⛓️ Seeking Yield by Staked - Issue #29

📜 tBTC: Bitcoin, on Ethereum, 🐦 Kusama Rollout and Governance, 📽️ Livepeer Weekly Development Update, 🤝 Bugs Joins Terra Alliance, & 📊 Current Staking and Lending Yields

This is the twenty-ninth issue of Seeking Yield by Staked, a weekly update about the most interesting things happening in crypto asset staking and lending.


📜 tBTC: Bitcoin, on Ethereum

A specification for tBTC, a decentralized redeemable BTC-backed ERC-20 token, has recently been published by the Cross-Chain Group, whose founding members are Keep Network and Summa One.

The goal of tBTC is to create an ERC-20 token that maintains the most important properties of Bitcoin. To preserve the properties of its backing BTC deposits, tBTC must remain censorship and seizure resistant, inflation-resistant, leverage-resistant, without middlemen, and redeemable. tBTC does not require an artificial price peg and instead requires a supply peg across chains.

In a tweet thread announcing tBTC and the bonded, multi-federated peg approach, Matt Luongo, Keep Network Project Lead, elaborated on the initiative.

“Solving this problem means bringing DeFi to Bitcoin - and Bitcoin to DeFi. Imagine taking out stablecoin loans against your Bitcoin with @MakerDAO, earning interest on your Bitcoin with @compoundfinance, and trading Bitcoin with @Uniswap - without counterparty risk.”

We are proud to support Keep Network and look forward to helping token holders stake upon mainnet launch!

Learn more:

👉 tBTC Spec

👉 Twitter thread by Matt Luongo

👉 Wyre Talks Ep 47, Announcing tBTC with James Prestwich and Matt Luongo of Cross-Chain Group

👉 Get notified when Keep Network staking launches!


🐦 Kusama Rollout and Governance

Just under 24 hours ago, the “Kusama Chain Candidate 1” was initiated. Thus, Polkadot v0.5.0 is now out and nodes can sync to the provisional Kusama network.

Kusama is described by Dr. Gavin Wood as an early, unaudited and wholly experimental pre-production trial network, designed to help understand how the various cutting edge technologies introduced in areas including governance, staking and sharding work under “real” economic conditions.  

In the accompanying blog post, Dr. Wood outlines “Genesis Governance”, Kusama’s initial governance system. This system is a tricameral model, composed of three parts:

  1. Referendum - Broadest and most powerful chamber that must approve all legislation

  2. Council - Membership begins with seven seats and is a proportionally representative approval vote by token holders, weighted only be the number of tokens controlled

  3. Technical Committee - Composed according to a single vote for all teams that have successfully and independently implemented or formally specified one of the two halves of the Polkadot/Kusama protocol 

Meaningful progress continues to be made as the Polkadot mainnet becomes increasingly imminent.

Learn more:

👉 Kusama Rollout and Governance

👉 Get notified when Polkadot staking launches!


📽️ Livepeer Weekly Development Update

The Livepeer weekly development update is a phenomenal way to stay in the loop with technical advancements happening with the project.

As mentioned in the most recent update, last week’s progress included:

  • First user testing of 3Box integration (see screenshots below)

  • Groundwork for the dual encoding + mining project

  • Refactoring existing on-chain event watching code to use the new blockwatch package

  • Completing most of the work to add a round watcher that caches round information whenever a new round is initialized

  • Kicking off prototyping and design exploration for the staking contract update to expand the orchestrator set

  • Ongoing progress and testing toward the LivepeerWowza 0.1.0 release

This week’s priorities include:

  • Working on the external transcoder integration with 3Box

  • Aiming to release LivepeerWowza 0.1.0

  • Completing the on-chain event watching project

  • Continuing last week’s prototyping and design work for the staking contract update to expand the orchestrator set

  • Polish and merging in of the Livepeer Demo Player user experience

  • Start planning the next phase of scalability testing

Thus, Livepeer is making substantial progress on a weekly basis!

Learn more:

👉 Weekly Development Update - August 21st 2019

👉 Delegate Livepeer to Staked!


🤝 Bugs Joins Terra Alliance

Bugs, a premium Korean music streaming service with 5.8 million songs available, has recently joined Terra’s e-commerce alliance. The Terra ecosystem now currently features 25 ecosystem partners, including 15 major local banks.

The partnership will allow Bugs customers to pay for music using Terra. According to the Bugs team, this partnership is the first of its kind.

The partnership will utilize CHAI, a rising Korean payments solution provider that has a mobile app for completing transactions. CHAI provides an easy-to-use interface, while Terra provides the backend blockchain technology.

Hence, the Terra ecosystem continues to proliferate!

Learn more:

👉 Terra Signs Music Streaming Platform to Crypto Payments Alliance

👉 Delegate Terra Luna to Staked today!


📊 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), Terra (LUNA), and Algorand (ALGO).

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!


About Staked

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.

If you enjoy Seeking Yield or are a fan of what we are building at Staked, give us a shout on TwitterLinkedIn, or tell your friends and colleagues.

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