Monthly Update (September 2021)
Lido for Solana (stSOL) launch, sunsetting Anthem, Guide to LP stSOL-wstETH on Orca + network updates
Launch of Lido for Solana (stSOL)
In September we launched our latest product - Lido for Solana (stSOL). Lido’s liquid staking token for Solana — stSOL — allows holders to passively earn Solana staking rewards with a diversified set of professional node operators while retaining the ability to collateralize their stake in DeFi applications such as liquidity pools or lending protocols. As of time of writing, Lido for Solana has already accumulated $148,446,820 in TVL. We have partnered with Orca, Mercurial and Saber to create liquidity pools for stSOL trading pairs. Liquidity providers (LPs) of stSOL can earn extra rewards on top of the staking rewards earned on stSOL by depositing into specific pools in the above-mentioned platforms. All information about stSOL incentivised pools for LPs can be found here.
Sunsetting Anthem
Chorus One’s first product, Anthem, was announced to be sunsetted in early October. Anthem was built for delegators to track their historical staking rewards, useful for tasks such as calculating tax on staking rewards. We initially built Anthem for Celo, Oasis and Cosmos delegators. We are grateful to Celo, Cosmos and Oasis delegators who used our product during its lifetime and to the respective networks for assisting us with the development of Anthem.
There is no action required from users who used Anthem. Anthem was a front-end that displayed rewards of distinct wallets, not a wallet itself. We wrote this article for delegators to learn more about where they can now find further information about their staking rewards on respective networks.
Chorus One Podcast - Episodes in September
#47 Wormhole: A Pathway for all Blockchain Information
#48 Stargaze: Unleashing NFTs into the Cosmos with Shane Vitarana
We released a step-by-step guide on providing liquidity to the following Orca Pool - stSOL-wstETH to earn more rewards. wstETH is an ERC-20 token and therefore this guide also contains the instructions to transfer wstETH from Ethereum to Solana ecosystem using Wormhole V2 bridge.
Network Updates
Assets staked with Chorus One: $4,641,584,456.19
Altair, the Centrifuge equivalent parachain on Kusama, has won a Kusama parachain slot auction. The network gathered over US $61.7m worth of KSM tokens from over 11,200 contributors, securing first place in the ninth parachain auction to launch on Kusama.
Keplr, a popular Cosmos wallet, now has 100,000 users.
6.66% of all ETH is staked on the ETH2 beacon chain, equivalent to ~US $26.6b
Helium continues its meteoric growth by adding 50,000 new hotspots this month. They are also set to integrate big names like Microsoft Azure to the Helium Console.
An Ethereum native Injective-Ethereum bridge has been launched with the aim of the bridge serving as a gateway to De-Fi projects built on Injective. The bridge is purported to have an average transaction cost of $0.02 per transaction and a user interface to add any custom ERC-20 token address.
Kava Labs launched their $185 million ignition fund to support new DeFi projects on Kava. Cosmostation, a South Korean validator, is the first recipient of this grant. They are building a stable swap that allows users to swap stablecoins and earn by providing liquidity to pools.
Kusama parachain auctions for slot 6-9 have finished and the auction for the last slot is on-going. Projects like Basilisk ($74.23 million), KLIT ($73.48 million), Calamari ($72.9 million), Heiko Finance ($67.74 million) and Altair ($62.74 million) have won slots and have raised money in crowdloans.
Lido for Solana launched, accumulating $148,446,820 in TVL to-date.
Mina foundation in partnership with the Ethereum foundation has granted a $1.2 million contract to =nil; foundation to build an Ethereum bridge. Dapps on Ethereum will now be able to use Mina’s zkSNARK powered applications for privacy, data verification, secure logins, etc.
In the month of September Osmosis was the most active zone for IBC transfers. With IBC transfers standing at 460,590, making up 22% of all transactions on Osmosis. Osmosis saw 160,000 more IBC transactions when compared with Cosmos, the second most active zone for IBC transfers.
Persistence has launched pStake with Alpha Finance LaunchPad. pStake is a liquid staking protocol developed by Persistence, which currently features a staked ATOM and staked XPRT which is in development.
A new Bitcoin-Secret bridge has been announced called the Shinobi Protocol. The protocol creates a SNIP-20 token of equal value when BTC is deposited.
Solana suffered a network outage on 14th September due to a Denial of Service attack. Bots flooded the IDO for Grape on Raydium, which caused memory problems for validators on the network that could not handle the transaction overload. A full post-mortem can be found here.
We are hiring for the following roles:
See more at: https://chorus.one/careers