Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Altcoin Roundup: Hodling Ethereum? Here’s how and where to stake your ETH

The options for earning passive income from staking ETH continue to expand. Here are a few.

The overall feel across the cryptocurrency landscape over the past week has been one of bubbling anticipation, with the Ethereum network finally undergoing its London hard fork, which includes reforms to the transaction fee market, thanks to EIP-1559.

London is the latest in a series of upgrades that are part of Ethereum’s measured transition from its original proof-of-work consensus model to a proof-of-stake model dubbed Ethereum 2.0.

On Eth2, tokenholders who hold at least 32 Ether (ETH) can operate a validator node and verify transactions on the network. With the current price of Ether trading near $2,700, that puts the entry cost of running an Eth2 validator node at $86,400 — a price too steep for most participants in the market.

To help combat this issue, several options — including staking pools and centralized exchange staking — have emerged to offer all Ether tokenholders the opportunity to earn a yield on their tokens.

Here’s a review of some of the top options currently available to Ether holders.

Lido

Another option available to Ether holders who wish to stake their tokens while also being able to access their equity is Lido, a liquid staking solution for Ethereum.

Liquid staking protocols allow users to earn staking rewards without locking assets or maintaining staking infrastructure.

Through the Lido platform, users can stake their Ether with no minimum deposit required, with a current APR of 5.4% after the staking rewards fee is deducted. In return for staked Ether, users receive stETH, which can be freely moved and traded at will.

Total value locked on the Lido protocol. Source: DeFi Llama

According to data from DeFi Llama, Lido is currently the top-ranked Ethereum staking pool and the eleventh-largest decentralized finance (DeFi) protocol by total value locked, with $3.26 billion in value currently locked in the Lido protocol.

The liquid staking capabilities of Lido are currently in the process of expanding, thanks to an initiative in the Anchor protocol community to list bETH — a wrapped form of stETH on the Terra blockchain — as a form of collateral on the Anchor platform, which will allow Anchor users to borrow TerraUSD (UST) against their staked Ether collateral as well as earn liquidity mining rewards.

StakeWise

StakeWise is an Eth2 staking service whose goal is to help users achieve the highest yield possible on their holdings through the combination of staking, yield farming, low fees and a unique tokenomic structure that enables compound staking.

Interested parties can deposit Ether into the StakeWise smart contract and, in return, receive sETH2, which is “staking ETH.” Rewards for the staked assets are paid out in rETH2, which is “reward ETH,” and both sETH2 and rETH2 can be exchanged at a one-to-one ratio for Ether.

These assets can also be transferred to any Ethereum wallet or exchanged for other tokens, allowing tokenholders to access the equity held in their staked Ether while also being able to earn staking rewards.

The StakeWise protocol enables anyone holding at least 0.001 ETH to participate in staking via StakeWise Pool, while larger tokenholders with at least 32 ETH can use StakeWise Solo, a noncustodial staking service where users provide the public part of their withdrawal key and blocks of 32 ETH for StakeWise to create and manage validators on their behalf.

The current APR offered for staking on the StakeWise protocol is 5.64%. There is a 10% commission for rewards generated through StakeWise Pool, while StakeWise Solo users are charged a fee of 10 Dai per validator per month.

Related: Boomer brand changes NYSE ticker from ‘ETH,’ acknowledging crypto’s ascendancy

Centralized exchanges

For users who are not quite up to speed on the ins and outs of decentralized finance — or simply prefer the more traditional custodial route — some of the top centralized exchanges in the ecosystem have started offering Eth2 staking services to traders on their platforms.

The leading options currently available to users in the United States are Coinbase and Kraken, the number-two and number-four globally ranked cryptocurrency exchanges, respectively, according to 24-hour trading volume.

The main drawback for users who wish to stake their Ether using one of these options is that their stakes will be illiquid, meaning that they will be unable to trade their tokens or access the value contained within until the Eth2 network is fully launched.

Kraken currently offers an annual staking reward of 5% to 7%, depending on the rules of the Ethereum protocol, and charges a 15% administrative fee on all rewards received.

The current APR offered by Coinbase is 5%, after a 25% commission is deducted. While neither Kraken nor Coinbase offers any kind of insurance on staked Ether, Coinbase has promised to cover any losses that occur should its validator responsibilities not be met.

Overall, the top staking options available to Ether holders offer an APR range of 5% to 7% and charge a minimum commission fee of between 10% and 25%. When compared with the sub-1% savings rate offered by most banks on a rapidly inflating dollar supply that loses more value by the day, Ether staking could soon become the preferred savings account and a source of passive income for cryptocurrency proponents.

Want more information about trading and investing in crypto markets?

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

https://ift.tt/3yxJMDj
Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more