Monthly Update (Jun 21)
Whitelabel staking and partnership with ZKV, Osmosis and Injective onboarding, parachain launches, and more!
ZKV Partnership
We announced our staking partnership with Zero Knowledge Validator (ZKV) The partnership entails us providing node infrastructure for ZKV across a variety of decentralised networks, which enables ZKV to focus on privacy-focused initiatives and participate in network governance to represent their community and mandate.
Our Node-as-a-Service offering is available for customers who would like their own branded node to offer staking services to their users whilst we manage the back-end. Further information about our NaaS product including what networks we support for it can be found here: https://chorus.one/products/whitelabel-staking
Chorus One Podcast - Episodes in June
#38 Persistence: Bridging TradFi to DeFi with Tushar Aggarwal
#39 Helium: From Proof of Coverage to Proof of Stake with Scott Sigel
The tutorial of the month is how to swap tokens and LP on our latest onboarded network, Osmosis! Cryptoque shares a fantastic 7-minute video that concisely details how holders of Cosmos tokens connected to IBC (such as XPRT), can swap or LP their IBC-connected tokens for $OSMO rewards.
Network Updates
Assets staked with Chorus One: $1,558,107,997
We onboarded Injective, which have just started their mainnet phase 2. Mainnet phase 2 includes the enablement of staking, governance, token bridging, oracle modules and an insurance fund.
We published research on Helium, discussing what the network is and the reasons behind their transition to a Proof-of-Stake network. On July 7th, Helium will include validators to verify transactions on their network instead of hotspots. Our research contrasted how the inclusion of validators rearranges network actor rewards to incentivise performance and hotspot activations.
Osmosis launched on June 19th and we onboarded the Cosmos-based, customisable interchain AMM protocol as a genesis validator. TVL in Osmosis is currently $79m. Osmosis has kickstarted IBC adoption, in the first five days after launch, there were already 270,000 IBC transactions bringing assets from and to other chains in the Cosmos ecosystem to Osmosis.
Parachain auctions are in full-swing. Karura won the first parachain auction and Moonriver won the second. However, there have been some issues with the network.
There are now 592,817 ETH staked with Lido (0.5% of total ETH supply) and 7509 unique depositors. The mean ETH staked per depositor is 78 ETH.
There is a proposal to establish an Ecosystem Treasury DAO on NEAR, The treasury will be funded with up to $200M USD worth of $NEAR. Developer activity on NEAR is accelerating, there have been 376 commits on Github vs an average of 52 in the past month.
Oasis introduced the Cipher ParaTime incentivized testnet. Oasis separates the consensus layer from other functions. A ParaTime on Oasis enables different execution environments on top of the Oasis consensus layer, e.g. Cipher brings WASM-based confidential smart contracts - learn more here.
Celo is prepared for upcoming UN climate change rulings. Find out how Celo is designed to minimise environmental impact when cEuro is minted here.
The Altair (AIR) crowdloan is now live, KSM holders can stake their KSM to earn AIR and support Altair’s bid for a parachain on Kusama.
An updated roadmap for the Cosmos Hub was released. One of their items on the roadmap, the activation of Gravity DEX can already be voted on here.
Persistence partnered with Injective, users can now trade liquid staking assets issued on Persistence on Injective’s order-book based decentralised exchange.
pStake, Persistence’s liquid staking product, launched its alpha (for liquid staking on Cosmos) and already has 600 users.
Regen launched their liquidity bootstrapping pool (LBP) on Osmosis for price discovery of $REGEN.
Solana raised $314.15M ($100M*pi) in a Private Token Sale Led by Andreessen Horowitz and Polychain Capital.
The Solana Season Hackathon concluded with 13,000 registrants and 300+ projects submitted.
Anchor Protocol users will soon be able to earn a yield on stablecoins other than UST, such as DAI and USDC with a constant APY of 15%.
There was an all-time-high amount of contract calls on Tezos in June (2.1m). USDC has also been issued on Tezos and can now be used in DeFi applications on the network.
Indexers on The Graph are now earning fees for processing queries from 10 production dApps for the first time. This signifies another important milestone for The Graph’s ambitious goal is to create a decentralised marketplace for querying data created by blockchain applications.
The Graph Foundation awarded a $60m grant to get the StreamingFast (formerly Dfuse) team to join the ecosystem as a core development team tasked to improve the The Graph indexing software and performance.
Other Content
Staking Economy
#55 - Multichain DeFi
We are hiring for the following roles: