State of Stake #27
6th August — 14th August
State of Stake is a series of curated news, research, updates, and events in the Proof-of-Stake ecosystem. Stay informed with the biggest PoS networks and all things Staking. Now weekly! This is our 27th report that we are happy to release it in collaboration with Staking Rewards! Staking Rewards provides trusted access to all passive income opportunities with regard to digital assets. They are curating knowledge and data to build a healthy staking and DeFi ecosystem. Staking Rewards’ core focus are Proof-of-Stake Protocols which enable passive returns through staking. They also cover Masternode Coins, Dividend Tokens, and Lending Protocols.
In this update, we examine the period from 6th August — 14th August with a general overview of the market, highlighted research in the space, news on all launched staking networks, updates on all the upcoming PoS networks, the latest developments from staking infrastructure providers and a handful of staking-related events.
- The Staking Defense Podcast Episode 2
Episode 2 of the Staking Defense podcast features the SKALE Labs and Consensys Activate program collaboration. The Activate program provides a number of benefits to smaller validator operators. Done well, the program can help level the playing field between larger and smaller validator operators. Chris Remus discusses these benefits with Jack O’Holleran, CEO of SKALE Labs, Ebru Engwall, Director of Solutions Engineering at SKALE labs, and Collin Myers from Consensys.
- Introducing Rococo: Polkadot’s Parachain Testnet
The Rococo testnet integrates Polkadot with Cumulus and HRMP (Horizontal Relay-chain Message Passing). Rococo is designed strictly for testing parachain functionality. They also intend for Rococo to be a testbed for developing the Cross-Consensus Message (XCM) format, and are looking forward to gathering feedback from the community of parachain builders. Rococo will launch as a Proof of Authority (PoA) network, with a Sudo key controlled by the parachain development leads at Parity Technologies. Rococo will include three parachains that support sending messages to the Relay Chain, and messages between each other through the relay chain.
- YAM’s Market Cap Falls From $60M to Zero in 35 Minutes
Having only launched Tuesday, YAM was a yield farming protocol where tokens were intended to keep parity with the U.S. dollar through loosening or contracting supply. Its relative newness, though, meant the code hadn’t been properly audited; a bug was soon discovered that effectively meant the protocol would keep printing “dud” YAM tokens that would prevent token holders from making any governance decisions. A last-minute attempt to save the protocol ultimately failed and co-founder Brock Elmore pronounced the project dead.
- BluzelleNet Staking Economics
Bluzelle is fully decentralized and stores data across thousands of nodes around the world. Each node provides storage space and earns a fee. Bluzelle is the AirBnB of Databases. Powered by Cosmos, Bluzelle handles 10,000 TPS and is a delegated proof of stake network. Any laptop, desktop, mobile device, and gaming console can become a node on Bluzelle. Bluzelle’s Defi solutions are being developed to enhance Defi with historical price feeds, provide data analytics, 360 degree views, and more. As Defi grows, decentralized infrastructure plays a big role.
- SKALE Network Announces over 40 Partners in its Ethereum Scaling Ecosystem
SKALE Labs, the core team behind the SKALE Network, an open-source elastic blockchain platform designed specifically for scaling Ethereum, announced over 40 integration partners and validators, in addition to the Dapps that joined the SKALE Innovator program and are currently building on the platform. This collection is one of the most significant ecosystem announcements as part of the network launch in recent years and signifies the importance and strength of the Ethereum Developer Ecosystem which SKALE is proud to be a part of.
- Over $100M USD is now participating in Stafi StakingDrop Campaign
Stakingdrop is a unique form of airdrop taken by Stafi targeted at token holders who are actively staking POS tokens. Users who want to claim FIS can Stake their own tokens and submit proof.
- Qtum Stake-A-Thon Update #2
The Stake-A-Thon offers a first-look at Qtum offline staking protocol, currently running on testnet and coming to Qtum mainnet approximately 7:15 pm GMT on August 28 with a hard fork at block 680,000. Mainnet staking wallets should update now to version 0.19.1: don’t be left behind by the hard fork!
- CoinDCX Becomes First India Exchange to Offer Users Crypto Staking
The Indian crypto community now has the opportunity to earn passive income with staking. Mumbai-based cryptocurrency exchange CoinDCX launched its new product, allowing its users to stake three cryptocurrencies: harmony (ONE), qtum (QTUM) and Tron (TRX).
And a lot more!
For full update, please tap here.