💰ICON P-Rep Voting Guide ⚠️FAQs: Risks associated with Staking 📖Blockchain Infrastructure Thesis
Dear friends, welcome to Staking News Bites issue #4!
Staking News Bites is a bi-weekly newsletter run by InfStones, where we'll be sharing the most exciting things happening in crypto-asset staking, the latest news on proof-of-stake and InfStones' most recent progress.
Staking, Get Rewards
The current staking yields of the following crypto assets are:
Tron (TRX) - 7.09%
IoTeX (IOTX) - 8.27%
Cosmos (ATOM) - 10.37%
IRISnet (IRIS) - 13.58%
Ontology (ONT) - 7.43%
IOST (IOST) - 9.94%
Loom Network (LOOM) - 20%
Tezos (XTZ) - 7.41%
Bytom (BTM) - 6.16%
Elastos (ELA) - 10.82%
What's New on Staking
Staking Rewards Published Blockchain Infrastructure Thesis
The thesis elaborates the importance of financial and technological infrastructure in the blockchain space and explains the roles of supply-side infrastructure providers.
Click here to read the full article.
Crypto staking will always remain one of the most effective and easiest ways of making money through blockchain since the trend of trading is gradually experiencing some setbacks due to the current volatility of the market.
Click here to read the full article.
This article is a step-by-step guide on ICON P-Rep voting which takes InfStones as an example.
Click here to read the tutorial.
ICON recently released the updated Yellow Paper IISS 2.0, and the new introduction about Penalty System. This article aims to remind ICONists of the risks of losing principal investment and help them carefully select reliable P-Reps to earn more rewards.
Read the full article here.
FAQs - Risks and Precautions Associated with Staking
As staking has become a new trend in the crypto industry, it's important to mention the risks associated with cryptocurrency staking. Now let's take a look at the risks.
1. Slashing risk
When your validators break the rule, they will get punished by the network, which is also known as slashing.
Slashing can happen in several cases, such as when liveness fault, security fault, or governance fault happens.
2. Risk caused by unstable node operation
The ledger nodes involved in the operation have higher requirements for equipment operation and maintenance. They must be kept online 24/7 to handle emergencies.
If the node's own technical level is not enough, it is prone to block loss and double signing and will be subject to the Slashing penalty from the project side. Some penalize the nodes, some penalize the users and affect the reward of the stakers.
3. Risks associated with the token price and related project
Staking coins in a bound wallet has one drawback: The risk of weakened liquidity. PoS projects basically have a lock-up period ranging from 20 days to a few months. Even if you redeem the tokens, you will not be able to trade during the lock-up period, and you may face big fluctuations in the token price. If you are unable to participate in the transaction in time, you will incur opportunity costs.
This may not be a problem when the value of the token rises, but it can lead to losses when the price falls. The amount earned through pledge may not be sufficient to cover the price devaluation during the bear market.
On the other hand, staking is more suitable for long-term HODLers. If you are a frequent trader, the longer lock-up period is not suitable for you. At the end of the day, whether you choose staking or not solely depends on your own investment style.
Sign up now so you don’t miss the next issue.
In the mean time, tell your friends!
PoS Webinar Series
PoS Forum #4 - Staking and the Mining Ecosystem
Alina, Head of OKEx Mining Pool joined the discussion with Sili Zhao, Head of Business at InfStones at the latest PoS Forum, the webinar series hosted by InfStones, on August 28th. The speakers discussed the future of staking economy and the mining ecosystem.
For the full transcript of the webinar (in Chinese), please seehere.
Please scan the above QR code using Wechat to get notified for future PoS Forum webinars.
InfStones Partnered with Wanchain, to Provide Galaxy Consensus with Entrusted Staking Services
On August 19, InfSones and Wanchain entered into a partnership with the Galaxy Consensus Node Program. InfStones will become the verification node for Wanchain PoS and provide users with entrusted staking services of WAN tokens.
InfStones is now ranked the 7th amongst all the Wanchain validators.
InfStones Joined Panel at Bytom Global DevCon
On August 24, at the Bytom Global DevCon, Sili Zhao, head of InfStones business, participated in a panel discussion titled "Value Creation in Digital Assets Industry".
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