State of Stake vol. 45

Paradigm

Follow

Published in

Paradigm

17 min readMar 19, 2021

--

Paradigm’s biweekly update on Proof-of-Stake ecosystem, 4th March — 19th March

TL;DR

Ethereum Berlin upgrade is scheduled for April 14
Cosmos Hub 2 years anniversary
Terra Bridge is live
Liquid Staking on Terra introduced
Anchor Protocol has launched
Uptick app launches on IRISnet mainnet
Kava 5 mainnet upgrade is only 5 days away
Injective Equinox pre-staking launched
Staking Phase 3 is about to go live on Elrond
Akash Network launches mainnet 2
SushiSwap launches on Avalanche
Polkadot Bridges — connecting the Polkadot ecosystem with external networks
IOST partners with Polkadot for cross-chain interoperability breakthrough & successfully completed the testnet for cross-chain bridge
NEAR integrates Band Protocol to empower developers with scalable and extensive data oracle coverage
Secret introduces SEFI. The native governance token for Secret DeFi is expected to launch on March 31st, 2021
Polygon Improvement Proposals announced
The Oasis-Eth ParaTime is live on mainnet
xDai <-> Polygon (Matic) state channels bridge powered by Connext
The Keep and NuCypher projects have proposed a “hard merge” meld
Synthetix Spartan Council updates
SKALE in 2021: Read all about SKALE’s first 60 days of 2021
COTI launches a new staking campaign with KuCoin
StaFi cooperates with Conflux to bring rTokens into BSC ecosystem
Moonstake Partners with Orbs
Mina Protocol mainnet soon
Cardano (ADA) is launching on Coinbase Pro
Seoul Metro Government and ICONLOOP announce implementation of contactless reservations for over 7,000 public services
A proposal for Florence, the next protocol upgrade for Tezos, has been posted on the Tezos Agora forum
The Graph Improvement Proposal Process for protocol upgrades will be hosted on Radicle
Algorand update on period 3 of 200M ALGO staking rewards program
Solana announces the winners of the Solana X Serum DeFi Hackathon
A full playlist of ‘Proof-of-Stake: The New Paradigm’ is now available on Persistence YouTube Channel
And more!

Global Market Overview

The current Staking Market Cap (valuation of all projects that have a staking mechanism) is now about $464.1 billion while two weeks ago it was $402.7 billion USD.

Over the last two weeks, POS Dominance decreased from 64.5% to 61.7%.

Now, the leading projects by locked in staking are Cardano,Polkadot, Avalanche, Terra (!), Algorand, Ethereum, Cosmos, and Solana.

Current Value in Staking by Asset

Proof-of-Stake Networks’ Updates

Ethereum 2.0

Ethereum 2.0 is up and running smoothly! With more than 110,000 active validators and thousands more queued up and waiting to join the network, the Ethereum 2.0 Beacon Chain is looking as healthy as ever.

The Ethereum blockchain may pivot fully to PoS consensus much faster than anyone realized.
Ethereum’s Berlin upgrade is ready to be deployed.
An overview on what the Berlin network upgrade has in store for Ethereum.
What’s New in Eth2–13 March 2021: Your latest round of eth2 news including an editorial from Ben with his thoughts on the merger, updates on the Beacon Chain, links to new resources and more.
Finalized no. 23: Previously known as “what’s new in eth2”, this rebranded blog from Danny Ryan goes through why the name was changed and a reminder about upgrading your nodes for Berlin.
The State of 1559 — Update 008: After over 2 years since it was originally proposed, and one year since we’ve revived the effort, EIP-1559 has been accepted into an Ethereum network upgrade. London, which will come sometime this summer, will bring EIP-1559 to mainnet.
How EIP-1559 leads to better predictability for transactions.
The implications of EIP-1559.
AWS Adds General Availability of Ethereum: With this launch, AWS customers can provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten.
Ethereum’s journey to proof of stake.
How to evaluate different tokens on Ethereum.
The Rise of the Ethereum Economy.
Mousse announced: Mousse is an Ethereum 2.0 emulator for local testing of applications on Eth2 data sharding, especially Rollups.
New bot that tracks and reports on eth2 slashing events
Latest ‘Week in Ethereum’:

Check out our recently-published ‘Defi in Ether’ — biweekly update on Ethereum DeFi ecosystem vol.26 full of news from the ecosystem: Maker unveiled the Optimism Dai Bridge, 0x DAO announced, Overlay introduced, Yearn partners are here, renDGB‌ ‌is‌ ‌live‌ ‌on‌ ‌Ethereum, Aave AMM market released, mStable governance & dev updates, Yam presents DAO House, Gnosis SafeSnap introduced, Spartan Council updates, and more!

