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In the world of decentralized finance (DeFi), new tokenomic models are emerging that are changing the way that projects are funded and governed. One such model is veTokenomics, which incentivizes long-term holding and participation by temporarily immobilizing tokens. In this comprehensive guide, we will explore the concept of veTokenomics, how it works, its benefits, and its potential drawbacks.

# What is veTokenomics?

veTokenomics refers to the concept of voted escrow tokens and their role in a protocol’s governance system. By locking one’s tokens for a period of time, voted escrow tokens are minted in their place that increase their ability to participate in governance and that also have a higher APY than the original protocol token. 

Furthermore, veTokenomics introduces a decay function that gradually reduces the voting strength over time. This means that locking assets for a longer duration results in a higher multiplier for voting strength compared to shorter lock periods. For example, locking assets for 52 weeks would give a voter 52 times the voting strength of someone who locks assets for just one week. Moreover, the voting strength can accumulate if a user locks separate amounts at different points in time.

# **How does veTokenomics work?**

The VeTokenomics concept introduces a strategy aimed at fostering sustained engagement with a protocol by implementing token freezing for a predetermined duration. By temporarily immobilizing tokens, the available supply in the market decreases, which motivates users to retain their tokens and strengthens their commitment to the protocol. In exchange for this commitment, users receive veTokens, which possess restrictions on sale and transferability. Nevertheless, to engage in the governance process, individuals are required to lock their tokens for a specific time frame, leading to a natural scarcity of tokens.

When a user locks up their tokens, they receive veTokens in proportion to the amount of time they are locking them up for. For example, if a user locks up their tokens for 1 year, they will receive 1 year's worth of veTokens. veTokens can be stacked, meaning that users can earn additional veTokens by locking up their tokens for longer periods of time.

The primary objective of VeTokenomics is to create a framework that encourages long-term participation and loyalty within a protocol. By locking tokens for a defined period, the initiative reduces token availability, promoting token holders to hold onto their assets and nurturing a sense of allegiance to the protocol. This loyalty is rewarded with veTokens, providing users with added benefits while limiting their ability to trade or transfer them. However, in order to actively participate in the governance mechanism, individuals must commit to locking their tokens for a specific duration, generating an inherent scarcity of tokens within the ecosystem.

# **Benefits of veTokenomics**

There are a number of benefits to using veTokenomics. First, it encourages long-term holding. When users lock up their tokens, they are essentially making a commitment to the protocol. This helps to reduce volatility and provides a more stable foundation for the project.

Second, veTokenomics incentivizes participation. Users who lock up their tokens and earn veTokens are more likely to participate in the governance of the protocol and help to shape its future. This helps to ensure that the protocol is aligned with the interests of its users.

veTokens increase voting power, meaning that users with more veTokens have more say in the governance of the protocol. They also grant access to exclusive airdrops, which are free tokens that are given away to users. Finally, veToken holders receive a share of protocol revenue. This means that the more veTokens a user holds, the more they will earn from the protocol.

Third, veTokenomics helps to generate revenue for the protocol. When users lock up their tokens, they are essentially paying a fee to the protocol. This revenue can be used to fund development, marketing, and other expenses.

# VeTokenomics and Bribing

Bribing is related to veTokenomics as a way to incentivize users to participate in the governance of the protocol. These bribes are actually gamified incentives that help direct rewards for liquidity pools. By providing an incentive for users to lock up their tokens, the protocol can reduce volatility and promote a more stable foundation for the project. 

## How Bribes Work

For instance, consider Protocol A, which establishes an A-USDC liquidity pool on the a DeFi platform. In this scenario, Protocol A entices veToken holders by offering incentives in the form of their native token, $A. These veToken holders can utilize their voting rights to influence the emission levels on the A-USDC liquidity pool. By voting for increased emissions, veToken holders effectively deepen the liquidity of the A-USDC pool, enhancing its overall stability and attractiveness.

As a result of their active involvement, veToken holders are rewarded with $A tokens. These rewards serve as a form of appreciation for their participation and contribution to the growth and success of the protocol. This incentivized approach not only strengthens the engagement of token holders but also ensures a fair and democratic decision-making process, ultimately leading to the enhancement of liquidity pools and the overall ecosystem.

# **Drawbacks of veTokenomics**

There are a few drawbacks to using veTokenomics. First, it can be complex. The veTokenomics system is designed to be sophisticated, and it can be difficult for users to understand how it works.

Second, veTokenomics can be centralized. When users lock up their tokens, they are essentially giving up control of them to the protocol. This can lead to centralization, as a small number of users may end up controlling a large portion of the veToken supply.

# How Our Partners Use veTokenomics

Our partner [Thena](https://thena.fi/) has [incorporated veTokenomics into their platform](https://thena.fi/lock) by allowing users to lock their THE tokens for a predetermined period of time. By locking their tokens, users receive veTokens in proportion to the amount of time they lock them up for. This incentivizes long-term holding and participation, as users are rewarded for their commitment to the platform.

Users can choose to lock their tokens for 2 weeks, 6 months, 1 year, or 2 years. The longer a user locks their tokens, the more veTokens they receive. These veTokens grant users voting power, access to exclusive airdrops, ability to vote for LPs and receive bribes and a share of platform revenue.

By implementing veTokenomics, Thena is encouraging sustained engagement with their platform and incentivizing users to hold onto their THE tokens. This helps to reduce volatility and promote a more stable foundation for the project.

# **Conclusion**

veTokenomics is a new tokenomics model that has the potential to revolutionize the way that DeFi projects are funded and governed. It encourages long-term holding, incentivizes participation, and generates revenue for the protocol. However, it is important to be aware of the potential drawbacks of veTokenomics, such as its complexity and centralization.

## Join the Conversation on Ankr’s Channels!

[Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](https://discord.gg/e4n8mAejGb) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)

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Understanding veTokenomics: A Comprehensive Guide

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Ethan Nelson, a DeFi enthusiast and member of the Ankr Staking team, delves into DeFi topics with expertise. His insightful articles simplify complex concepts, empowering readers to navigate the dynamic world of decentralized finance confidently. Stay informed with Ethan's illuminating content on all things liquid staking and DeFi related.

Ethan Nelson

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Decentralized finance (DeFi) has revolutionized the financial landscape, offering new opportunities for individuals to engage in open, permissionless, and borderless financial transactions. At the heart of many DeFi protocols lie liquidity pools, which play a vital role in facilitating efficient trading and providing liquidity for various digital assets. In recent times, the concept of concentrated liquidity has emerged, offering an alternative approach to traditional automated market makers (AMMs).

In this article, we will explore liquidity pools, their significance in DeFi, and how concentrated liquidity impacts them, featuring several prominent examples of protocols utilizing concentrated ilquidity.

# Understanding Liquidity Pools

Liquidity pools are pools of funds locked in smart contracts that enable users to trade digital assets without relying on traditional order book systems. These pools operate on the principles of AMMs, which utilize mathematical formulas to determine asset prices based on supply and demand. Users can contribute their tokens to a liquidity pool, and in return, they receive liquidity provider (LP) tokens representing their share of the pool's total value.

# The Role of Liquidity Pools in DeFi

Liquidity pools have emerged as a central component of decentralized finance protocols, providing a foundation for a wide range of financial activities, including token swaps, lending, borrowing, and yield farming. These pools facilitate the exchange of assets by pooling them together, allowing traders to easily swap one token for another without the need for an intermediary. In addition to providing liquidity and enabling smooth trading experiences, liquidity providers also contribute to the stability of asset prices. 

In fact, the more liquidity providers there are, the less likely it is that prices will be subject to sudden and drastic fluctuations. This is because a larger number of liquidity providers means that there are more market participants supplying and demanding assets. As a result, the market is more balanced, with supply and demand more closely aligned, reducing the risk of price instability. Furthermore, liquidity providers earn transaction fees proportional to their share in the pool, incentivizing participation and providing a source of income for those who provide liquidity. By enabling a wide range of financial activities and contributing to the stability of asset prices, liquidity pools have become an integral part of the decentralized finance ecosystem.

# Concentrated Liquidity: A New Paradigm

Traditionally, AMMs like Uniswap spread liquidity across the entire price range, allowing users to trade any amount of an asset within the pool. But with concentrated liquidity, liquidity providers (LPs) can focus their capital on smaller price intervals, resulting in individualized price curves, improved capital efficiency, and deeper liquidity for traders.

Previously, the XYK model was used in automated market makers (AMMs), which aimed to maintain a constant balance within a liquidity pool regardless of the tokens' current prices. However, this model spread liquidity across all price ranges, leading to smaller trading fee bonuses for LPs and higher slippage. The new model of pooling liquidity, known as concentrated liquidity, seeks to address these shortcomings by allowing LPs to allocate liquidity to specific price intervals and create unique price curves aligned with their preferences.

Under the concentrated liquidity model, when the price enters a certain range, the liquidity aggregated for that range starts collecting trading fees, which are distributed among LPs based on their contribution to the liquidity within that price range. As the price fluctuates, liquidity from different LPs is used for swaps, and traders benefit from the aggregated liquidity covering the current price, experiencing deeper liquidity and reduced slippage.

Concentrated liquidity offers advantages to both LPs and traders. LPs can allocate their capital to preferred price intervals, earn more fees, and use liquidity more efficiently. Traders enjoy deeper liquidity and reduced slippage. One decentralized exchange, Algebra Finance, supports concentrated liquidity and allows users to choose their desired price range when providing liquidity.

To use concentrated liquidity on Gamma, users can open the Pool section on the Gamma dApp, select a token pair, and specify the price range within which they expect their position to move. They have the option to provide liquidity across the full range or narrow their range based on market conditions. Typically, users set an approximate range around 30% of the current price. When the price falls outside the chosen range, liquidity providers stop earning fees, and their liquidity is converted into a single asset. You can find out more information about [Gamma concentrated liquidity pools here](https://docs.gamma.xyz/gamma/using-gamma/faq/concentrated-liquidity). 

While concentrated liquidity has provided effective ways for LPs and traders to capitalize on their assets, it also has certain disadvantages that will be discussed in future articles.

# Impact of Concentrated Liquidity

**Enhanced Capital Efficiency**: By focusing their capital on narrower price ranges, LPs can increase the utilization rate of their liquidity. This means that a larger portion of their funds is actively used for trading purposes, rather than sitting idle in less frequently traded price ranges. As a result, LPs can achieve higher capital efficiency because their liquidity is being utilized more effectively.

Customized Risk-Reward Profiles: By selecting specific price ranges, liquidity providers can tailor their risk exposure to their preferred risk-reward profiles. This flexibility empowers LPs to optimize their capital allocation strategies according to their individual preferences.

# Concentrated Liquidity Examples

**[Balancer](https://docs.balancer.fi/concepts/pools/protocol.html)** - Balancer is a prominent DeFi protocol that introduced the concept of concentrated liquidity pools. It enables liquidity providers to set custom weightings for multiple assets within a pool, allowing for dynamic exposure to different assets and optimizing capital efficiency.

**[Thena](https://thena.fi/) -** Thena, a decentralized exchange, has recently released concentrated liquidity pools on their platform. This allows stakeholders to direct future emissions and collect fees from the pools they voted for, while also providing enhanced capital efficiency and deeper liquidity for traders.

**[Chronos](https://app.chronos.exchange/liquidity) -** Chronos is a community-driven decentralized exchange (DEX) that operates as a liquidity layer and automated market maker (AMM) on the Arbitrum network. It aims to provide users with faster and cheaper transactions, while also enabling high liquidity and low slippage through its concentrated liquidity pools.

**[Glacier](https://www.glacier.exchange/swap) -** Glacier is a decentralized exchange (DEX) that provides lower slippage, lower fees, a high-value emission token, and deep liquidity for traders. It is a platform that utilizes concentrated liquidity pools to provide enhanced capital efficiency and customizable risk exposure for liquidity providers.

**[Ramses](https://www.ramses.exchange/)** — Ramses takes a unique approach to pairing incentive multipliers with liquidity concentration to achieve next-level capital efficiency. This disruptive method produces the lowest slippage currently feasible in DeFi. In addition, Ramses will have concentrated liquidity pools available in the near future.

# Conclusion

Liquidity pools have revolutionized DeFi by providing the necessary liquidity for various financial activities. Concentrated liquidity pools offer a novel approach, enabling enhanced capital efficiency and customizable risk exposure for liquidity providers. Through partnerships with platforms like Balancer, Curve Finance, and SushiSwap, concentrated liquidity is becoming an integral part of the DeFi ecosystem, further expanding the possibilities for efficient and flexible trading. As DeFi continues to evolve, liquidity pools and their various iterations will play a pivotal role in shaping the future of decentralized finance.

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Understanding Liquidity Pools: The Impact of Concentrated Liquidity

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Through solutions like bridging and liquidity pools on various chains, ankrETH is going truly omnichain.

In this article, we will explore Ankr's flagship product, ankrETH, on the Ethereum network, and delve into the exciting prospects of ankrETH on other chains, such as BNB, FTM, AVAX, Polygon zkEVM, and Arbitrum. Furthermore, we will discuss the next steps for Ankr, highlighting the token utility and the advantages of flash unstaking and liquid liquid staking narratives.

# Expansion of Omni-chain Solutions

Ankr's vision extends beyond Ethereum, as we bring the benefits of ankrETH liquid staking to multiple chains. By expanding our offering to chains such as Binance Smart Chain (BNB), Fantom (FTM), Avalanche (AVAX), Polygon zkEVM, and Arbitrum, we open up a world of opportunities for stakers. Each chain presents unique advantages and LP opportunities, with the potential for enticing APYs.

When users liquid stake their ETH with Ankr they receive ankETH on the Ethereum mainnet. Then, users can bridge their ankETH to others chains using the bridge feature on Ankr’s staking web app.

![Ankr Bridge.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Ankr_Bridge_e6addb8da6.png)


Or, you can also exchange your tokens on various chains for ankrETH on various DEXs. This not only unlocks users to reap the staking rewards of Ethereum staking on other chains but also allows greater interoperability of Ethereum with other chains. Ankr’s omni-chain solution is truly leading edge in the DeFi space.

# Empowering Ethereum Holders with ankrETH

Ankr's Ethereum [liquid staking solution](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/), initially introduced as aETHb/c and now known as ankrETH, holds the distinction of being the first to market in the realm of liquid staked Ethereum. Ankr's innovative approach revolutionized the staking landscape by offering users the ability to stake their Ethereum while simultaneously unlocking liquidity through the issuance of ankrETH tokens. This groundbreaking concept garnered significant attention within the DeFi community, propelling Ankr to the forefront of liquid staking offerings.

One of the key factors that sets Ankr apart is its impressive annual percentage yield (APY). Ankr not only provides users with the opportunity to stake their Ethereum and earn staking rewards but also ensures that they receive one of the highest APYs among all liquid staked Ethereum offerings in the market. This attractive APY incentivizes users to participate in Ankr's liquid staking ecosystem, as they can maximize their earnings while still having access to the liquidity of their staked assets.

Furthermore, Ankr solidified its position as an industry leader by being the first solution to [unlock unstaking after the Shanghai upgrade](https://www.ankr.com/blog/road-to-shanghai-upgrades/?search=shanghai&page=1). This upgrade, implemented on the Ethereum network, introduced important protocol changes and improvements. Ankr swiftly adapted to these changes, enabling users to easily unstake their Ethereum and convert their ankrETH back into Ethereum when needed. This flexibility and responsiveness further establish Ankr as a trailblazer, setting the standard for liquid staked Ethereum and providing users with enhanced control over their staked assets.

