⛓️ Seeking Yield by Staked - Issue #27
🗓️ Staked August 2019 Update, ✅ Livepeer Surpasses 50% Participation Target, 📜 Solana Tour de SOL Dry Run #2, 📈 Terra Project Santa Initiative, 📢 Algorand 200MM Algo Rewards Program, & More
|Aug 9, 2019||1|
This is the twenty-seventh issue of Seeking Yield by Staked, a weekly update about the most interesting things happening in crypto asset staking and lending.
🗓️ Staked August 2019 Update
We recently published our August 2019 monthly update covering our progress over the past month. We are thrilled to share what we have been working on with the community, as we have been heads down building and growing the business.
This past month, Staked:
Participated in the successful Algorand mainnet launch
Launched support for Orbs and joined the Solana Tour de SOL testnet
Expanded reporting capabilities and added API support across all of our chains
Launched an API for yield information, allowing publishers and affiliates to publish real-time yield & staking data
Added key staking and financial metrics to our yields page
Began Trail of Bits audit for our RAY (Robo-Advisor for Yield) smart contract
We look forward to continuing to provide our customers with best-in-class staking and lending infrastructure. Stay tuned for more updates!
✅ Livepeer Surpasses 50% Participation Target
As of round 1442, the Livepeer staking participation rate has officially surpassed the target rate set at protocol genesis of 50%. Launching just more than one year and three months ago, this is a major milestone for the Livepeer network.
As previously written by Doug Petkanics, Founder of Livepeer, in a blog post:
“If the participation rate is greater than the
participationTarget, then the
inflationrate decreases by
In other words, inflation will now slowly begin creeping down, as the current participation rate exceeds the target rate.
📜 Solana Tour de SOL Dry Run #2
Solana recently ran the second dry run for the Tour de SOL incentivized test net. This dry run took place approximately two weeks after the first dry run.
Primary changes between the first and second dry runs include a fix to the UDP packet issue, an update to ensure the PoH recorder immediately flushes virtual ticks immediately, and a modification to the staking setup configuration.
Overall parameters remained extremely similar to those of the first dry run. Solana expects this to remain relatively consistent until the end of Stage 0.
Parameters for Tour de SOL Dry Run 2:
Three Solana nodes were used to boot the cluster, with 28 validators external validators expected to join shortly thereafter
All nodes received 1 SOL to start with, recommendation was to stake 50% of that (matching the Solana nodes)
GPUs not required as the goal was to sustain an idling cluster and not send a large volume of transactions
All nodes used the latest pre-release, v0.18.0-pre0
In total, 11 issues were filed as a result of the second dry run. Of the 11 issues identified, the main blocker before the next dry run is this issue. The Solana team intends to have most, if not all, other issues fixed before the next dry run.
📈 Terra Project Santa Initiative
Terra has recently introduced Project Santa, a bot that distributes donations to network stakeholders in order to subsidize block rewards. To initiate this effort, the Terraform Labs validators (Ghost, Goliath, Marine, & Wraith) have agreed to seed Project Santa with 21.6MM Luna tokens to be distributed over the next year.
Project Santa results in an ~ 10% staking yield on the 216 million tokens currently staked. Like other block rewards, these tokens will be distributed pro-rata to the amount of Luna delegated.
Ghost, Goliath, Marine, and Wraith have additionally agreed to commit up to 100MM Luna tokens over the next five years for future block reward subsidies, in the case that block rewards fail to become competitive with the industry standard.
The Santa bot went live on August 8th, 2019, and will remain operative until the Terra community no longer requires it.
📢 Algorand 200MM Algo Rewards Program
The Algorand Foundation has recently announced a staking rewards program to reward those who share the vision for long-term success of the Algorand network.
The 200 million Algos in the reward pool will be distributed over the course of four 6-month periods for a total of two years on the dates listed below.
The entire staking reward pool is fixed and will be distributed on a stake-weighted basis. Rewards will be distributed only to remaining qualifying participants at the end of each 6-month period.
Thus, this new staking rewards program is intended to encourage participation and support to the growth of Algorand.
📊 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.