Polkadot

Polkadot Bridges — Connecting the Polkadot Ecosystem with External Networks: Polkadot was created with the belief that no single blockchain can do everything; that rather, the future is multichain. Read about how Polkadot can accomplish this with bridges to other networks, and what bridges are currently being built.

Polkadot Bridges - Connecting the Ecosystem with External Networks

Web 3.0, the next generation of the internet, has been envisioned as a fully functional and user-friendly web where our…

polkadot.network

Latest Polkadot Digest:

Avalanche

Last week in AVAX:

Algorand

Upcoming Algorand Foundation Wallet Activity : From March 18th to at least April 5th, the Algorand Foundation will complete the process of moving Algo funds, currently held in the wallets listed here, to custodial wallets held by a new provider (BitGo). This is expected to involve around 4B Algo moving between wallets. These transactions do not represent Algo entering circulating supply, even though they may temporarily appear so due to the automated reporting processes of the block explorers and research websites that report on the Algorand ecosystem. The team at the Algorand Foundation will work with the block explorers and 3rd party research teams (e.g. Messari, CoinMarketCap, CoinGecko) to ensure that the new BitGo addresses are identified as Foundation wallets and these Algo will be correctly recognized as not being in circulation.
Update on Period 3 of 200M ALGO Staking Rewards Program: The Algorand Foundation 200M Algo Staking Rewards program has just completed Period 3 and the staking rewards associated with this period have now been distributed on March 2nd, 2021. After accounting for disqualified participants, the remaining qualified participants will have received 0.652 Algo for every Algo staked in this period (or 652 ALGO per 1000 ALGO staked). This is a staking reward of 65.2% in Period 3. Qualified participants remaining in the plan until the end of Period 4 are now projected to receive a minimum of 2015 Algo per 1000 Algo staked (or a staking reward of 201.5%).
Improvements to 3rd Party Supply Reporting: In response to feedback from the Algorand community, the Algorand Foundation is working with leading research websites (e.g. Messari, CoinMarketCap and CoinGecko) to improve the accuracy and timeliness of their circulating and reported supply metrics for the Algo.
Africa Blockchain Institute Secure Algorand Foundation Grant
Digital Payments: How Algorand Enables Near-Instant, Low-Cost Value Transfers
STOKR Raises €3.9 Million in Total Investments from iFinex Inc., Borderless Capital, Utopia Genesis Foundation, and G1 Ventures to Meet Surging Security Token Demand

Tezos

Tezos Community Reward Winners — February 2021
The Growing NFT Momentum
A proposal for Florence, the next protocol upgrade for Tezos, has been posted on the Tezos Agora forum.
Latest Tezos weekly:

Synthetix

SNX liquidity incentive for sUSD/DHT Uniswap pool: New liquidity incentive for dHedge’s governance token.
Spartan Council updates: voting live for next epoch + integration into Staking dApp: There’s a whole host of updates for the Spartan Council.
Synthetix bug bounty now live on Immunefi: The new Synthetix bug bounty is now live on Immunefi.
Vanadinite product release: What the Core Contributors have been adding across the Synthetix interfaces.
Synthetix Weekly — March 17th 2021:

Synthetix Weekly - March 17th 2021

New Spartan Council Elected Congratulations to the new Spartan Council: SynthaManSpreekjustwanttoknowathingKALEBMichael…

synthetixweekly.substack.com

Cardano

Momentum continues as Coinbase lists ADA and Bloomberg adds Cardano: Cardano reaches another important milestone as financial data powerhouse Bloomberg adds Cardano to its ‘Terminal’ real-time market information platform and leading exchange Coinbase lists ADA.
Cardano’s Extended UTXO accounting model — built to support multi-assets and smart contracts: Cardano uses an innovative Extended UTXO accounting model to support multi-assets and smart contracts. In the first of a two-part blog, the team looks at the different blockchain accounting systems and why EUTXO matters.
Cardano’s Extended UTXO accounting model — built to support multi-assets and smart contracts (part 2): In the second part of our blog on Cardano’s EUTXO accounting model, the team takes a more technical look at transaction components, the UTXO set, and delves deeper into the rationale for Cardano’s EUTXO model.
Cardano (ADA) is launching on Coinbase Pro.

Cosmos Network

On March 13th 2019, Cosmos Hub was born! Happy 2 years anniversary to the team!
HackAtom RU is on.
Cosmos Privacy & ZKP Showcase:

Cosmos governance proposal 41 to enable IBC transfers is currently being voted on. As expected, almost all votes are in favor of the proposal.
Latest ‘Today in Cosmos’: Proposal 38 has passed.