# Liquid Staked Ethereum Omni-Chain Yield Farming

You can claim competitive APY with ankrETH on chains like the Binance Smart Chain (see the [Thena Pool](https://thena.fi/liquidity)).

![Ankr Bridge 2.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Ankr_Bridge_2_ce7d166465.png)

With an APY of ~20% and the staking yield added on top of that from ankrETH you can earn industry-leading yield by adding your ankrETH to liquidity pools on DEXs.

Thena provides two ankrETH options. One pair includes ankrBNB with the ankrETH and the other pool includes ETH with the ankrETH. You can either swap for ankrETH or you can provide liquidity to the pool and earn yield.

If you’re looking for other competitive yield farming strategies with other Ankr liquid staking tokens we’re recommend checking out the [Beethoven X ankrFTM pool](https://beets.fi/pool/0x8fda1835d346cf3d22c01742d2edbb0831402a3a000200000000000000000700) and [Midas capital ankrBNB pool](https://app.midascapital.xyz/56/pool/18).

# Improving Token Utility and Capital Efficiency

Ankr's commitment to token utility is a driving force behind our innovative approach to liquid staking. The utility of ankrETH is consistently increasing, especially in regards to the multiple liquidity pools supporting ankrETH and Ankr’s other liquid staking tokens. Therefore, if you’re looking for maximum capital efficiency with your ETH, ankrETH is the way to go. Not only do you maintain liquidity of your staked tokens but you can use those staked tokens in multiple different ways to increase your yield in the DeFi market.

On top of that, ankrETH will soon bring other benefits like [flash unstaking](https://www.ankr.com/blog/Tradicional-vs-Flash-Unstaking/?search=flash+unstaking&page=1), which will allow for instant liquidity when needed. This capability is particularly advantageous in volatile market conditions or when taking advantage of time-sensitive opportunities.

Moreover, Ankr's focus on becoming the most liquid liquid staking in the market further amplifies the benefits for users. By enabling the seamless transfer and staking of ankrETH and other liquid staked derivatives between chains, Ankr maximizes capital efficiency while reducing the barriers associated with cross-chain transactions. Ankr’s liquid staking solutions provide maximum liquidity of your assets. 

# Conclusion

Ankr's omnichain liquid staking efforts have propelled the DeFi industry forward, providing users with unparalleled flexibility and earning potential. With ankrETH leading the charge on Ethereum and plans to expand to other chains, Ankr continues to revolutionize the staking landscape. By prioritizing omnichain solutions like bridging and maximizing token utility we ensure that you can maximize their capital efficiency and make the most of their staked assets.


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Ankr Unlocks the Power of Omnichain Liquid Staking

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This article is a guest post written by Carlos Mazzaferro, the CTO of Midas Capital. 

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**TLDR:** By leveraging Midas’ unique borrowing, lending, and yield capabilities, Ankr is revolutionizing the DeFi space by enabling the widespread adoption of Liquid Staked Derivatives (LSDs) as a core component of major DeFi systems. This enables higher capital efficiency, increased yield opportunities, and increased total value locked securing a chain's consensus.


In particular, by leveraging LSDs to their full DeFi extent, Ankr is enabling users to take part in the same DeFi activities as before (e.g. liquidity provision to AMMs and Money Markets, borrowing and lending, leverage farming) but with far higher yields & capital efficiency & lower costs.


# What is Ankr?


Ankr is web3 infra with liquid staking pools on ETH, Polygon, BNB, AVAX, FTM, DOT and Gnosis. Ankr liquid staking pools combine over 100M in TVL with the biggest pools on ETH and BNB.


Ankr is leading the space in terms of providing more capital efficient manners of liquidity provision. Their focus on incentivizing the usage of a natively-yielding token not just as investment vehicle, but also as a key component of multiple DeFi systems opens up for the users unique ways to further their earnings all the while increasing the chain’s security. 


# What did they need?


There are two aspects worth mentioning in terms of Ankr’s needs:


1. Deepen the liquidity of the AMM liquidity pools that support Anrk’s LSD token, ankrBNB
2. Increasing the utility and capital efficiency of ankrBNB, by making it a core component of money markets and AMMs


In terms of the first requirement, the Ankr Treasury was interested in a solution that would enable them to leverage their ankrBNB reserves to further deepen the liquidity of their LP pairs on an AMM exchange. In order to do so, they needed a borrowing and lending protocol that would allow for such asset to be borrowed at competitive rate.


Midas came to be the best (and only) place to do so. By allowing the collateralization of high-yield tokens such as Thena LP tokens [1] ($ankrBNB-ANKR LP,  ankrBNB-HAY LP, etc.), Ankr is now able to deposit their LP tokens into Midas, borrow ankrBNB against them, and redeposit the ankrBNB into the Thena LPs.


As for the second aspect, Ankr wanted to empower their users with the ability to further increase the utility of their liquid staked derivative. By allowing users to provide liquidity to the Midas Pool in the form of ankrBNB, users are now able to further unlock their liquidity by borrowing stablecoins at a low interest rate from the pool, while earning a reliable and low risk yet high APR on their liquid stake derivative, ankrBNB.


# Why did they choose Midas?


Midas allows full customization of pool parameters. Ankr is a sophisticated organization and wanted to control all aspects of the pool. The parameters they changed included:


- Interest rate curves. They wanted a fully customized interest rate model that uses an oracle to determine the borrow interest based on the ankrBNB staking rewards rate, to incentivize optimal utilization.


Midas is also the only platform that is able to support a wide range of yield-bearing collaterals including LP tokens from every leading DEX. This was important for Ankr because they have various volatile and stable LPs across different platforms that they wanted in the pool.


On the security side, they wanted fine-grained control over risk parameters, a crucial feature for enabling support for long-tail assets. Midas Capital supports Debt Ceilings, Supply Caps, Borrow Caps among other security-related parameters that are controllable per pool. More info on Midas’ offerings can be found in the [Midas Capital Docs](https://docs.midascapital.xyz/partner-and-pool-operator-documents/pool-customisations/the-markets#market-risk-factors). 


The isolation features of Midas, meaning that other pools do not affect the Ankr pool, was also a major selling point of the Midas platform.


# How did Midas solve the problem?


Midas deployed an [isolated pool](https://app.midascapital.xyz/56/pool/18) for Ankr focused on the ability to borrow, lend, and collateralise a variety of yield-bearing assets . 


Midas developed a custom interest rate model able to effectively incentivize the optimal utilization of ankrBNB. More specifically:


- Ankr, as a leading borrower of ankrBNB, needed to be able to borrow at a cheaper rate than the APRs earned on their LP positions used to collateralize the borrows
- ankrBNB depositors needed to be able to earn higher APYs on Midas than anywhere else, so that they were incentivized to supply more ankrBNB to the pool. This creates a competitive advantage for Ankr’s liquid staking platform as they are able to offer a product with a higher yield than staking BNB elsewhere, which will attract more BNB to be staked with Ankr and solidify Ankr’s position as a leader in the space.
- We developed an Interest Rate Curve that incentivized the borrow rate of ankrBNB to match the average yield across the other collateral token supplied at the optimal utilization rate of 75%. To give a concrete example:
    - Collateral HAY-ankrBNB LP → avg 40% APY
    - Collateral ANKR-ankrBNB LP → avg 35% APY
    - Collateral HAY-BUSD LP → avg 25% APY
    - Borrowable ankrBNB  rate: set at 33% when there’s 75 % utilization of the pool
    - The final model parameters and formula can be found [here](https://docs.google.com/spreadsheets/d/1ODrtYcsUIBn6o-3vWrNCreY5ICrSIzuv/edit#gid=1720509993)
        

![jump rate model.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/jump_rate_model_71ceb1adba.png)
      
  

# What was the process?


Discussion and brainstorming with Ankr about the potential mutual benefits and modes of interaction between the protocols. Mapped out the pool requirements including collaterals supported, borrowable assets, and risk parameters.


Discussed and implemented the advanced mechanics of the pool including:


- Yield capabilities of the pool
    - ERC4626 strategies for the collateral tokens
- Liquidity mining rewards to be issued, both in ANKR and HAY
- Optimal Interest Rate Curve definition


After mapping everything out, we created the pool using Midas’s intuitive no-code UI for pool creators.


Furthering the effectiveness of this solution is the fact that Midas’s markets are powered by the ERC4626 standard, which allows tokens that are deposited into it to be subject to arbitrary “strategies” that allow such tokens to be used elsewhere. This allows the LP tokens deposited to be staked directly into Thena Gauges, which allows depositors to earn all the Thena rewards issued by the Gauges, without losing the ability to borrow against them. This was a particularly important requirement for Ankr, which was interested in retaining THE rewards to be able to vote in their Gauges. 


---


Thank you for reading this guest post from the CTO of Midas Capital. 


Learn more about [Midas Capital](https://www.midascapital.xyz/) and Ankr for your DeFi solutions.


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Midas Capital and Ankr: Empowering DeFi Users with Innovative Liquidity Solutions

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# The Ankr Liquid Staking Solution


The partnership between Ankr and Midas has resulted in the creation of [an innovative liquidity pool](https://app.midascapital.xyz/56/pool/18) that addresses one of the key limitations of traditional staking. With the Ankr [Liquid Staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) solution, users can earn rewards while maintaining their asset liquidity. However, the latest addition of the isolated lending and borrowing pool for AnkrBNB with the additon of HAY, and Thena LPs opportunities takes this to the next level.


# Unlocking Isolated Lending Pools


The [isolated pool solution](https://app.midascapital.xyz/56/pool/18) offered by Midas in a partnership with Ankr is a custom interest rate model that guarantees a minimum yield for lending LPs higher than other pools. This makes it more rational for users to provide liquidity for such pools without the need for unreasonable incentives. It enables users to lend and borrow assets in a single pool, which is a major innovation in the DeFi space.


[The pool](https://app.midascapital.xyz/56/pool/18) not only has AnkrBNB but also HAY and Thena LPs. This allows users to deposit and borrow against different assets, providing them with greater flexibility and capital efficiency. Midas automatically stakes the LP position on Thena, enabling users to acquire THE rewards while being able to borrow against their LP position.


# The Efficiency of Ankr and Midas' Solution


Moreover, by leveraging the yield generated from Thena LPs, users can borrow the assets that compose the LP and deploy them on Thena again, compounding their earnings and maximizing their returns. This provides users with a powerful tool for managing their cryptocurrency assets and earning passive income through staking and liquidity provision.


The Ankr and Midas partnership is a game-changer in the DeFi space. It provides a flexible and efficient way to participate in staking activities while maintaining liquidity. The isolated pool solution ensures that users have access to a minimum yield for lending LPs, which is higher than other pools, ensuring they get the best returns on their investments.


One of the key advantages of this innovative solution is that it allows users to participate in staking activities without sacrificing liquidity. This is essential in a rapidly evolving market like DeFi, where the value of different assets can change rapidly. With this liquidity pool, users can keep their assets liquid while earning rewards, which is a unique proposition in the DeFi space.


Another key advantage of the [Ankr and Midas partnership](https://app.midascapital.xyz/56/pool/18) is the efficiency of their solution. The new IRM implemented eliminates the need for unreasonable incentives to attract liquidity, as users have access to a minimum yield higher than other pools. This ensures that liquidity providers get the best returns on their investments, with minimal effort and time.


# Ankr’s Growing Focus on the Binance Smart Chain


Ankr has been focusing on the Binance Smart Chain and has partnered with to increase the TVL of ankrBNB. By doing so, they have achieved the highest TVL on BSC. Ankr also has a massive BNB pool with innovations that get at capital efficiency. 



Ankr has been focusing on growing the total value locked (TVL) and utilization of ankrBNB on the Binance Smart Chain (BSC). Currently, Ankr has the highest TVL of liquid staked BNB on the BSC network due to our consistent work in the ecosystem. Furthermore, Ankr has released ankrETH on the Binance network as well. 

In addition, Ankr has developed a massive BNB pool with innovations that increase capital efficiency. By focusing on the BSC network, Ankr is able to offer innovative capabilities to the DeFi space, making it an attractive option for those looking to participate in the non-custodial crypto ecosystem. 


# Participate in the Liquidity Pool


![M1.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/M1_d831090837.png)


If you are interested in participating in the Ankr Liquid Staking solution with the isolated lending and borrowing pool, you can check it out on Midas Capital Pool **[here](https://app.midascapital.xyz/56/pool/18)**. 


This innovative solution is set to change the game for DeFi liquidity provision. By using a separate lending and borrowing pool, Ankr Liquid Staking provides users with greater flexibility in terms of staking and lending their assets. This means that users can earn rewards both from staking and lending their assets, which in turn leads to greater capital efficiency


## How to Acquire ankrBNB for Liquidity Pool


To acquire ankrBNB, users can go to [Ankr's staking dashboard](https://www.ankr.com/staking/stake/bnb/) and stake their BNB. This will allow them to earn rewards in the form of [ankrBNB](https://coinmarketcap.com/currencies/ankr-staked-bnb/), which can then be used to participate in the innovative liquidity pool created by Ankr and Midas. Alternatively, users can trade for ankrBNB on secondary exchanges (see [full list of DEXs with ankrBNB](https://www.ankr.com/staking/defi/?networks=bnb)).


Staking BNB on Ankr's staking dashboard is a straightforward process that can be completed in just a few steps. Once a user has staked their BNB, they will begin earning rewards in the form of ankrBNB, which can be used to participate in the liquidity pool. Trading for ankrBNB on secondary exchanges like DEXs is another option for users who do not have BNB to stake. However, it is important to note that trading on DEXs can be riskier than staking on Ankr's dashboard, so users should exercise caution and do their research before making any trades.


![M2.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/M2_7286e511af.png)



## Deposit ankrBNB in the Midas Pool


To get started all you’ll need to do is deposit your newly acquired ankrBNB into the Midas pool. You will do this by first navigating to [the Midas Pool](https://app.midascapital.xyz/56/pool/18), and then clicking on the row that says ankrBNB.  


![M3.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/M3_861adab5fc.png)


From there you will click supply. 


![M4.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/M4_ac439a2eb2.png)


Which will prompt you to deposit the amount of ankrBNB that feels suitable for you. As of writing this, the APY is a whopping 23.76% for supplying ankrBNB. So not only will you get the staking yield from having BNB liquid staked, you’ll also receive a double digit yield on top of that. 


![M5.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/M5_a622cc33de.png)


# Conclusion


In conclusion, the Ankr and Midas partnership and the launch of the innovative liquidity pool with isolated lending and borrowing is a significant development in the DeFi space. It addresses the limitations of traditional staking by providing a flexible and efficient way to participate in staking activities while maintaining liquidity. The addition of the isolated pool solution ensures that users have access to a minimum yield higher than other pools, which makes it more rational to provide liquidity. With greater flexibility and capital efficiency, this innovative solution is set to change the game for DeFi liquidity provision.

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Ankr and Midas Partner to Launch Innovative Liquidity Pool

![real fantom.jpg](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/real_fantom_b2063b99f8.jpg)

Ankr is a leading provider of Web3 infrastructure, dedicated to making the decentralized world more accessible and user-friendly. Liquid staking is one of the services that Ankr offers, and it has quickly become a popular way for investors to earn rewards on their staked assets. In this article, we will explore Ankr's move to the Fantom network and how this will benefit investors.

