⛓️ Seeking Yield by Staked - Issue #26
✅ Solana Completes $20MM Series A, 🗎 Interblockchain Communication Protocol Spec, 🗓️ July 2019 Terra Community Update, 💱 Decred DEX Spec, 🔬 Monitoring DeFi Users & Communities, & More
|Aug 2, 2019|
This is the twenty-sixth issue of Seeking Yield by Staked, a weekly update about the most interesting things happening in crypto asset staking and lending.
✅ Solana Completes $20MM Series A
Solana, the world’s first web-scale blockchain, has raised $20 million in a Series A round led by Multicoin Capital, with participation from a plethora of top blockchain investors.
The Solana team is comprised of pioneering technologists from Qualcomm, Intel, Netscape, and Google. The in development protocol has built a technology stack hinged around seven key innovations. The result: a highly performant blockchain network that can already handle 50k transactions per second on a network of 200 nodes running GPUs on current testnet iterations.
Solana has additionally already integrated Move, Libra’s smart contract language. Third party Move modules can be now be deployed to Solana’s beta testnet.
We are thrilled to be supporting Solana as a participant in the Tour de SOL incentivized testnet!
🗎 Interblockchain Communication Protocol Specification
Cosmos recently published a specification for the inter-blockchain communication (IBC) protocol, outlining standards for the Cosmos network and interchain ecosystem.
The spec defines the inter-blockchain communication protocol as a reliable & secure inter-module communication protocol, where modules are deterministic processes that run on independent distributed ledgers (also referred to as blockchains). The spec also mentions that IBC can be used by any application which builds on top of reliable and secure interchain communication. Example applications include atomic swaps, cross-chain asset transfer, multi-chain smart contracts, data, various types of code charding, and more. Furthermore, the spec highlights that IBC is NOT an application-layer protocol, an atomic-swap protocol, or a token transfer protocol.
The diagram below displays how protocol relations are intended to function in the IBC protocol.
The primary purpose of IBC is to provide reliable, authenticated, and ordered communication between modules running on independent host distributed ledgers.
Blockchain interoperability is upon us!
🗓️ July 2019 Terra Community Update
Just more than a month since Chai launched using the Terra Protocol, the mobile payment service is one of the most used blockchain applications in existence.
A few notable figures from July:
Cumulative Transaction Volume: ~ 10b KRW or ~ $8.5MM USD (667% monthly growth)
Number of Cumulative Users: 240k (320% monthly growth)
Maximum daily transaction volume: 1 billion KRW or ~ $850k USD
Most Frequently Purchased Items: #1 Coffee; #2 Baby wipes; #3 Clothes
Incredible traction thus far! Terra is undoubtedly making substantial progress.
💱 Decred DEX Specficiation
The Decred DEX specification is here, designed to enable a more inclusive and transparent future via non-custodial, peer-to-peer exchange.
The DEX will pseudorandomly match orders within epochs, negating the advantages of HFTs and front running. The DEX will also utilize Atomic Swaps, which any compatible coin can implement at their own discretion with minimal development cost. The Decred DEX will have no trading fees or intermediary tokens.
Thus, the Decred DEX seeks to disintermediate legacy exchanges.
🔬 Monitoring DeFi Users & Communities
Athelio, a rising Ethereum data analytics platform, recently published a phenomenal piece highlighting some of the recent trends in the DeFi / open finance ecosystem.
The piece begins by highlighting the recent spike in MakerDAO Collateralized Debt Positions (CDPs) caused earlier this week by a Coinbase tutorial.
Alethio’s Monitoring tool brilliantly displays the heightened activity, as seen below.
The data visualization below features the user network of various DeFi protocols including MakerDAO, Compound, dYdX, Augur, InstaDApp, Nuo Network, Uniswap, and Synthetix. Amazing how intertwined the entire ecosystem is.
Ultimately, the DeFi ecosystem is young, yet flourishing. Excellent work by Alethio!
📊 Current Staking Yields
Staked currently supports Cosmos (ATOM), Terra (LUNA), Horizen (ZEN), Loom Network (LOOM), Tezos (XTZ), Livepeer (LPT), Dash (DASH), EOS (EOS), Factom (FCT), Decred (DCR), IRIS Network (IRIS), and Algorand (ALGO).
Orbs and Solana are a few of the next chains we will be supporting.
Have questions? Find time to speak here.
Sign up here for more on staking with Staked!
📊 Current ETH Lending Yields
There are both on-chain and off-chain crypto asset lending solutions.
Below are various crypto asset lending solutions and annual ETH lending yields.
Sign up here to learn more about lending with Staked!
💼 We are hiring!
Staked is growing and always searching for new talent! We are currently looking for:
Reach out if you are interested or know someone that would be a good fit!
Visit our careers page to learn more.
Staked helps institutional investors reliably and securely compound their crypto by 5% — 100% annually through staking and lending. Staked runs validation nodes for proof-of-stake currencies and offers access to on- and off-chain lending options that provide an annualized yield of in-kind currency.