Check out our latest biweekly update on Cosmos ecosystem vol. 43 covering the following topics: Proposal to add the Gravity DEX onto Cosmos Hub is live, Tendermint invests in Tgrade, The Pomp Podcast with Ethan Buchman, Akash Mainnet 2 is here, IRISnet Mainnet 1.0 is live, e-Money collaborates with Elrond, Secret announces SEFI, Chainlink VRF is live on Polygon, Kava 5 on Mar 24, and more!

Celo

The Celo Beat — Edition #30: Bi-weekly news about Celo.

IRIS Network

Terra

Terra Bridge is live: You can now transfer assets between Terra, Ethereum, and Binance Chain within a single user-friendly interface.
Terra validators can now vote on oracle prices without fees.
Liquid Staking on Terra introduced: Liquid staking on Terra is built around the bLUNA token — a staking derivative of Terra’s native LUNA token.

Anchor Protocol is now live: Anchor completes Terraform Labs’ vision of launching 3 financial primitives (payments, investing, and savings) on the Terra blockchain to support a thriving inter-chain DeFi ecosystem. Anchor is a decentralized money market and savings protocol providing 20% APY to UST depositors. Only liquid staking derivatives of major PoS chains accepted as collateral on the borrower side.
Mirrored SPY Index (S&P 500) is now live.

Secret Network

Introducing SEFI: Native Governance Token for the Secret DeFi Ecosystem
Secret DeFi Update: Genesis Distribution Date for SEFI + SecretSwap Improvements: SEFI, native governance token for Secret DeFi, is expected to launch on March 31st, 2021. Inside: how you can receive SEFI, recent SecretSwap growth and improvements, new bridges, and more.
Secret Network Ecosystem Update: February 2021
Introducing Sienna: A Privacy-First DeFi Protocol: Secured by Secret Network and launching April 2021, Sienna is building a new interconnected DeFi protocol that allows for a privacy-preserving lending, borrowing, and trading experience.

Band Protocol

Bluzelle

Bluzelle Biweekly Review
Bluzelle Partners with $50B Data Infrastructure Leader Equinix
The Official Bluzelle NFT Collection: With the upcoming new brand design, the team is giving away a collection of artistic NFTs

Kava Labs

KAVA 5 Mainnet Upgrade is only 5 days away: Launch is set for 15:00 UTC March 24th
Kava Labs Completes Acquisition of Crank Studio
Kava 5 Incentivized Testnet Rules (Round 2)
Kava-5 Launch Post-Mortem

Injective

Injective Equinox Pre-Staking Launch: Now, you can transfer your ERC-20 INJ tokens into Injective to start earning yield. To further reward the community’s patience, the team has also raised the baseline APY to 15%.

Injective Exchange Upgrade: A Novel Order Matching Mechanism
Injective Partners with Cartesi to Enable Mainstream Developer Adoption: Injective is joining forces with Cartesi to enable mainstream developer adoption of the Injective Chain. Both companies will study together how to integrate Cartesi’s tools on the Injective ecosystem.
Injective Partners with SuperFarm to Launch Exclusive Injective NFTs
Injective Partners with Tidal to Provide Insurance for Decentralized Derivatives
Injective Partners with PARSIQ to Enable Fully Automated Decentralized Trading

Polygon (previously Matic)

Polygon Improvement Proposals announced: Polygon Improvement Proposals are design documents describing new features and proposals to the Polygon community.

Persistence

Community Newsletter #5 — February 2021
A full playlist of Proof-of-Stake: The New Paradigm is now available on our YouTube Channel:

Akash Network

Oasis Network

The Oasis-Eth ParaTime is Live on Mainnet. Join the Hackathon: The Oasis-Eth ParaTime by Second State is live on Mainnet of the Oasis Network. It launched successfully and has 18 nodes registered to operate on the ParaTime.
Hackathon Winner’s Spotlight: Oasis Docs
Expanding cross-chain asset transactions

SKALE Network

Ethereum + SKALE: Mutual Value Capture: SKALE and Ethereum create a powerful synergy and the success of the SKALE Network also means success for the Ethereum Network. Check out this dive into the technical relationship between the two.
Code & Dapp Updates 4: Listen to SKALE’s projects updates including: MetaMask, Ledger and Ambassador Gamez.
SKALE in 2021: Read all about SKALE’s first 60 days of 2021. New exchanges, 19 Dapp & Partner announcements, 2021 product roadmap and more.
SKALE community update 3.12.2021
SKL begins trading on Coinbase
SKL is Altcoin Daily Top 9 Altcoin Pick

Solana Network

Winners of the Solana X Serum DeFi Hackathon: Solana announces the winners of the Solana X Serum DeFi Hackathon