# What We’re Doing At Ankr

Ankr is a blockchain infrastructure company that provides Web3 solutions for developers, enterprises, and end-users. Ankr's mission is to create an accessible and user-friendly decentralized world, and they do this by providing a full-stack Web3 infrastructure platform that makes it easy for anyone to build, deploy, and use blockchain applications.

Ankr's platform offers a wide range of services, including node hosting, staking, and many developer-focused services like RPC nodes and app chains. The company's services are designed to be affordable, scalable, and secure, making it easy for developers to build decentralized applications and for end-users to access them.

# Liquid Staking

Liquid staking is a relatively new concept in the world of blockchain, and it allows investors to earn rewards on their staked assets without sacrificing liquidity. When investors stake their assets, they are essentially locking them up in a smart contract, which makes them illiquid. However, with liquid staking, investors can receive a token that represents their staked assets, which they can then use to trade or provide liquidity in a decentralized exchange (DEX).

Ankr has quickly become a leader in the liquid staking space, with the highest Total Value Locked (TVL) for liquid staked BNB on the Binance Smart Chain using ankrBNB.

The idea behind liquid staking is to allow investors to earn staking rewards while also providing liquidity to DeFi protocols, increasing the efficiency and accessibility of these protocols. The benefits of liquid staking are significant, including increased flexibility and liquidity for investors, increased security for PoS networks, and increased efficiency of DeFi protocols.

## Increased Capital Efficiency of Liquid Staking

One of the primary benefits of using liquid staking tokens in DeFi protocols is the increased capital efficiency they provide. Instead of requiring additional collateral to generate liquidity, staked tokens can be used directly, reducing the amount of capital needed to participate in DeFi activities. This increased efficiency can help drive down transaction costs and make DeFi protocols more accessible to a wider range of users. Furthermore, as the number of investors participating in liquid staking increases, the amount of staked tokens available for liquidity provision will also increase, leading to greater liquidity and more opportunities for users to participate in DeFi activities.

## Using Capital Efficiency for Yield Earning

Another benefit of using liquid staking in liquidity pools is the potential for increased rewards over time. As the TVL in the pool grows, so does the value of the staked tokens, potentially leading to both staking rewards and a share of the fees generated by the liquidity pool. As more users participate in the pool, the value of the staked tokens will continue to increase, potentially leading to even greater rewards for participants. This creates a positive feedback loop where increased liquidity leads to increased rewards, which in turn attracts even more liquidity to the pool.

# Ankr's Move to Fantom

Ankr is focusing on increasing its liquid staking TVL on the Fantom chain, which is known for its low transaction fees and fast confirmation times. Ankr's move to the Fantom network will provide investors with a more accessible and user-friendly platform to earn rewards on their staked assets.

First, Ankr has enabled the bridging of ankrETH to the Fantom chain. This means that investors can now stake their Ethereum-based assets on the Fantom network and earn rewards in FTM. Investors can bridge their ankrETH to the Fantom chain by using the AnkrETH bridge, which is available on the Ankr website.

Second, ankrFTM is growing in popularity and has many utilities. The ankrFTM token is used in several liquidity pools, which allow investors to provide liquidity and earn rewards. One such pool is the Beethoven X pool, which has a total value locked of $970k and a high yield in the double digits. The Beethoven X pool is available on the Beets Finance platform and is an essential component of Ankr's broader strategy to expand its TVL on other chains.

# Utilities of ankrFTM

![Screenshot 2023-04-18 at 2.03.50 PM.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Screenshot_2023_04_18_at_2_03_50_PM_6dd2de9e8b.png)


The ankrFTM token has several utilities, including the ability to provide liquidity in various pools. The [Beethoven X pool](https://beets.fi/pool/0x8fda1835d346cf3d22c01742d2edbb0831402a3a000200000000000000000700), which is available on the Beets Finance platform, is one of the most popular pools, with a total value locked of $970k and a high yield in the double digits.

Investors can provide liquidity in the [Beethoven X pool](https://beets.fi/pool/0x8fda1835d346cf3d22c01742d2edbb0831402a3a000200000000000000000700) by using their ankrFTM tokens. In return, they will receive LP tokens, which they can then use to trade or provide liquidity in a DEX. The Beethoven X pool is an excellent opportunity for investors to earn rewards while exploring the world of DeFi.

# Conclusion

Ankr is a leading provider of Web3 infrastructure, and they are quickly becoming a popular choice for investors who want to earn rewards on their staked assets. Ankr's move to the Fantom network will provide investors with a more accessible and user-friendly approach.

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Ankr’s New Focus: Growing Liquidity on Fantom Chain

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Ankr has become the first provider to offer the ability to unstake liquid staked Ethereum, thanks to the recent Shanghai upgrade that took place on April 12. This upgrade has paved the way for greater flexibility and liquidity for users who want to unlock their Ethereum for purposes other than staking rewards.

# The Shanghai Upgrade

The upgrade to Ethereum has been highly anticipated for some time and is set to have a significant impact on the blockchain ecosystem. The key feature of the upgrade is the ability to unstake Ethereum that has been staked on the chain for months. This means that users can now access their staked assets and utilize them in other applications, trading, or transfer them without the restriction of their assets being locked on the chain.

# ankrETH is Unstakeable

Ankr's unstaking feature is currently available now that the shanghai upgrade to the Ethereum network has been implemented. Ankr’s liquid staked Ethereum token called ankrETH can be traded on various decentralized exchanges, providing liquidity for staked assets as well as unstaked directly on the Ankr staking web app itself. 

Ankr's unstaking feature is a significant step forward for the DeFi industry, as it provides more flexibility and control for users. The platform's innovative approach to [liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) has opened up new possibilities for the staking industry, and it will be interesting to see how other platforms respond to this development.

# Staking Industry is Growing

Finally, Ankr's innovative approach to liquid staking has opened up new possibilities for the staking industry. By allowing for the unstaking of liquid staked assets, Ankr has given users more control over their assets and provided a new way for them to participate in the DeFi ecosystem.

We expact that many other liquid staking platforms will follow suit, but if you’re interested in owning liquid staked assets that you can unstake at any time, Ankr is that option. 

# Conclusion

In conclusion, Ankr's innovative solution to enable the unstaking of liquid staked Ethereum is a groundbreaking development for the blockchain ecosystem. Thanks to the Shanghai upgrade, Ankr is now the first provider to offer this solution, providing users with greater flexibility and control over their staked assets. This is set to have a significant impact on the future of staking and DeFi, and we can expect to see more innovations in this space as the blockchain ecosystem continues to evolve.

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Ankr Offers First Unstaking Capability for Liquid Staked Ethereum

![Road to Shanghai.jpg](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Road_to_Shanghai_d2e778fbb4.jpg)



In the near future, Ankr is set to launch a series of updates that will significantly enhance the user experience of liquid staked ETH (ankrETH). These updates are a result of the upcoming Shanghai upgrade, and will include new bridges and integrations, flash unstaking, an ETH Validator Hub, and much more. In this article, we will be taking a closer look at all of the different upgrades that are going live for ankrETH as a result of the Shanghai upgrade, and discussing how they will benefit platform users.

# Unstake Your Liquid Staked ETH with Ankr


Ankr has implemented an update that will allow users to unstake their ankrETH tokens immediately following the upgrade. Some would say that the Shanghai is the most long awaited upgrade to the Ethereum network following the merge. Billions of dollars of ETH will be unlocked and if you hold ankrETH you will be able to unstake your assets and receive ETH in return for the first time ever. 


Furthermore, Ankr is one of the first liquid staking platforms to unlock this feature. 


# More Bridges for Ankr’s Liquid Staking Tokens


Ankr has announced a range of new bridges and integrations to enhance user's blockchain experience. With the new bridges, users can now take advantage of other blockchain ecosystems such as Avalanche, Polygon's zkEVM, and Fantom. 


The new AnkrETH to Avalanche bridge will provide users with access to Avalanche's vast DeFi ecosystem, which includes decentralized exchanges, lending platforms, and yield farming opportunities. 


Similarly, the AnkrETH and ankrMATIC bridges to Polygon's zkEVM and Fantom will enable Ankr users to access the thriving DeFi protocols on these ecosystems. These new bridges and integrations will not only increase the value of users' staked funds but also open up new possibilities for exploring and participating in other blockchain ecosystems.


# ETH Validator Hub


Another upgrade that will go live along with the Shanghai upgrade is the ability to have more agency and control over the validators that your ETH are being delegated to. Whereas before this upgrade you didn’t have control over which validator you got to delegate your staked ETH to, now that will change. 


The ETH Validator Hub upgrade from Ankr will consist of several features and services designed to provide users with greater control over their assets and mitigate risks associated with liquid staking. The first feature is an open marketplace that will allow users to choose which nodes to delegate their assets to, giving them greater flexibility and control over their investments. Additionally, the ETH Validator Hub will offer slashing protection pools to help protect staked assets from the risk of slashing. This is particularly important given that Ethereum does not natively support delegate staking like many other proof-of-stake networks.


Node operators will be able to choose whether to have a slashing pool or not, and the decision to delegate ETH validation keys to a node operator with or without a slashing pool is up to delegate stakers. Ankr will provide the underlying infrastructure to support the ETH Validator Hub, including onboarding new node operators and ensuring the marketplace is transparent for all parties involved. With these upgrades, Ankr is positioning itself as a leading DeFi platform, offering users a range of opportunities to earn passive income and take advantage of the rapidly evolving DeFi ecosystem on the Ethereum network.


Furthermore, rewards earned from staking are automatically compounded, creating a compounding effect that generates even more rewards over time. Restaking provides an easy and efficient way to earn more passive income through staking, catering to users seeking higher yield without complex DeFi strategies. Restaking also makes on-chain slashing coverage more capital efficient for node operators, as they can now share a lower portion of their operator fees with slashing pool stakers who receive additional restaking rewards on top of the ETH staking APY.


# Cubist Integration


Once the Shanghai upgrade goes live you’re withdrawals will be secured as a result of Ankr’s partnership with Cubist. We’ve partnered with Ankr to provide security upgrades that enhance the process of unstaking and withdrawing ETH. Some of the components of this upgrade include enhanced security functions for deposit and withdrawal to ensure that your assets are protected and safe. Cubist has also implement a comprehensive backend to safeguard validator keys. Lastly, Cubist offers an on-chain–verifiable deposit and withdrawal flows so that you will have increased transparency into the whole process. 


# Ankr’s Price Feed Oracle


To further enhance the value of ankrETH, Ankr is introducing a price feed oracle that will provide accurate and timely data on the value of ankrETH. This will enable users to make informed decisions about their investments and trade with confidence. Additionally, AnkrETH will be listed on popular lending markets, which will provide users with even more opportunities to generate passive income from their staked funds. By expanding the number of platforms on which AnkrETH is available, Ankr is increasing its reach and making it easier for users to access this valuable asset. As a result, users can expect greater transparency and security around the value of their holdings, as well as a wider range of investment options that can help them achieve their financial goals.


# Flash Unstaking Going Live on More Chains


Finally, Ankr is introducing flash unstaking on other blockchain ecosystems, including BNB Chain, Polygon, Fantom, and Avalanche. This will enable users to quickly and easily withdraw their staked funds on these networks, further increasing the liquidity and flexibility of their holdings.


By offering flash unstaking on multiple blockchain ecosystems, Ankr is providing users with more options and greater flexibility when it comes to managing their holdings. This will also help to increase liquidity, as users will be able to quickly convert their holdings to other assets if they so choose.


In addition, the introduction of flash unstaking on these networks represents a significant step forward in terms of accessibility. With this feature, users will be able to quickly and easily withdraw their funds, without having to navigate complicated and time-consuming withdrawal processes. This will make it easier for new users to get started with staking, as they will not have to worry about the pain of unbonding periods. 


# Distributed Validator Technology Going Live


Ankr has partnered with the SSV Network and Obol to integrate their decentralized node operation technology into Ankr's liquid staking product. This new technology utilizes SSV's Secret Shared Validator or Distributed Validator Technology (DVT) to split validator keys between four operators, improving the uptime and slashing risks associated with validator node operation. With this technology, node operators do not need to trust each other, and none can make unilateral decisions on behalf of the validator, thus increasing the security of the network. The integration of this technology into Ankr's liquid staking product will provide users with a trustless solution, reducing the risk of slashing and diversifying risk. Ankr will offer two liquid staking solutions, classic Ethereum liquid staking, and the SSV trustless liquid staking solution, after the launch.


Liquid staking has always had a risk of slashing. The biggest obstacle that has stopped users from engaging with liquid staking was the uncertainty about the slashing risk involved with liquid staking assets. SSV technology has provided a way to reduce failures and diversify risks by combining independent SSV nodes into a robust network that can outperform any individual ETH staking setup. With Ankr's liquid staking product and SSV's innovative technology, investors can make smarter Ethereum liquid staking investment decisions without having to worry about the risks of slashing.


# Conclusion


Overall, Ankr's upgrades provide users with greater flexibility, control, and opportunities for earning passive income. Ankr's expansion to other blockchain ecosystems increases the value of users' staked funds and opens up new possibilities for exploring and participating in other blockchain ecosystems. With Ankr's commitment to security and transparency, users can rest assured that their assets are protected and safe, and that they have access to accurate and timely data on the value of their holdings. Ankr's upgrades highlight the importance of innovation and adaptation in the rapidly evolving DeFi landscape and position Ankr as a leading DeFi platform for the future.

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Liquid Staking Upgrades: Responding to the Shanghai Upgrade

![Ankr_Liquid_Staking_Trading_At_Discount.jpg](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Ankr_Liquid_Staking_Trading_At_Discount_dde2e43549.jpg)


Ankr is a blockchain infrastructure platform that offers a liquid staking service that enables holders of Proof of Stake (PoS) assets to earn staking rewards without the need for a lock-up period. Recently, Ankr's liquid staking assets have been trading at a discount compared to their main chain counterparts, which creates an arbitraging trading opportunity for traders and investors.


# Ankr's Liquid Staking Assets: Trading at a Discount


Ankr's liquid staking assets, such as ankrETH and ankrBNB, are trading at a discount compared to their main chain tokens. For example, ankrETH is trading at a discount in comparison to ETH, and ankrBNB is cheaper than BNB. This creates an opportunity for traders and investors to buy these [liquid staking tokens](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) and then un-stake them on Ankr's liquid staking web app to earn staking rewards.


Ankr's liquid staking service allows users to earn staking rewards without the need for a lock-up period, which is a unique feature compared to other staking services. This feature enables users to unstake their tokens and trade them without any restrictions, which adds to the trading opportunity presented by the discounts on Ankr's liquid staking assets.


# Shanghai Upgrade on Ethereum


Additionally, the upcoming Shanghai upgrade on the Ethereum network enables unstaking of assets, which adds to the trading opportunity presented by ankrETH. The upgrade hasn’t gone live to the Ethereum network quite yet but is set to be rolled out in the very near future. When the upgrade is released users will be able to unstake their ETH from the Ethereum network. 


Therefore, if you’re interested in an easy arbitraging opportunity you can buy ankrETH at a discount from various DEXs, then unstake the ankrETH on Ankr's liquid staking web app following the Shanghai upgrade and therefore redeeming it for more than what you initially paid for it due to the discount.


# The First Liquid Staking ETH to Unstakable


AnkrETH is set to become redeemable from day one after the Shanghai update is integrated into the mainnet. This means that users will be able to redeem their ankrETH for ETH as soon as the Shangai update is live. This is an exciting development for Ankr and their ankrETH stakers as it will allow ankrETH to be the first redeemable liquid staking token on the market. 


# Arbitraging Opportunity


The discounts on Ankr's liquid staking assets create an arbitraging  opportunity for traders and investors. Users can buy ankrETH and ankrBNB at a discount and then unstake them on Ankr's liquid staking web app to earn staking rewards. After the staking period is over, users can unstake their tokens and redeem them for more than what they initially paid due to the discounts.


This arbitraging opportunity enables users to profit from the discounts on Ankr's liquid staking assets and earn staking rewards without the need for a lock-up period. The fact that Ankr's liquid staking assets are trading at a discount compared to their main chain tokens makes this opportunity even more attractive.


# Arbitraging with BNB Flash Unstaking


Ankr has released the ability to [rapidly unstake your liquid staking BNB](https://www.ankr.com/blog/Ankr-Announces-BNB-Flash-Unstaking-SUI-Testnet-and-More/) tokens(ankrBNB) through [flash unstaking](https://www.ankr.com/blog/Tradicional-vs-Flash-Unstaking/). This opens up the possibility for more accessible and rapid arbitraging of the ankrBNB/BNB trading discount. With flash unstaking you can swap liquid staked BNB for BNB instantaneously.



# Conclusion


In conclusion, Ankr's liquid staking assets trading at a discount compared to their main chain tokens present an arbitraging  opportunity for  investors. The fact that Ankr's liquid staking service enables users to earn staking rewards without the need for a lock-up period adds to the trading opportunity presented by the discounts. The upcoming Shanghai upgrade on the Ethereum network further adds to the trading opportunity presented by ankrETH.

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Ankr's Liquid Staking Assets Discount: The Last Chance 

Ankr, the leading Web3 infrastructure company, has recently partnered with Coin98, a comprehensive crypto super app, to provide liquid staking services to users worldwide. As part of this collaboration, Ankr has built a whitelabel solution for Coin98 to offer liquid staking for ETH and BNB.

# What is Coin98?


Coin98 is a crypto super app that connects users to the world of cryptocurrencies in a safe and secure manner. With over 6 million users globally, Coin98 offers a wide range of services, including a non-custodial, multi-chain NFT & cryptocurrency wallet, built-in DEXs, cross-chain bridge & DApp browser, a powerful terminal, attractive earn, gift & campaign, and more.


# The Value of Liquid Staking to DeFi


[Liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) has become increasingly popular in the DeFi space, especially after the success of The Merge. It is a more efficient form of staking that allows users to stake any amount of tokens and instantly unlock their staked tokens, unlike traditional staking, which requires a certain amount of tokens and staking for a specific length of time. Liquid staking enables users to utilize idle staked assets within the DeFi ecosystem, while still contributing to the stability and security of the network.


# Whitelabel Solutions


Through Ankr's liquid staking solution, Coin98 can offer its users a simple and user-friendly interface, making it easier for them to access this expanding industry and maximize their capital efficiency. Coin98 supports staking ETH and BNB, and users receive CETH and CBNB in return for staking. This helps users not only earn passive income through staking rewards but also provides flexible return potential in the larger DeFi market.


Ankr's whitelabel liquid staking solution enables businesses to have their own liquid staking solution, allowing them to offer this service to their customers seamlessly. Ankr's solution can be customized to meet the specific needs of each business, providing a simple and efficient way to stake tokens and earn rewards.


In summary, Ankr has built a whitelabel liquid staking solution for Coin98, enabling them to offer liquid staking for ETH and BNB. Liquid staking is a more efficient form of staking that allows users to make money from idle assets while contributing to the stability and security of the network. Ankr offers businesses a whitelabel liquid staking solution that can be customized to meet their specific needs, making it easier for them to offer this service to their customers.


# Coin98 Case Study


Ankr and Coin98, two leading players in the crypto industry, have announced their partnership to offer a whitelabel liquid staking crypto solution. This partnership aims to provide users with an easy and accessible way to stake their assets and earn rewards while maintaining liquidity.


The partnership between Ankr and Coin98 is a significant step in the adoption of liquid staking. Ankr, a leading provider of blockchain infrastructure, will offer its cutting-edge technology for staking and node management, while Coin98 will provide its expertise in user interfaces and user experience.


The partnership comes at a time when crypto adoption is growing at an unprecedented rate. Many investors are looking for ways to earn passive income from their assets, and staking has emerged as a viable option. However, traditional staking methods require users to lock up their assets for a long time, which can be a deterrent for some investors.


# Conclusion


In conclusion, the Ankr and Coin98 partnership is a significant development in the crypto industry. It offers a whitelabel liquid staking solution that will enable users to stake their assets and earn rewards while maintaining liquidity. The solution is expected to accelerate the adoption of liquid staking and provide greater accessibility and flexibility to users.


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Introducing Whitelabel Liquid Staking Solutions w/ Coin98 Partnership

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In this article, we will talk about how we at Ankr are partnering with Pendle to launch a liquidity pool and listing our ETH/AnkrETH Aura pool on the platform as well as dive into the basics of Pendle, explore how it works, the opportunities it presents, and the risks associated with it.


# What You Need to Know About Pendle


## What it is


Pendle enables the permissionless tokenization and trading of yield. Pendle allows anyone to purchase assets at a discount, obtain fixed yield, or long DeFi yield. Their protocol enables users to enact advanced yield strategies like long assets at a discount, fixed yield for low-risk and stable growth, and long yield strategies with ease. They take the complex, multi-protocol strategies out of the picture and make everything accessible within their web app.


## How does Pendle work?


Pendle saw that DeFi yields fluctuates, yield rates shoot up during volatile periods and are depressing during bear markets. Pendle allows users to speculate on the yield of any asset, increase your yield exposure in bull markets or hedge against yield downturns via fixed yield during bear markets.


Pendle enables users to trade and speculate on future yields. This is enabled by first, tokenizing the yield of a yield-generating asset into two separate components (Principal Token and Yield Token), and trading those assets with the Pendle AMM.


YT (Yield Token) receives the yield of the underlying yield-bearing tokens while PT (Principal Token) represents the principal capital of the asset. As the yield have been stripped from the underlying, PT trades at a discount and is redeemable for full value of the underlying at maturity. Since YT represents only the yield of the underlying, trading it is equivalent to speculating on how much yield it will receive up to maturity.


# The Opportunities Presented by Pendle


Pendle lets users have the reign on their yields by getting fixed yield with PT, long DeFi yields with YT or earn extra yields by simply providing liquidity. These yield strategies can be executed on Pendle with various assets on their platform such as LSDs, stablecoins as well as GLP and gDAI on Arbitrum.


Users can get fixed yield by purchasing PT on Pendle. As PT’s final redeemable value is known, the yield is fixed at the time of purchase. This is especially useful during bull markets where users can secure a high fixed yield if they deem yields are unsustainable at that level.


Those with higher yield tolerance can purchase YT to long yields of the underlying asset. Since YT holders receive the yield from the underlying, purchasing YT is equivalent to buying the yield of the underlying. Similar to a spot trade, users buy YT if they think that the underlying will generate more yield than what they paid for. A right trade with this strategy can significanly amplify the yield of the underlying as seen in [this twitter thread](https://twitter.com/gabavineb/status/1633486627363504132).


Users that are not looking to understand the intricacies of yield trading can simply provide liquidity on Pendle to earn more yields on top of the underlying. The liquidity provided on Pendle flows down to the protocols that they support, deepening liquidity for all of the ecosystem that they’re built on top of. In Ankr’s case, the ankrETH liquidity on Pendle flows down to Aura and Balancer, deepening the ankrETH liquidity to enable a better trading experience for our users.


Overall, with yield-tokenization and yield-trading, Pendle gives users more control over their own yields. Same asset, multiple yield strategies.


# Ankr and Pendle


Ankr is creating a pool with Pendle for the ankrETH/ETH Aura LP which will provide more exposure to Ethereum staking yield and will increase the APY on Ankr’s [liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) ETH (ankrETH).


This will allow users to perform a variety of different things with their ankrETH, from buying ankrETH/ETH Aura LP with a discount, obtain fixed-yield, long the yield of ankrETH/ETH for potential outsized yield, or earn simply earn extra yield by providing liquidity.


# Conclusion


In conclusion, the Ankr and Pendle partnership offers exciting opportunities for users to earn higher yields on their assets. Pendle opens up more utility for ankrETH, allowing users to have more control of their asset while simultaneously deepening ankrETH’s liquidity.  While there are risks associated with using any DeFi protocol, the benefits provided by Pendle may outweigh the risks for those willing to take on the smart contract risk. The liquidity pool created by Ankr and Pendle will provide more exposure to Ethereum staking yield and increase the APY on Ankr's liquid staking ETH (ankrETH). Overall, this partnership is a step towards creating a more accessible and efficient DeFi ecosystem.


# Join the Conversation on Ankr’s Channels!


[Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](http://discord.ankr.com/) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)

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Introducing Ankr's Partnership with Pendle Finance

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In this article, we will explore how [liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) works and how it can significantly multiply TVL in DeFi protocols. We will also discuss the benefits of liquid staking, including increased flexibility and liquidity for investors, increased security for PoS networks, and increased efficiency of DeFi protocols.


# Protocol’s Using LSDs in Their Reserves


DeFi protocols have traditionally relied on using assets like ETH or MATIC to provide liquidity to their users. However, the emergence of liquid staking tokens has opened up new possibilities for DeFi protocols to become more capital efficient. Liquid staking tokens can be used as collateral to generate liquidity, which can then be used to fund loans, provide liquidity to liquidity pools, and facilitate other DeFi activities.


One of the primary benefits of using liquid staking tokens in DeFi protocols is that they provide a higher degree of capital efficiency. Staked tokens can be used to generate liquidity without the need for additional collateral, which can reduce the amount of capital required to participate in DeFi activities. This increased capital efficiency can help to drive down transaction costs and increase the accessibility of DeFi protocols, making them more attractive to a wider range of users.


As more investors participate in liquid staking, the amount of staked tokens available for liquidity provision will increase, leading to greater liquidity and more opportunities for users to participate in DeFi activities. This increased liquidity can help to drive down transaction costs and increase the efficiency of DeFi protocols, making them more accessible to a wider range of users.


# Using LSDs in Liquidity Pools


One of the key benefits of using liquid staking in liquidity pools is the potential for increased rewards over time. As the TVL in the pool grows, so too does the value of the staked tokens. This means that investors who participate in liquid staking can potentially earn both staking rewards and a share of the fees generated by the liquidity pool. As more users participate in the pool, the value of the staked tokens will continue to increase, potentially leading to even greater rewards for participants. This creates a positive feedback loop where increased liquidity leads to increased rewards, which in turn attracts even more liquidity to the pool.


# Liquid Staking Network Effects


The ability to provide liquidity to DeFi protocols while staking tokens has the potential to significantly increase the TVL in these protocols. As more investors participate in liquid staking, the amount of staked tokens available for liquidity provision will increase, leading to greater liquidity and more opportunities for users to participate in DeFi activities. This increased liquidity can help to drive down transaction costs and increase the efficiency of DeFi protocols, making them more accessible to a wider range of users.


Moreover, liquid staking can help to increase the security of PoS networks. By increasing the number of staked tokens, liquid staking can help to further decentralize PoS networks and make them more resistant to attacks. This increased security can help to attract more users to these networks, further increasing the TVL in DeFi protocols.


# Conclusion


In conclusion, liquid staking is a revolutionary technology that has the potential to significantly increase the TVL in DeFi protocols. By allowing investors to earn rewards from both staking and liquidity provision, liquid staking can increase the potential returns for investors, while also increasing the liquidity and efficiency of DeFi protocols. As more investors participate in liquid staking, the benefits of this technology will become even more pronounced, leading to a brighter future for DeFi and the cryptocurrency industry as a whole.


# Join the Conversation On Ankr’s Channels


[Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](http://discord.ankr.com/) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)


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Liquid Staking as a TVL Multiplier

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Ankr is at the forefront of this revolution with its AnkrETH v3 liquid staking offering, aiming to be the most liquid and decentralized solution in the market. We’re consistently working to become a more trustless, transparent, and decentralized Ethereum liquid staking node operation. It allows external nodes to participate, with Ankr stakers voting on which pools the ETH gets delegated to.


This approach creates an open architecture that provides a democratic and decentralized solution. Ankr is starting by creating the Ethereum Validator Hub, an open marketplace for nodes that meet certain criteria that will eventually be utilized as nodes in our liquid staking offering.


That being said, Ankr's primary goal is to increase liquidity for its liquid staking offering, which is a significant challenge, but achievable. Creating an open and decentralized architecture that allows external nodes to participate in the operation increases node diversity, plus our restaking service and the transition to omnichain will improve the liquidity on secondary exchanges in the market.


In this article, we’ll be diving into all of the revolutionary improvements that ankrETH v3 liquid staking will be bringing to the market and how this will impact the future of the market.


# What is DVT?


Ankr's Decentralized Validator Technology (DVT) is a critical component of its liquid staking offering, allowing users to share the key amount among several people, reducing the risk of slashing. This innovative approach to staking provides an additional layer of security that is not available in traditional staking solutions.


Ankr recently announced partnerships with Obol and SSV, which strengthens its liquid staking offering. The Obol and SSV partnerships mitigate an array of risk factors associated with slashing. Specifically, they’ve created technology that shares the keys with several people while keeping the keys private and ensuring that no more than one validator can ever be online at any given time.


Overall, this [increases the trustlessness](https://medium.com/ankr-network/trustless-liquid-staking-removing-intermediary-risk-with-ssv-technology-3f6a71c6b4a6) of Ankr liquid staking by removing Ankr as the primary intermediary of funds and makes the entire process more permissionless.


# Overall Improvements


## Higher Node Diversity


AnkrETH v3 liquid staking is so innovative due to its open and decentralized architecture that allows external nodes to participate in the staking operation. This approach creates a more democratic and decentralized solution that is not reliant on a central authority to operate. By allowing external nodes to participate, Ankr can achieve higher node diversity, which ultimately leads to a more liquid market.


## Higher Yield with Restaking


The restaking feature in AnkrETH v3 allows users to automatically reinvest their staking rewards into the same staking pool. This means that users don't have to manually withdraw their rewards and then restake them, which can be time-consuming and sometimes lead to lost rewards due to slippage or other factors.


By enabling automatic restaking, AnkrETH v3 incentivizes users to keep their assets staked for longer periods of time, which increases the overall yield they receive from staking. This is particularly important in the world of cryptocurrency, where volatility is high and prices can fluctuate rapidly.


The increased yield from restaking rewards can make the offering more attractive to users, particularly those who are looking for passive income streams or who want to maximize their returns from their staked assets. Additionally, by making the staking process more automated and user-friendly, AnkrETH v3 lowers the barrier to entry for new users who might be hesitant to stake their assets due to a lack of technical knowledge or experience.


## Transitioning to Full Omnichain


Ankr is on the road to creating an omnichain liquid staking solution, which will allow for seamless staking across multiple blockchains. This is made possible in part by Ankr's dedicated bridge for liquid staking, which reduces the risk of transferring assets between chains and provides a more secure and efficient way to stake. This solution will offer greater flexibility and accessibility for users, while also ensuring the highest level of security and reliability.


## The Most Liquid Liquid Staking


We’ve been hard at work developing the most liquid version of liquid staking tokens. What we mean by this is that we’re enabling *near instantaneous unstaking* through our flash unstaking feature.


Traditional Unstaking, which typically involves a 7-10 day unbonding period, is lengthy and time-consuming. Meanwhile, it leaves your tokens stuck in the unbonding process and completely inaccessible (aka illiquid). With Flash Ustaking, users can initiate the unstaking process and see the original tokens appear in their wallet within seconds.


This feature has been rolled out for ankrBNB currently, keep an eye out for updates on implementation to other chains. Ethereum hasn’t yet enabled users to unstake their Ethereum so this feature is currently unavailable for ankrETH.


# Conclusion


In conclusion, Ankr is leading the liquid staking industry with its AnkrETH v3 offering. Its focus on an open and decentralized architecture, higher node diversity, restaking features, and partnerships with Obol and SSV all contribute to making it the most liquid and decentralized liquid staking solution in the market. Additionally, its commitment to becoming an omnichain liquid staking solution and the introduction of Flash Unstaking reinforce its dedication to innovation and creating a more accessible and secure staking ecosystem. Stay ahead of the game in the evolving blockchain ecosystem with Ankr's AnkrETH v3.

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The Future of Liquid Staking: AnkrETH v3

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Ankr is launching new features for liquid staking users that will ultimately increase the security of our liquid staking service and provide more functionality and transparency for users. In this article we’ll discuss the three new services: an open marketplace, slashing protection pools, and restaking to support greater decentralization and node operator diversity in our liquid staking services.


# Open Marketplace


The first feature we’re launching is an open marketplace that will act as a transparent way for users to choose which nodes they want to delegate their assets to. Currently, we’re starting this marketplace with Ethereum and will expand to other networks soon. This marketplace will provide users with greater flexibility and control over their assets, allowing them to choose the nodes that fit their specific risk assessments and APY goals. Effectively, this service is offering a delegate stake experience to ETH stakers.


# Slashing Protection Pools


As you may know, slashing is widely considered to be the most significant risk associated with [liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) in Proof of Stake blockchains. When a validator node fails to fulfill its responsibilities, such as failing to properly validate transactions or participating in malicious activities, the node will be penalized and staked assets will be forever lost. Given the significant financial risks associated with slashing, it is critical that users take steps to mitigate this risk and protect their investments.


Furthermore, Ethereum doesn’t natively support delegate staking like many other proof-of-stake networks do. However, Ethereum stakers can delegate the validator key to a node operator, and keep the withdrawal key. However, a malicious operator could not return a validator key and incur slashing for their "clients" who delegate the validator keys to them. If the validator key is not returned, the funds cannot be unstaked and it results in a bad situation for everyone involved.


For this reason, node operators are expected to have a slashing pool to provide slashing protection to "delegate stakers". Anyone will be able to deposit any token the node operator deems appropriate in a slashing pool, and share its node operator fee with slashing pool stakers.


Ultimately, the decision to have a slashing pool or not belongs to the node operator and the decision to delegate ETH validation keys to a node operator with or without a slashing pool is up to delegate stakers. Therefore, we at Ankr have built a service that provides the underlying infrastructure to support the ETH Validator Hub, which includes: onboarding new node operators and making sure the marketplace is fully transparent for all parties involved.


# Restaking


Finally, Ankr is now enabling users the opportunity to stake ankrETH directly, further compounding liquid staking rewards. This means that users can delegate their ankrETH tokens to slashing pools associated with individual node operators and receive rewards in ETH, which come from node operators fees to provide slashing coverage. In the case of ankrETH token deposit, ETH rewards will be automatically compounded. The process of restaking also provides overall security to the Ethereum network by staking ETH through ETH Liquid Staking (ankrETH).


This creates a compounding effect, as the rewards earned from staking are continually reinvested to generate even more rewards over time. This caters to users that don’t want to participate in complex and technical DeFi strategies, but are seeking higher yield. Restaking provides this easy and efficient way to earn more passive income through staking.


Al in all, restaking is fundamental to making on-chain slashing coverage more capital efficient for node operators. It supports slashing coverage because node operators are now required to share a lower portion of their operator fees since slashing pool stakers are receiving additional restaking rewards on top of the ETH staking APY.


# Conclusion


All in all, Ankr is launching three new features for liquid staking users aimed at improving platform security, functionality, and transparency. The open marketplace offers flexibility and control, enabling users to choose nodes for their assets depending on risk and APY. Slashing protection pools mitigate risk, reimbursing users if nodes get slashed, while the restaking feature provides a simple way to earn passive income through staking.


We’re continuing to commit to innovation because we at Ankr believe that liquid staking can become a pillar of secure and reliable yield in the DeFi ecosystem.


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Ankr Announces ETH Validator Hub

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Staking has become a popular way for cryptocurrency holders to earn rewards by holding and participating in the network security of a blockchain. Ankr has been on the forefront of this innovation for years. While [liquid staking](https://www.ankr.com/staking-crypto/) offers a number of advantages, it also comes with a set of risks that investors should be aware of before making any decisions.

In order to assist you in doing your due diligence we’re providing complete transparency on the various risks of liquid staking. Recognize that all liquid staking solutions share these risks and your job as a user is to determine which protocol you feel minimizes these risks the best.

In this article, we will discuss the risks associated with liquid staking and what you need to know to make informed decisions regarding your liquid staked assets.

## Security Risks

The most significant risk associated with liquid staking is security. When assets are staked, they are typically locked away in a smart contract or other secure environment, where they cannot be easily stolen or misused.

Depending on which liquid staking provider you choose there are risks that the smart contracts that hold the original unstaked assets will have bugs which makes them susceptible to hacking or other forms of cyber attack.

When liquid staking, always keep in mind that your original assets are in the hands of a third party, which always adds a level of counterparty risk.

At Ankr, our smart contracts have been audited by several firms that can be found on our [documentation](https://www.ankr.com/docs/staking/extra/audit-reports/).

## Low Liquidity & De-Pegging

Another risk associated with liquid staking is low liquidity risk. A beneficial feature of liquid staking tokens is that you can swap them for their base asset counterpart instantly in DEXs without having to wait for the lengthy unbonding period that comes with staked assets. That being said, if the TVL in the liquidity pools runs dry then the token can lose it’s peg which also causes a high slippage when trying to swap between the assets.

One of the ways that liquid staking tokens hold their peg is because of arbitrage mechanisms in DEXs. Therefore if the TVL in the liquidity pools drops dramatically this could alter the arbitrage incentives and spiral into a situation where the token doesn’t hold its peg.

This could result in investors being unable to sell their staked assets when they need to, potentially leading to significant losses. However, this is only a major issue for Ethereum Liquid Staking as the ETH is not redeemable yet. On other chains, arbitrageurs can buy the discounted tokens in liquidity pools and unstake them for full price, making a premium.

## Hacks

Another huge risk of liquid staking tokens is that the smart contract would get hacked and the assets held as collateral would be stolen. For example, let’s say you mint liquid staked ETH from a protocol. When you provide your ETH they will hold it in a smart contract and mint an equal amount of liquid staked ETH. The risk here is that if the protocol got hacked then your original ETH could be stolen.

## Validator Slashing & Counterparty Risk

Liquid staking providers are responsible for maintaining the infrastructure and technology that supports the staking process. If there are any operational issues, such as system downtime, network outages, or other technical problems, the staked assets could be at risk.

More specifically, the assets that you provide to the liquid staking protocol have to be staked with validators. If the protocol chooses untrustworthy validators then the staked assets could get slashed. Therefore, you should carefully consider the operational risks associated with liquid staking and only invest with trusted and reputable providers.

## Conclusion

[Liquid staking](https://www.ankr.com/blog/liquid-staking-TVL-multiplier/) has become a popular way for investors to earn rewards while also having access to their staked assets. However, it is important to be aware of the risks associated with this form of staking. Security risks, de-pegging, hacks and slashing (to name a few) are all potential challenges that you should consider before making any decisions.

In short, you should thoroughly research any liquid staking provider that you are considering and only invest your valuable money with trusted and reputable liquid staking providers. Additionally, you should be prepared to closely monitor their investments and take action as needed to minimize risk exposure.

In conclusion, liquid staking can offer a number of advantages, but you should be aware of the risks and make informed decisions to ensure the safety of their assets.

Dive into the world of Liquid Staking. Understand its risks and make informed decisions in the crypto space. Everything you need to know.

Liquid Staking Risks: Everything you need to know in 2024

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Liquid Staking: Understanding the Risks

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Although staking is seen as one of the most reliable ways to earn yield in crypto, the unstaking process is by far the most robust and costly process. Flash unstaking is a disruptive innovation that unlocks capital efficiency for your liquid staked assets.

# What is a Flash Pool and how does it make use of ankrBNB?

The structure of the Flash Unstake Pool includes two main tokens - BNB and ankrBNB - to support instant redeemability against Ankr’s ankrBNB token to reduce liquidity risk while finding alternatives for ankrBNB Decentralized Exchange Liquidity Pools.

Flash Pools are the next step in Ankr’s vision for supporting liquidity for our Liquid Staking tokens in a sustainable way. The first pool is geared towards reward-bearing ankrBNB and BNB tokens that we hope will further reduce ankrBNB’s liquidity risk and token price volatility.

The core of the Flash Unstake BNB pool will be to offer a fixed swap between ankrBNB and BNB matching the redemption price of ankrBNB with funds available immediately – something that was not possible before. The Pool will be further improved to accommodate dynamic fees and earn lending interest on BNB not used by Flash unstaked yet.

Starting with a fee of 0.5%, we are optimistic about lowering it in the future once the concept of the Flash Unstake pool has been fleshed out and the size of the pool has stabilized. For the time being, this fee is still pretty competitive when you factor in the lack of slippage and swap fees usually present on DEXs. Whenever there is a price discrepancy between two Decentralized Exchanges (DEX), flash loans can help borrowers magnify their profits by seizing a successful arbitrage opportunity.

Adding flash loans to the equation opens another avenue for users to engage with the pool and for Ankr to earn from the applied fee. For example, if users have borrowed BNB, they can swap their collateral from BNB to Ankr’s reward-bearing ankrBNB token.

# Advantages of Flash Unstaking

First let’s get clear on how the traditional unstaking process work with Ankr’s liquid staked tokens. As with any type of staking there is an unbonding period. In the traditional unstaking process your liquid staked tokens are burned and the original asset is unstaked which requires an unbonding period of a few days to over a month.

In contrast, flash unstaking doesn’t involve unbonding periods because it utilizes the advantages of having the liquid staked token and the original asset in a liquidity pool. With flash unstaking your liquid staked tokens are exchanged for the original asset. Then, the original asset then instantly shows back up in your wallet.

# The Risks of Traditional Unstaking

The biggest downsides of traditional unstaking is that the unbonding period you have to wait is also the amount of time that your missing out on other opportunities in the DeFi ecosystem that you would have if your assets were liquid. This means that you miss opportunity cost when your assets are locked.

Furthermore, when your assets are locked you have no control over your assets. Which, given the volatile nature of the crypto market, means that you could potentially lose quite a bit of money if the token decreases radically in price.

# Unpacking the Utility

Flash unstaking takes the staking process one step closer to a fail-proof crypto savings around. Now you can both stake your assets immediately with liquid staking capabilities and unstake them immediately with flash unstaking. Thus, you can compound your earnings through the power of staking and you can have your original assets back in a moments notice.

# Conclusion

That being said, flash unstaking is an exciting new addition to the Ankr repertoire of services. With flash unstaking you can now circumvent all the downsides of lengthy unbonding periods for the low cost of a 0.5% fee. BNB is the first token that we’re enabling this feature on – stay tuned!

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Traditional vs. Flash Unstaking: Understanding the Difference

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We at Ankr have some exciting updates to announce to you this week.

# BNB Flash Unstaking

Ankr has officially released the capability to flash unstake your ankrBNB. As opposed to regular BNB unstaking where unbonding periods range anywhere from 7-10 days – flash unstaking is instant.

With flash unstaking all you have to do is trigger the unstake and see the original tokens appear in your wallet in a matter of seconds.

# Minimum ETH Removed for ETH Staking

We at Ankr are excited to announce that we’ve removed the minimum ETH staking amount for our Ethereum liquid staking service. Previously, we required all users to stake a minimum of 0.5 ETH through our staking dashboard, but due to the rising prices of ETH and the large cost of entrance we’ve removed this minimum, allowing you to stake any amount of Ethereum that you’d like.

This decreases the barrier to entry and enables all types of investors to break into the[ liquid staking](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) space, large or small.

# SUI Validator Live on Testnet

We have updated our SUI testnet validator to a more secure option. With the SUI connection to Ankr’s RPC node you can build your dApp on the SUI blockchain, fully testing it out and implementing everything you’d like to build through the Ankr RPC interface.

Ankr’s SUI RPC endpoint allows you to directly receive all kinds of information directly from the SUI chain like: NFT ownership information, the balance of your user’s wallet, and many more types of transaction information.

# Bug Bounty Program on Immunify extended to MATIC Liquid Staking

Ankr liquid staking is becoming more secure! Our bug bounty program on Immunify now includes MATIC liquid staking, so you can rest assured that there’s a team of developers incentivized to make sure that your Ankr liquid stake MATIC is free of bugs.

If you want to learn more about this bug bounty program then you can head on over to [https://immunefi.com/bounty/ankr/](https://immunefi.com/bounty/ankr/).

# Conclusion

All in all, we have a ton of new updates happening in the Ankr community and you can rest assured that we’re innovating on our way to innovating. Whether you’re a developer or DeFi nerd we have the services for you.

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Ankr Announces BNB Flash Unstaking, SUI Testnet, and More!

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# Ankr Launches new Midas pool for ankrBNB on Binance Chain

The new Midas pool for ankrBNB is now live, marking the next stage of BNB Liquid Staking with Ankr. Binance Chain is the fastest-growing blockchain and we’re excited to spearhead the addition of liquidity to BNB with the help of Midas – a cross-chain money market solution that brings isolated and customizable money markets to EVM-compatible blockchains.

By teaming up with Midas we can incentivize the pool to source the initial liquidity for ankrBNB – the liquid staking token users who stake BNB receive against their holdings.

## Why did we choose to Partner with Midas?

The BNB/ankrBNB Midas pool will allow users to provide liquidity across multiple liquidity sources (centralized and decentralized) for the best price every time. We’re essentially indexing the BNB Staking Reward to the Borrowing interest on the Midas Ankr Isolated pool to increase LP APY.

This is one way to curb the large spread of BNB borrowing interest vs. lending interest. But why is it necessary to do so?

Lending platforms charge high fees and come with a high reserve percentage but a low utilization rate. The borrowed amount is divided by the supplied amount and the low collateral ratio of other assets in the shared pool results in a conservative utilization rate.

These parameters are not designed for isolated pools composed of liquid staking and the underlying asset. Novel cross-chain market makers like Midas Capital allow more freedom in customizing the pool to adapt to the needs of the liquid staking tokens and associated assets.

By teaming up with Midas, we can trigger a convergence between the BNB lending APY and BNB staking APY to maximize returns. The goal is to achieve the best of both worlds – a relatively high APY and low implementation loss (IL). The Annual Percentage Yield, or APY, is the rate of return on an investment after compounding interest is taken into account. It takes into account the interest you earn on that payout. You will not receive any additional interest on the interest because it has already been factored into the APY.

## How do Midas Isolated Pools Work vs. Single Cross-Collateral Pools

The Midas Protocol eliminates the need to lobby for money market protocols such as Compound Finance or Aave. Given the potential risk to the rest of the pool, newer tokens in the ecosystem have a very low chance of being listed on these large money markets.

Aave relies on a model that uses stable loans, which maintain their interest rate at the time of issuance until the rebalancing conditions are met. Aave's interest rate strategy is designed to manage liquidity risk while also optimizing utilization. Interest rate parameters can be adjusted as market conditions change.

With the rise of liquidity mining, Aave adapted its borrowing costs by lowering the Uoptimal (an indicator of capital availability in the pool) of the assets affected. This increased borrowing costs, which are now only partially offset by the liquidity reward, resulting in lower overall interest rates.

Midas, unlike Aave, employs isolated pools as opposed to the traditional single-cross collateral pools offered by major DeFi providers. Pools run in standalone environments with different parameters and supported assets under the isolated pool model. The isolated pool model adds an extra layer of security by isolating the risk(s) to only the single affected pool and not putting the entire TVL at risk. This allows users to participate in Midas with greater confidence.

Midas enables any DeFi project to create customized pools in which they have complete control over pool parameters such as supported assets, interest rate curves, oracles, collateral factors, and pool fees.

Pools with an isolated structure have several advantages over traditional pools.

First of all, isolated pools add an extra layer of security to users by ensuring that one pool is not affected by other pools in the protocol. Because all assets are not stored in a single pool, users do not need to be concerned about the protocol's overall risks and can instead concentrate on the pool in which they wish to invest.

Second, isolated pools provide users with a greater range of options. Because each pool may have different parameters, users can choose to invest in the pool based on their risk tolerance and asset selection. Pool creators can generally change parameters like supported assets, fee structure, collateral factor, and Loan to Value (LTV) liquidation factors.

Midas gives pool creators complete control over the creation and customization of their money markets on the platform. Each pool includes a number of parameters that can be changed before the pools are available for investment. Custom assets, custom oracles, platform fees, admin fees, liquidation incentives, close factors, collateral factors, and reserve factors are among the parameters.

Pools with custom parameters can have the same supported assets but different parameters and risk levels. As a result, Midas users will be able to select pools based on their assets and risk tolerance.

Let's consider the following two pool example: A and B. Both pools A and B accept USDT, ETH, and BTC. Pool A, on the other hand, has a 75% LTV ratio, whereas Pool B has a 33% LTV ratio. As a result, users in Pool A can borrow up to $75 in assets for every $100 deposited, whereas users in Pool B can only borrow $33 in assets for every $100 deposited. Because of this, pool A will be a higher-risk pool with potentially higher returns, whereas pool B will be suitable for investors seeking low-risk and low returns.

Finally, Midas makes use of the new ERC-4626 standard, which is a standard API for tokenized yield-bearing vaults. The standard reduces the effort required to integrate different protocols, and projects can seamlessly unlock access to yield in various applications.

# Unique Yield-Generating Opportunities With ERC-4626

Midas seamlessly integrates with multiple protocols across DeFi, using the ERC-4626 tokenized vault standard, to bring users unique yield-generating opportunities right in Midas pools. Users can collateralize a variety of LP tokens in the Midas pool to borrow BNB and increase their exposure to the LP tokens, or use that liquidity to participate in other DeFi strategies.

Ankr looks forward to supporting all the projects that will use the new BNB/ankrBNB Midas pool for their yield & liquidity needs.

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New Midas pool for ankrBNB 

If you are just beginning your journey into the world of Web3 development, you may have come across terms such as "RPC" and "API" and wondered what these words mean. Here is an explanation of what each of these terms signify, how they are related, and the differences between them. Additionally, you will get a better understanding of the role these concepts play in the Web3 development world. Let's begin!

# RPC vs. API

Let's start by examining what [Remote Procedure Call](https://www.ankr.com/remote-procedure-call/) (RPC) is. It is a protocol that allows one computer or program to communicate with another computer or program from a distance. In basic terms, it allows you to access a network.

The client must begin the process by sending a message to a remote server. Upon receiving the message, the server will respond, after which the client will resume its original process.

API stands for Application Programming Interface, which allows one computer or system to communicate with other computers or programs over a shared network. Once connected to the network, APIs make it possible for the devices to interact with each other.

It is common to hear people using the terms RPCs and APIs interchangeably, but they are different. APIs provide the basis for two machines to interact on a network, allowing for data to be passed between them. RPCs are the calls made between the two computers, where the API provides guidance on how to use the calls effectively.

The main difference between RPCs and APIs is that RPCs link you to a network while APIs allow you to interact with other machines on the network.

[![rpc-remote-rpocedure-call-cta.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/rpc_remote_rpocedure_call_cta_d60ee98bfa.png)](https://www.ankr.com/remote-procedure-call/)

# An Example of RPCs and APIs

An example can help to demonstrate the subtle difference between RPCs and APIs. RPCs connect to a network and APIs interact with other computers or programs on that network. Essentially, RPCs are local while APIs are communicative.

Let's take a look at another case. Suppose you sent your mom an email to ask her to make some cookies for you. This can be thought of as an RPC. You (the customer) sent a request for cookies to your mom (the server). Your mom does the necessary baking, and then sends you the cookies to fulfill your request.

If you choose to get a pizza and your mom doesn't have the ingredients, you must go to a pizzeria. Just like when you go to the pizzeria, you don't have access to the kitchen ingredients, but you can place an order. The menu provides the pizzas available for ordering along with the toppings and other options you can choose from. This is an example of an application programming interface (API).

An RPC is a specific request for information on the blockchain, whereas an API is like a framework for complex communication.

[![rpc-remote-rpocedure-call-cta.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/rpc_remote_rpocedure_call_cta_d60ee98bfa.png)](https://www.ankr.com/remote-procedure-call/)

# RPCs and APIs in Blockchain

In order to communicate with blockchain networks, Web3 developers need to use either Remote Procedure Calls (RPCs) or Application Programming Interfaces (APIs). These are tools that allow developers to remotely connect to existing [blockchain nodes](https://www.ankr.com/blog/what-are-rpc-nodes-and-endpoints-the-complete-guide-2023/), rather than having to set up and operate their own nodes.

In both Web2 and Web3 contexts, the relationship between RPCs and APIs remains similar, differing only in the underlying infrastructure. Specifically, RPCs provide the connectivity to a blockchain network, while APIs allow for interaction with other nodes on the network.

RPCs allow Web3 developers to communicate with distant blockchain nodes by sending data requests. As an example, Web3 wallets can utilize an RPC endpoint to request information from blockchain nodes.

RPCs can be used to query the blockchain for the information required to answer questions such as 'how many X tokens are in Y wallet?' and 'does this user have enough X tokens to cover the gas fee for this transaction?'.

If you need to write and read information to the blockchain, a full API that allows for the exchange of data between nodes in the network will be required. When you use a DEX to swap cryptocurrencies in your wallet, for example, you must write data to the blockchain with the updated balance. Additionally, APIs will be necessary if you're constructing a dApp which is constantly communicating with blockchain networks, not merely requesting data.

# Ankr’s RPCs and APIs

How does Ankr contribute to this process? Ankr provides the resources needed to construct the restaurant that makes cookies and pizza. It furnishes access to a global, decentralized, distributed network of separate node suppliers via Ankr Protocol. You can connect to Ankr Protocol either by Remote Procedure Call or Application Programming Interface.

Ankr Protocol offers public RPC endpoints which allow users to send and receive transactions directly from https://www.ankr.com/. These endpoints are available in the US and EU and are perfect for use with MetaMask. Simply plug these into your wallet and start sending and receiving transactions today.

If you're a developer or protocol looking for powerful API connectivity to power your project, Ankr offers a Premium Plan that includes unlimited requests with no rate limits. Ankr enables users to connect to blockchain nodes all over the world with the lowest latency possible. Learn about our premium plan at: [https://www.ankr.com/protocol/plan/](https://www.ankr.com/protocol/plan/)

[![rpc-remote-rpocedure-call-cta.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/rpc_remote_rpocedure_call_cta_d60ee98bfa.png)](https://www.ankr.com/remote-procedure-call/)

# Join the conversation on Ankr’s channels!

[Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](https://discord.gg/e4n8mAejGb) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)

Explore the differences between RPCs and APIs, their roles in Web3 development, and how they facilitate communication in blockchain networks.

RPCs and APIs: Key Differences and Their Role in Web3 Development

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What's the Difference Between RPCs and APIs?

Application-specific blockchains are exactly what they sound like: a blockchain network dedicated to one particular application. These application-specific blockchains act like child-chains that are attached to a mainchain, or parent-chain. With this configuration, the application-specific blockchain is able to have its own unique consensus mechanism, process its own transactions, and still inherit much of the security and provenance provided by its parent-chain. AppChains empower devs to reach their full potential by allowing them to build with frameworks they feel most comfortable with, and languages they prefer to utilize.

But which type of Web3 Applications are best suited to run on an AppChain? Let's take a look.

# DeFi Protocols & NFT Marketplaces

Even with the best developers in the world, there are minimal workarounds for the problem of slow transaction speeds. For DeFi protocols with large TVL liquidity pools and tons of swaps happening per second, low transaction speeds crank up the slippage, which isn’t good for user satisfaction. AppChains offer a solution to a DeFi protocol or NFT marketplace with high slippage percentages.

Furthermore, the user experience isn’t going to be as great when it takes 20-60 seconds to process each transaction because of mainnet blockage. If you’re looking to create any sort of NFT marketplace or DEX (aggregators, lending protocols or yield farming pools), then AppChains could be just the solution.

For example, the BOMB Chain is a custom-built AppChain developed by Ankr and the [BOMB Money](https://app.bomb.money/) team. With our AppChain technology Bomb money now has a Binance Application Sidechain with a cross-chain bridge to BSC and other networks. With this full suite of solutions, their protocol runs faster than ever, has a more intuitive user experience, and has full transparency and proof of assets on-chain. 


# Traditional Banks

We can imagine that traditional banking would find AppChains particularly useful. With AppChains, a bank could have its own independent blockchain specifically suited for its customers' needs.

If a fiat-only bank wanted to start handling digital and international transactions, they could accomplish this with the help of application chains. It would be fully auditable and work with regulation so that common citizens could rest assured that their money is FDIC-insured even though they’re transacting with crypto.

# Web3 Social Media Platform

Right now, there’s a ripe opportunity for a blockchain-based social media platform to take off and become the primary social platform of the future of the internet. There are numerous social dApps that have been built (like Mastodon and DeSo), but none have seen anywhere near the adoption of the mainstream platforms (Twitter, Instagram, TikTok, Facebook, and Youtube.)

A Web3 social media platform will need to handle an extraordinary amount of transactions if they are to store the requisite information on-chain. This will likely require a dedicated AppChain to keep transaction costs low enough and fast enough for a good user experience.

Mastodon and DeSo are both twitter-like platforms, but we haven’t yet seen a project take off that attempts to create a blockchain video/movie streaming service. Maybe this is what’s next, or perhaps something far better.

Imagine a social media platform where every image posted was stored as an NFT, and every creator had their own creator coin which accrued in value as they grew their page! All could be powered on a dedicated AppChain.

# A Blockchain-Based Insurance Company

Private AppChains enable countless use cases that weren’t available with solely transparent blockchains. For example, an insurance company could build its digital infrastructure on top of an AppChain and could handle all documentation and claims through NFTs, and could pay out all filings directly on-chain to the customer.

# Supply Chain & Logistics

With Ankr AppChains any company that is shipping physical products can use a custom-built blockchain to trace the history of a product from its point of origin to where it currently resides. 

For example, a grocery store that is receiving hundreds of thousands, if not millions of item purchases each day can more effectively track which items need to be restocked, which items have shipments on the way and where they are in the supply chain. On top of that, the AppChain can be used for customer-facing purposes as well. Let’s say that a customer has dietary restrictions or wants to ensure that the food they’re getting is of the highest quality. With an AppChain they could scan the food item and find a thorough breakdown of the origin location and each shipping route that the item took so that they can find the food that’s the most fresh and organic. 

With the Ankr Chainscanner block explorer provides a powerful google-like UI where you can copy an address/hash/block and get directed to the exact information you’re looking for. 

![supply_chain_a12d1dcc16.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/supply_chain_a12d1dcc16_846b55b9c8.png)

Rather than relying on a centralized database, like AWS, that has the potential to go down, your AppChain will be secured by a decentralized network of validators that all ensure the network remains secure and online. With this reliability and security your customers will have access to all the relevant supply chain information. 

# Decentralized Gaming

AppChains enable so many possibilities for the Web3 gaming industry that were previously off-limits due to high transaction costs and slow speed of transactions.

Appchains streamline the building experience for developers, which makes the user experience much better (the exact thing that is lacking in most Web3 games). Furthermore, the better the user experience gets for these the more non-technical users will be able to play Web3 games without needing to know how to interact with smart contracts with one’s wallet and cryptographic keys.

Let’s take a look at how this evolution happened for Web3 games. In the beginning of the internet there were computer games like Pong. These games were simple to play, but there was a high barrier to entry because you needed to know how to run an at-home computer which required too much technical knowledge back then.

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Similarly, setting up a private wallet and onboarding initial funds onto a blockchain is quite a technical process for the average internet user. This barrier to entry stops most people from enjoying the benefits that Web3 has to offer, but with AppChains, games can build a good enough user experience that this barrier to entry is decreased.

People can play Web3 games just like they play all of their Web2 games, because Ankr enables seamless wallet and staking integrations as well as streamlined building on top of the AppChain.

On top of that, AppChains enable low or even zero gas fees which means that more click-actions in the game can be stored on-chain, fully utilizing the innovation that blockchains truly offer.

![gaming_2_meta_apes_bbb4dcbefd.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/gaming_2_meta_apes_bbb4dcbefd_2e729ac808.png)

With AppChain gaming, users can own NFTs of their characters which they can trade for other traders or even sell for actual crypto.

# Permissioned AppChains Governments / CBDCs

AppChains could be created for governments to run fully private blockchains to increase the efficiency of their digital operations.

Many governments around the world have already started building central bank digital currencies (CBDCs) so that they could control the circulation and supply and operation of their national currency Japan is leading the way in government-issued digital currencies with many countries following suit.

There’s a prime opportunity here for governments to begin using permissioned AppChains as a way of warranting official government documents to its citizens like driver’s licenses, passports and state IDs.

This makes it possible to privately integrate Web2 enterprises with the blockchain space — while maintaining identity verification standards. With robust identification security measures, banks, governments, and CBDCs can all become potential AppChain users.

This may even legitimize blockchains as a reliable technology for the broader population.

![CBDC_side_chain_f05f7029cd.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/CBDC_side_chain_f05f7029cd_ef0a553bb8.png)


# Chainscanner

Ankr’s chainscanner tool provides all the insights that one needs when it comes to managing and interacting with an AppChain. It provides everything from transaction/block data (think Etherscan / Bscscan), as well as token information, staking/unstaking capabilities and much more.

![chainscanner_1_fa09689380.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/chainscanner_1_fa09689380_037f9136e2.png)

The chainscanner provides key features for anyone that is playing a Web3 game using an AppChain or interacting with a DeFi protocol can gain access to the block insights by going to the chainscanner dashboard on the ankr website and choosing the specific AppChain that the dApp is utilizing.

# Conclusion

As we can see, there are numerous different use cases of AppChains and we’re only covering the tip of the iceberg. With AppChains the scope of what can be built is broadened and we’ll likely see more institutional use cases that handle larger amounts of transactions in a more seamless way.

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What Are The Best Use Cases for AppChains?

Fantom uses a DAG(Directed Acyclic Graph), which is different from how most other layer 1s work. This makes the transactions lightning fast. So fast that it can handle around 25,000 transactions per second. More than other layer 1’s like Ethereum by a factor of 40.

Fantom’s mainnet is called Opera and is a layer 1 blockchain. On top of that, Fantom is an EVM compatible blockchain meaning that all of the dApps on Ethereum can easily be ported over to Fantom without much hassle.

Currently there are roughly 50 validators in the fantom ecosystem because of the high cost of entry to set up a node.

# How Does Fantom’s Consensus Mechanism Work?

Fantom’s runs on a DAG-based asynchronous Byzantine fault tolerance (aBFT) algorithm which is called Lachesis. Quite the mouthful. Besides the complicated name, what you need to know is that Lachesis is a more efficient, scalable and secure alternative to major Layer 1s for developers to avoid having to build their own network layer.

The selling point is Fantom’s ability to process transactions at a lightning fast speed. Where Fantom lacks in security, it makes up for in scalability.

Furthermore, when conceptualizing Fantom we can think of it like an amalgamation of blockchains all connected to each other and governed by a broader Fantom umbrella. In fact, each application built on Fantom gets its own independent blockchain with it’s separate governance and tokens.

Each decentralized blockchain that makes up Fantom interact with each of the other blockchains while working independently in their own zones.

# Fantom Governance

The governance mechanism on the Fantom network is quite different from other networks. Whereas other networks use decentralized voting in traditional DAO fashion, Fantom let’s you vote on a scale of 1-4 on each network proposal.

This adds an increased level of participation in the network that could be beneficial for the space writ large.

# Tokenomics

The tokenomics of Fantom is quite simple. Basically, it was built as an inflationary token which just means that more tokens will be minted over time. Although right now they’ve locked 500M on top of the 2.6B tokens in circulation in order to secure the network by paying stakers with block validation rewards.

# What Makes Fantom Different?

Fantom is different from other blockchains in that it allows users to create and deploy their own independent networks that communicate with the Fantom mainnet. Whereas on other Layer 1’s like Ethereum all of the transactions happen on the mainnet, Fantom separates transactions into separate blockchains that all communicate with the Opera mainnet.

This had made Fantom appealing to countless developers, and we’re seeing more and more dApps being build on the Fantom network each and every day.

# Building dApps on the Fantom Network

With Ankr’s Fantom RPC you can easily bring your Web3 project to life. With any data that you’d need from the FTM blockchain is at your fingertips. There's never been an easier time to build your own applications with Fantom.

# No Need to Set Up FTM Nodes

Ankr’s Fantom RPC removes the need to set up your own Fantom node as they can now communicate with the chain using Ankr’s endpoints. This eliminates hours of time setting up and fixing node issues.

We know how technical and confusing it can be to set up a node on any blockchain. As a result, we are driven to make it easy for developers to build on top of their favorite blockchains.

# Easily Retrieve Data from the Fantom Blockchain

With the Fantom RPC endpoint you can query any type of data with instantaneous speed.

Let’s say that you wanted to build a weather app. Building the frontend user interface is the easy part, you just need some html and CSS to make it look nice. Yet without a weather data websocket updated in real-time you’d have nothing.

Similarly, if you want to launch a DeFi protocol on Fantom you’re going to need to retrieve the live coin-price feeds, total volume of transactions, and other real-time token metrics. This is where Ankr’s Fantom RPC endpoint comes into play.

![Fantom_Ankr_RPC_768c56cc6b.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/Fantom_Ankr_RPC_768c56cc6b_8321684488.png)



With Ankr’s RPC service it’s as simple as adding our endpoint link into your solidity code and you’re off to the races!

![VS_Fantom_RPC_86303fdff3.png](https://s3-frontend-strapi.s3.us-west-1.amazonaws.com/VS_Fantom_RPC_86303fdff3_ae8455de86.png)

# Conclusion

Overall, we’ve seen that Fantom is a revolutionary blockchain with an innovative approach to solving the blockchain trilemma. Fantom’s strengths lie in its speed and scalability.

Ankr’s RPC endpoint makes it easy to build dApps on top of Fantom. Whatever vision you have, we’re here to connect you to the blockchain.

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Everything You Need to Know About Fantom as a Developer

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The concept of "ultrasound money" within the Ethereum community not only showcases the blend of technology and meme culture but also represents a pivotal shift in how value and scarcity are perceived in the blockchain ecosystem. This comprehensive exploration aims to dissect the multifaceted narrative of Ethereum's evolution into what many enthusiasts refer to as "ultrasound money," emphasizing its implications for staking enthusiasts and the broader crypto market.

## What is Ethereum Ultrasound Money
Ultrasound money is a term that has surged in popularity within the Ethereum community, symbolizing a new era for the blockchain's economy post the [ETH merge](https://www.ankr.com/blog/the-ethereum-merge-everything-you-must-know/). Unlike traditional or even digital money, ultrasound money embodies the principles of absolute scarcity, deflationary mechanisms, and robust security, all thanks to Ethereum's transition to proof-of-stake (PoS) and the introduction of mechanisms like ETH burn. This evolution positions Ethereum as not just a platform for dApps and smart contracts but as a foundational layer for a new kind of money, one that aims to be more sound than even "sound money" like Bitcoin.

Basically, Ethereum Ultrasound Money refers to the concept of Ethereum achieving the status of sound money, a term popularized by the cryptocurrency community to describe a form of currency that holds its value over time, is resistant to manipulation, and serves as a reliable store of wealth. The term "ultrasound" emphasizes the idea of Ethereum continually striving to maintain a sound monetary policy.

## What is the Origin of the MEME Ultrasound Money?
The MEME "ultrasound money" began circulating within the Ethereum community as a playful but pointed critique of Bitcoin's designation as "sound money." The term gained traction, especially around the discussions of the ETH merge, highlighting Ethereum's potential to surpass Bitcoin's economic assurances by reducing its issuance rate and introducing a burn mechanism via EIP-1559. This burn mechanism, colloquially known as "watch the burn," systematically destroys a portion of the ETH gas fees, potentially leading to a net reduction in Ethereum's supply over time—hence, the ultrasound.

## Understanding the Ethereum Ultrasound Money Narrative
The narrative of Ethereum as ultrasound money is deeply intertwined with its economic and technological [upgrades](https://www.ankr.com/blog/what-does-ethereums-shanghai-upgrade-mean/), particularly the ETH merge and EIP-1559. These developments not only improve Ethereum's [scalability ](https://www.ankr.com/blog/application-specific-blockchains-more-flexibility-scalability-for-web3-development/) and efficiency but also its monetary policy. The ultrasound money narrative is compelling for staking enthusiasts and investors, as it promises a blockchain that's not just a platform for applications but also a robust store of value that can rival, if not surpass, traditional sound money principles.

## How Ethereum Aims to Achieve Ultrasound Money Properties
Ethereum's journey towards becoming ultrasound money is paved with significant upgrades like the transition to PoS and the implementation of fee-burning mechanisms. By significantly reducing energy consumption through the ETH merge, Ethereum becomes more sustainable and scalable. Simultaneously, the ETH burn mechanism introduced in EIP-1559 makes Ethereum's supply deflationary under certain network conditions. These steps are critical in achieving the properties of ultrasound money: scarcity, security, and sustainability.

- **Scarcity and Predictability:** From Ethereum's perspective, achieving Ultrasound Money status involves promoting scarcity, predictability, and decentralization within its ecosystem.
- **Alignment with Sound Money Principles:** Ethereum seeks to align its protocol, governance, and economic incentives with the principles of sound money to enhance its credibility and utility as a digital currency.


### A glimpse of tokenomics
The tokenomics of Ethereum, especially post-merge, focuses on creating a deflationary pressure on the supply of ether. This is achieved through the combination of reduced block rewards for validators and the burning of a portion of transaction fees. This deflationary model is a key aspect of what makes Ethereum ultrasound money, as it introduces a novel economic model that could theoretically lead to a decrease in total supply over time, assuming the network's use and the amount of ETH burned outpace the issuance.

### An overview of crypto supply
In the broader context of crypto supply, Ethereum's approach to managing its supply is groundbreaking. Most cryptocurrencies have a predetermined issuance schedule, but Ethereum's move to burn transaction fees introduces a dynamic mechanism that adjusts supply based on network activity. This is in stark contrast to cryptocurrencies with fixed supply caps or linear issuance, positioning Ethereum uniquely in the crypto supply discussion.

### The Tokenomics of Minting and Burning
Minting and burning are two sides of the cryptocurrency supply coin. While minting introduces new tokens into circulation, burning removes tokens permanently from the supply. Ethereum's economic model now incorporates both, with new ether being minted as rewards for validators and a portion of transaction fees being burned. This dual approach balances the need for incentivizing network security with the desire to create a deflationary supply dynamic.

Let's return to Economics 101 to help us better understand Ultrasound money.

The basics of supply and demand tell us that when supply decreases, value increases, and vice versa. Simply put, the more rare an asset is, the more it will cost. Furthermore, since the supply of gold is steady and demand for it increases over time it’s value should always increase.
Fast forward to the wild west of tokenomics, and we’re willy-nilly manipulation of supply and demand. We're minting tokens out of thin air, and the value of each token is volatile as a result.


## Ethereum's Issuance, Burn Rate, and Supply Economics
In order to fully understand Ultrasound Money we need to touch on issuance and burn rates. Issuance and burning are quite simple concepts. Issuance refers to the amount of a token that are minted, while burn refers to the amount that is taken out of the total supply. Based on supply and demand logic, it’s better for a token to have a higher burn rate than issuance rate so that the value of the token increases with time.


Now you may be asking what the point of minting Ether out of thin air may be. Why is it something that blockchains do in the first place? Wouldn't this dilute the supply and decrease the price of Ethereum? The answer is pretty simple. Validating transactions is at the core of blockchain's innovation. With Proof of Work, miners are rewarded with Ethereum every time they complete a complex algorithm to secure the block. This reward comes from Issuance. In short, the supply is diluted to a minuscule level to ensure the security of the blockchain.

Post merge Ethereum’s burn rate will surpass its issuance rate. This decreasing supply of Ethereum over time is made possible because staking validator rewards aren’t as expensive for the network as PoW mining rewards. Thus, the amount issued (think issuance) to validators is lower than the amount Ethereum is burning.

As it currently stands with Ethereum's Proof of Work consensus mechanism, the issuance rate is roughly 13,500ETH/day. In other words, Ethereum's security mechanism rewarded validators with a fraction of the 13,500ETH minted out of thin air daily in exchange for their contribution to the network.

Since the merge, the Issuance rate has decreased to 1,600ETH/day, which is an 8x reduction in Issuance. Triple Halvening refers to this 8x reduction because if you cut 13,500 in half three times, you get the new PoS Issuance rate.

On top of that, the burn rate for PoS will be ~5,000ETH/day, meaning that the total supply of Ether in the market will decrease by roughly 3,500 ETH/day.=

## What is the Ethereum perspective to become ultrasound money?
From the Ethereum perspective, becoming Ultrasound Money entails implementing mechanisms that promote scarcity, predictability, and decentralization. This involves optimizing Ethereum's protocol, governance, and economic incentives to align with the principles of sound money.

## What is a sound money?
Sound money refers to a form of currency that maintains its value over time, possesses intrinsic qualities like scarcity and fungibility, and is resistant to inflationary pressures and manipulation. Bitcoin is often hailed as the quintessential example of sound money due to its limited supply and decentralized nature.

- **Sound Money Bitcoin's Example:** Bitcoin serves as the quintessential example of sound money, characterized by its capped supply of 21 million coins and decentralized nature.

### How Bitcoin Created Sound Money
Bitcoin introduced the concept of sound money to the digital realm by implementing a hard cap on its total supply at 21 million coins, mimicking the scarcity and durability of precious metals. This cap, combined with a decentralized network secured by miners, established Bitcoin as a viable digital counterpart to traditional sound money concepts. Bitcoin's model of reducing new supply over time through halving events further cemented its status, creating a predictable deflationary currency that contrasts with the inflationary nature of fiat currencies.

- **Limited Supply:** Bitcoin's creation with a fixed supply and deflationary issuance schedule laid the foundation for sound money principles within the cryptocurrency ecosystem.

## Sound Money vs. Ultrasound Money: A Tale of Two Properties
While Bitcoin is celebrated as digital sound money, Ethereum's evolution proposes a new paradigm: ultrasound money. The distinction lies in Ethereum's dynamic supply mechanism, which, unlike Bitcoin's fixed supply, can potentially become deflationary through the burning of transaction fees. This mechanism suggests that Ethereum could not only maintain but increase its purchasing power over time, outpacing the sound money characteristics of a fixed supply by adapting to network demands and activity levels.

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### Sound money forms the bedrock of a healthy financial system. It possesses three key attributes:

- **Scarcity:** A limited supply ensures the coin's value remains stable over time. Bitcoin, with its capped supply of 21 million, is a prime example of sound money.
- **Security:** A robust and decentralized network safeguards the currency from counterfeiting and manipulation.
- **Stability:** Sound money exhibits minimal fluctuations in value, making it a dependable store of value.

**Ultrasound money** builds upon these fundamental properties, introducing an additional dimension: deflation. While sound money maintains a stable or slightly increasing supply, ultrasound money has the potential to become deflationary over time. This means the total supply of the currency could shrink, potentially leading to an increase in its value.

### Ethereum's Path to Ultrasound Money

Ethereum, the world's second-largest cryptocurrency by market capitalization, is actively transitioning towards a sound money model and even further, to ultrasound money. This metamorphosis is driven by two key mechanisms:

- **Proof-of-Stake (PoS):** Ethereum's shift from a proof-of-work (PoW) to a proof-of-stake consensus mechanism significantly reduces the issuance of new coins. In PoW, miners compete to solve complex puzzles to validate transactions and earn rewards. This process is energy-intensive and requires the constant creation of new coins to compensate miners. In PoS, validators stake their existing Ethereum holdings to secure the network and earn rewards. This eliminates the need for energy-guzzling mining and reduces the issuance of new coins.
- **EIP-1559:** Implemented in August 2021, EIP-1559 introduces a burning mechanism for transaction fees. A portion of the fees paid by users is burned, permanently removing them from circulation. This further reduces the overall supply of Ethereum over time, potentially tipping the scales towards deflation.

For instance, let's imagine a scenario where the amount of Ethereum burned through transaction fees consistently surpasses the issuance of new coins via staking rewards. This would result in a net decrease in the total supply of Ethereum, aligning with the core characteristic of ultrasound money.

### Potential Risks and Challenges

The concept of ultrasound money is intriguing, but it's not without its potential drawbacks. Here are a few considerations:

- **Hyperinflation:** Excessive deflation can be detrimental. If the rate of coin burning outpaces demand, it could lead to a vicious cycle where users hoard the currency in anticipation of further price increases, stifling economic activity.
- **Monetary Policy Changes:** The trajectory of Ethereum's monetary policy hinges on future protocol upgrades and community decisions. Unforeseen changes could impact the deflationary nature of ultrasound money.

## Now you know what these emojis 🦇🔊 mean
The bat and loudspeaker emojis (🦇🔊) have come to symbolize the concept of ultrasound money within the crypto community, representing Ethereum's ambition to transcend the limitations of traditional and digital sound money. These emojis encapsulate the enthusiasm and forward-thinking nature of Ethereum's vision, serving as a shorthand for the transformative potential of Ethereum's economic model post-merge. Through innovations in tokenomics, a deflationary supply mechanism, and a commitment to sustainability and security, Ethereum is on a path to redefine value in the digital age, aiming to become not just a platform for applications but a new standard for money itself.

In conclusion, Ethereum's narrative as ultrasound money is not merely about technological advancements or economic mechanisms; it's about reimagining the foundation of digital value and scarcity. For staking enthusiasts, investors, and the broader crypto community, this narrative offers a vision of a future where money is not just sound but ultrasound, resonating beyond traditional financial boundaries into a new era of blockchain-based finance.




Ethereum Ultrasound Money - deflationary crypto? PoS & EIP-1559 explained. Future of finance?

Ethereum Ultrasound Money: Deflationary Currency of the Future

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Ethereum Ultrasound Money: What is and how this MEME came up!

If you’re interested in crypto and interested in making long-term gains, not just riding the short term hype then this article series is for you. We’ll be diving into how our psychology plays into good and bad crypto investment decisions – and teaching you how to invest more intelligently.

The principles outlined here are largely influenced by Morgan Housel’s book *The Psychology of Money* and [his podcast with Bankless](https://www.youtube.com/watch?v=9VflkmluTVQ&t=1121s).

Economic history has repeated itself over and over again and yet we struggle to learn the lessons it has to teach us. Even though crypto is a new technology, it’s not special. It falls into the same patterns as every other market throughout history.

That being said, let's get into the various lessons that psychology and history has to teach us about crypto investing.

# It’s Not What You Know, It’s How You Behave That Matters

Finance is one of the only industries where someone with an exorbitant amount of information and expertise can perform worse than an absolute beginner. Succeeding in the world of crypto investing doesn’t depend on how much you know, only on how you behave as the market ebbs and flows.

Furthermore, acquiring wealth as a whole follows the same principle. Getting good at wealth acquisition is about your psychology and behavior more than mere rational competence. For instance, let’s say someone has an expert level understanding of crypto and blockchain. They could even be a developer and understand everything there is to know about the code that powers Web3 infrastructure. Despite all of this competence, if there’s no ability to control impulses and not buy into the hype or fear of the collective market emotions then this person will always get burned in their investment decision.

The best indicator of wealth generation is the investors degree of patience and long-term decision making capabilities.

# 99% of Projects Will Fail, and That’s Okay

If history has taught us anything it’s that when a new technology is born and a new era emerges it takes thousands of failed attempts before key innovations stand the test of time.

Crypto isn’t excluded from this pattern. The majority of projects in this industry will fail, and in fact we’re seeing this happen. Every week a huge project fails and this is just par for the course. Last weekend Binance suffered a $500 million hack, a few months ago UST collapsed alongside 3AC, Celsius, and Tornado Cash, then stETH depegged, the list is endless.

The key lesson here is that these project failures don’t indicate that the industry is going downhill and blockchain is doomed. In fact it’s a good thing. It means that millions of people are devoted to innovating and inevitably failing big in the process.

## The Pattern of How Technologies Are Brought to Market

In his podcast with Bankless, Morgan Housel notes that this is how new technologies have always been brought to market. For instance, in the early 1900s there were 2,000 American car companies. 2,000! You know how many there are today? Three. That’s right: Chrysler, GM and Ford.

Obviously this didn’t mean that automobiles were a failed invention. No. A few key players beat out the rest and now virtually everyone owns a car. Sure, the vast majority of blockchain projects will fail, but a few lucky ones will completely revolutionize the world and life will never be the same again.

## There Will Always Be Pushback, That’s Okay

It seems that there’s collective frustration in the blockchain space about why there isn’t more widespread adoption. Everyone within the space can see how this technology will revolutionize the world, but it seems that few else can.

Crypto will follow the same patterns that new technological innovation has taken throughout history. As Housel point out, when cars were invented there was a huge pushback. Resisters thought that they were inhumane to horses, yet look at our transportation systems today.

There will always be pushback to new technological innovations. Sometimes new technology doesn’t quite fit into the worldviews of previous generations and that’s okay. That’s only to be expected. The philosopher who coined the term *paradigm-shift*, Thomas Kuhn, can help us understand this phenomenon further.

*“Paradigm-shifts don't occur by trying to convince people of a new paradigm, they occur when the practitioners of older traditions of science die and new scientists are able to look at both sides impartially and not be blinded by the previous scientific paradigm.”*

*“Progress is when prior achievements seem problematic because the paradigm is being undermined.”*

*“A prerequisite to paradigm change and discovery is a deep and often rebellious skepticism of the current scientific model.”*

What we’re seeing here is not that money itself is changing, but that our perception of the purpose of money is shifting. Therefore, as Kuhn helps us understand, anomalies and crises are prerequisites to a paradigm shift in science and similarly to economics.

# Optimism Always Exceed the Potential of New Tech

The ways that people in the blockchain space think that this technology is going to change the world is likely not the ways that it actually will. The optimism of this technology is often ungrounded, but that doesn’t mean that this technology won’t have widespread implications on how we coordinate across the internet.

Housel points out that particularly when investing in a technology as new as blockchain, the majority of people will likely lose a lot of money and a few lucky ones will strike it hyper-rich.

Furthermore, the success of investors says nothing about the validity of the industry writ large. Let’s step back and take a look at the internet boom of the 1990s. Brian McCullough [writes about the internet boom](https://ideas.ted.com/an-eye-opening-look-at-the-dot-com-bubble-of-2000-and-how-it-shapes-our-lives-today/) saying “*So, who ended up holding the bag? Average investors. Everyday people were the most aggressive investors in the dot-com bubble at the very moment the bubble was at its height — and at the moment the smart money was getting out. By 2002, 100 million individual investors had lost $5 trillion in the stock market.*”

Virtually all of these website and business plan companies had little substance behind them and were being valued as multi-million dollar valuations. Does this mean that the internet was useless and nothing good came out of it? Of course not, it has completely revolutionized every aspect of modern life. Yet the way it came to fruition was not exactly how the retail investors of the 90’s thought it would.

Now fast forward to blockchain and the current state of affairs. There are countless overyhyped NFT projects that are valued at millions of dollars in ETH which will likely collapse. Does this mean that NFTs are doomed and won’t contribute anything to the future of how we monetize and own content on the internet? Of course not, something will break through, but there will also be hundreds of projects that will flop and go to zero, tons of people will lose tons of money and that’s just the way innovation plays out.

# Conclusion

In order to become a more intelligent investor we need to integrate the lesson that our road to smarter investing isn’t about knowing more information, it’s about learning how to behave more wisely. We’ll talk much more about what it means to behave wisely and not buy into hype cycles in the following articles. Understanding this point can give us solace because the crypto space is so vast and we could never understand it. Rather, we can choose to master a few principles and relate to the space more intelligently as a result.

One aspect of this intelligent relationship to crypto is realizing the majority of crypto projects will fail and that’s okay. The failure of most projects isn’t indicative of the failure of the broader crypto ecosystem, it’s just a marker that trial and error innovation is taking place. Millions of people are moving fast and breaking things when it comes to blockchain and this will lead to massive innovation, but also massive failures.

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Understanding Patterns of Innovation

# Why Liquid Staking could be the Answer to More Decentralization

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Satoshi Nakamoto's Bitcoin whitepaper was published in 2008 in response to the global financial crisis. The Bitcoin network was created early in 2009, with the headline embedded in the first block: "Chancellor on the verge of the second bank bailout." The project's objectives were to create an alternative, voluntary, transparent currency and peer-to-peer payment network which would be more resilient than existing financial institutions.

Previous attempts at digital currencies, such as DigiCash and E-Gold, have failed because they were built with centralization, which made them vulnerable to government regulation and intervention. On the other hand, Bitcoin doesn't have a central figurehead and is much more resistant to these attempts at shutdown via government regulation and intervention.

The [Nakamoto consensus](https://bitcoinmagazine.com/guides/what-is-nakamoto-consensus-bitcoin) was a significant milestone in digital currency advancement. The Nakamoto consensus is a system in which miners generate cryptographic hashes. The network's nodes only accept the related block as genuine if the hash contains a particular number of leading zeros. This system is referred to as mining or Proof-of-Work (PoW).

# **The Principle Behind PoW mining**

Joining the PoW network is easy! Just download the software, sync the blockchain, and look for hashes using your computer's CPU power. The chances of creating a block depend on how fast you generate hashes. Since this varies depending on your machine's processing power, mining is a competitive activity where people try to get the lowest mining costs through economies of scale.

The network can be trusted as long as trustworthy miners control most of the network's hashing power. This is what secures the network. PoW is what's behind some of the most popular cryptocurrencies, such as Bitcoin and Ethereum, but it has some severe disadvantages.

An adversary that wanted to disrupt the network would need to put a lot of computing power into taking over most of the network's hashing power. This has been a problem for a long time and has led to the development of other ways to resist [attacks](https://www.geeksforgeeks.org/sybil-attack/), the most notable being Proof-of-Stake (PoS).

# **The Rise of Proof of Stake (PoS)**

The Proof-of-Stake algorithm is becoming more popular as a way to protect decentralized networks. PoS has several advantages over PoW, including quicker confirmations, lower operating costs, increased speed, and less environmental impact.

PoS uses native cryptocurrency tokens as collateral to decide who can participate in the consensus process of a blockchain network. The collateral is committed along with the primary duty of participating nodes, which is to follow the protocol's rules.

# **Understanding Validator Nodes**

Validators are nodes that use private keys to execute the protocol’s software. They arrange and validate transactions, interact with other nodes, and update their ledgers to stay synchronized with the rest of the network.

As was mentioned earlier, validators in PoS networks use collateral in the form of cryptocurrency tokens (the "stake") to back them up. Token holders who stake ("stakers") help improve network security by choosing dependable validators and making it more expensive for potential attackers.

They earn tokens in proportion to their stake backing, which acts as compensation ("staking rewards"). In addition to network issuance rates and transaction fees paid inside the network, other variables that affect the quantity of these rewards include staking participation rates and validator-specific factors (like uptime and commission rates).

If a validator wants to participate in the consensus process, they need to have some of their collateral held in escrow by the network. This collateral is usually at risk of being seized if the validator breaks the protocol's rules (known as "slashing"). This is meant to discourage validators from attacking the network by double-signing.

If a participant in a decentralized financial protocol wants to withdraw their staked assets, they may have to wait a certain amount of time - known as the "unbonding time" - to retrieve them. This can put an economic cost on the owners of the at-risk assets.

# **The Rise of Liquid Staking**

In response to the capital inefficiencies of traditional staking, [liquid staking](https://medium.com/ankr-network/liquid-staking-explained-a-guide-for-the-defi-curious-9af80287e06a) has been developed as an alternative. With centralized exchanges that pool assets and use off-chain contracts, traditional staking constraints can be easily evaded.

Liquid staking is a rapidly developing area that uses tokenized staked assets to expand their usage and application areas. Liquid staking provides more efficient use of capital, freeing speakers to take advantage of new trading and yield-generating opportunities.

# **The Future of Staking**

There is a shift in how most blockchain networks are secured. In 2017, Polygon was created as a critical player in the Proof of Stake (PoS) ecosystem. Several more PoS blockchains have opened or will launch soon. Bitcoin and Ethereum, however, continue to operate on the older Proof of Work (PoW) protocol.

Even though blockchains are still in their early stages, much progress has been made in terms of infrastructure and identifying use cases suited for widespread adoption. There is still much room for improvement in PoS systems, and more research needs to be done to find the most efficient solutions.

Although there hasn't been enough research on the long-term effects of the restrictions typically placed on assets subject to staking, it's clear that staking will be essential for securing most blockchain networks and will probably be vital in establishing the framework for the future financial system.

The biggest threat to Proof-of-Stake systems is that exchanges will start offering staking services, giving them much control over the network. This is because exchanges can easily skirt technical limitations and make the process more straightforward and user-friendly.

The severe consequences of continuing this behavior include defunding community validators, reducing network resilience, and possibly corrupting governance processes. PoS networks can only offer moderate censorship resistance if a few parties can shut down a blockchain network or filter transactions.


# **Conclusion**

Within a brief time frame, liquid staking has given rise to an industry that might present an option to exchange staking and stimulate a deluge of fast staking development. Like the decentralized finance ecosystem found on Ethereum, liquid staking affords composability, permissionless innovation, and an everlasting testing ground.

Assuming liquid staking would be beneficial for a blockchain network in the long term, several factors could make or break the success of liquid staking. These include how liquidity is handled, dependence on other networks, how governance rights are managed, and any legal problems that could arise.

In conclusion, liquid staking is a crucial development for PoS systems. It could improve capital efficiency, network stability, decentralization, and new business opportunities if executed correctly. This is an excellent chance for PoS protocols and investors to capitalize on.

# **Join the conversation on Ankr’s channels!**

[Website](https://www.ankr.com/) | [Twitter](https://twitter.com/ankr) | [Telegram Announcements](https://t.me/anrknetworkann) | [Telegram English Chat](https://t.me/ankrnetwork) | [Help Desk](https://ankrnetwork.atlassian.net/servicedesk/customer/portal/10) | [Discord](https://discord.gg/e4n8mAejGb) | [YouTube](https://www.youtube.com/channel/UCErrNjCg6raOsq5MQ9fpIig) | [LinkedIn](https://www.linkedin.com/company/ankr/) | [Instagram](https://www.instagram.com/ankr) | [Ankr Staking](https://eth2.ankr.com/)


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Why Liquid Staking could be the Answer to More Decentralization

Filipe, our Chief of DeFi, will be at the staking event in Lisbon to speak about how trustless liquid staking will influence the validator business. 

Ankr is excited to use this moment to share how staking technology will change the blockchain ecosystem in Lisbon this upcoming week.

# Why Trustlessness Matters in Staking?

As you might know, we've been working on the subject of how to participate in proof-of-stake ecosystems securely. The key challenge in the liquid staking space is how to reduce centralized party risk while maintaining liquidity of staked assets and an effortless user experience (ie: not having to set up a node to stake).

We believe that trustless staking is vitally important for the future of ETH staking because it reduces the risk of any single entity gaining control of large amounts of staked assets. Lido and Coinbase staking currently control the vast majority of Ethereum staked assets and thus, This could manipulate the Ethereum network. This goes against the trustless, decentralized ethos that Ethereum was founded on. Likewise, this is why we’re committed to building a trustless staking solution that allows users to stake their ETH without having to worry about centralized party risk.

# SSV Staking as a Trustless Solution

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SSV stands for Secret Shared Validator, which means that the staking node architecture is built to ensure that if one of the operators isn’t trustworthy, it won’t affect the network as a whole. In other words, SSV technology significantly reduces slashing risk by ensuring that node operation is shared by multiple operators.

The core barrier to staking without operating a node is how in the world to know which nodes to trust. SSV technology provides a solution to this very challenge by encrypting the node’s validator keys and splitting them into four Keyshares. Then, they distribute these KeyShares to four node operators who share node management responsibilities.

For more detailed information about how SSV staking works, please [read on](https://medium.com/ankr-network/trustless-liquid-staking-removing-intermediary-risk-with-ssv-technology-3f6a71c6b4a6).

# What to Expect at the Summit

Filipe will be speaking on a panel about how [liquid staking ](https://www.ankr.com/blog/liquid-staking-a-comprehensive-guide/) will impact the validator business.

Other key people in the staking industry speaking on the panel include: Nico Vergauwen (Tenderize), Mara Schmiedt (Alluvial Finance), