital efficient rate.
- 15% for the Founding Core Devs: 50% is locked for 24 months. The remaining has a two year vest with a two month cliff that can be viewed on-chain.
- 11% for additional advisory, marketing, and development.
- 24% for the founding of the SharedStake DAO Treasury. The Treasury ensures the protocol is maximizing DAO members’ benefits.
SharedStake was built for the future and SGT owners can participate in shaping the protocol by voting via the SGT DAO Snapshot.page.
The 🥩 Community
If a person is a reflection of the company they regularly keep, an asset should similarly be judged by its community. A quick look at $SGT will tell you that not only is the community small and tight-knit (hang out with us on Discord!), but all are welcome.
Whether you consider yourself a corleonescrypto, express yourself more like Gabriel Haines, are a wizened elder like DeFi Dad, or have participated in $ALEX, SharedStake is for those who believe in the future of decentralized finance and want to stake their place in it.
To the Future
SharedStake is not slowing down.
Formal listings on exchanges are forthcoming and additional top tier partnerships are in the final agreement stages. If you appreciate the interconnectedness of DeFi partners or want your SGT to interact with top DeFi protocols (think Mike Novogratz/Mark Cuban), upcoming SGT announcements will excite you.
Want to have your voice heard in the upcoming SGT DAO or missed out on the most recent SGT airdrop? Get ready in case there is another one…
Do your own research
- View current TVL/APY and read the docs
- Follow SharedStake on Twitter
- Ask a question or share a 🥩meme on Discord
- Go in-depth with the SGT overview from Alex Masmej
- Check out SGT on Etherscan or the SGT-ETH pair on Uniswap
- Follow price action on DexTools
- And read Part II
It is still early. Claim your stake in the future of finance!
Disclaimer: I own a negligible amount (growing in an SGT vault!) of the assets mentioned but have no plan or desire to divest anytime soon. Additionally, all numbers/yields are current as of Feb. 11, 2021 and are likely to change.