StaFi

Near Protocol

Berry Cards: a DeFi NFT Marketplace for Pixel Art
Octopus Network Partners with NEAR: The NEAR Ecosystem is excited to welcome Octopus Network onto NEAR Protocol.
NEAR Protocol Partners with Mask Network
The NEAR Blockchain is Climate Neutral

xDai

xDai weekly recap focuses on the latest news and project updates on xDai, and more. New buttons/links added to POSDAO staking app including Add xDai to MetaMask feature. Market Cap surpassed 100M, Tx/day approaching 250K.
Superfluid is live on Matic & xDAI: Superfluid Protocol has been successfully deployed by community members on both Matic & xDAI which means users can now send streams of tokens on both of these networks.
New beta state channel bridge powered by Connext Network provides pain-free DAI transfer between Polygon (Matic) and xDai.
Streamr integration with xDai announced.

Elrond

Elrond Staking Phase 3 Upgrade: Details And Timelines

Elrond Staking Phase 3 Upgrade: Details And Timelines

After endless hours of development and relentless testing from our amazing Validators community, our rapid iteration…

elrond.com

Icon

ICON Newsletter #44 — Binance Stakes Another 20M ICX:

67% of the circulating supply is staked vs. 54.8% at the June 2019. This increased from 62% just 2 weeks ago, which is largely due to new staking services launched on Binance.com, Bithumb, and ICONFi.
Binance is now the #1 validator on the ICON Network with ~13% of the delegation after staking another 20 million ICX
The first Contribution Proposal System (CPS) proposals are in the voting stage. There are roughly 10 days left to get your vote in. Check out the progress here.
A peer to contract exchange protocol, Equality, is announced. Check out this new project and timeline here.
ICON joins a consortium chain in Japan, Palette. Palette is focused on the NFT space and is looking to launch the country’s first IEO.
Paycoin partners with Union Pay and outlines ICX integration timeline.
Seoul Metro Government and ICONLOOP announce implementation of contactless reservations for over 7,000 public services using loopchain, ICON’s core engine:

IOST

IOST Partners With Polkadot For Cross-Chain Interoperability Breakthrough & Successfully Completed The Testnet for Cross-Chain Bridge

NuCypher

Codename KEANU: Keep and NuCypher are discussing a “hard merge” called Keanu. A merger between two large decentralized projects should be an interesting event to watch unfold.

COTI

Zilliqa

Zilliqa Monthly Newsletter — February 2021

Orbs

Mina Protocol (formerly Coda Protocol)

Register now for ILLUMINATE: GENESIS — a free virtual event by Mina Protocol, celebrating the upcoming Mina Mainnet launch and exciting protocol milestones.
Mina’s lightweight blockchain opens up participation to more people while apps built on Mina, Snapps, enable users to stay in control of their data. Sign up here to be the first to find out when Mina Mainnet launches.

The Graph

Radicle hosts The Graph’s Protocol Governance: The Graph Improvement Proposal Process for protocol upgrades will be hosted on Radicle.
Fuse Deploys The Graph to Simplify Access to Blockchain Data.
The Graph is contributing to Gitcoin grants round 9 as a Matching Partner.
The Graph to sponsor the Chainlink Spring 2021 Virtual Hackathon. The Graph will be awarding developer prizes up to $5k for the best use of the project. Register here to join the team from March 15 — April 11.
The 3rd NFT Subgraph Community Call replay.
Blockchain The Graph: On March 16th 2021, the Google DSC Core Team at PoliMi and The Graph hosted the second and last event of the “Blockchain Series”.

Indexer Office Hours #5: The recording of the Indexer Office Hours that happened today, 17th of March 11AM PST.

Filecoin

Filecoin News 14. The fourteenth issue of Filecoin News. Don’t miss out- subscribe here.

The Next Phase of Fleek with Filecoin: Fleek’s support of Filecoin archiving for websites and dapps pushes the protocol further down the road of decentralization and permanence.
How storage and retrieval deals work on Filecoin: A short article on how storage and retrieval deals work in Filecoin.
Filecoin Virtual Community Meetup — March 2021:

Filecoin community meetups are an opportunity to meet the people behind the many tools and projects being built in the Filecoin ecosystem. Be sure to join the team on April 13th at 1pm PST for the next virtual meetup. Register here. If you are interested in giving a short demo on your project during the April meetup, please sign up here.

Check out our brand new report on the IPFS ecosystem. Vol.4 covers: The Filecoin Miner Index and Calculator introduced, Ceramic unveils the Mainnet Early Launch Program, Civic announces integration with Solana, Satellite has moved to Polygon, Fleek + DFINITY is here, Audius x NFT support, NFTHack this week and the Identity & IPFS event next, and more!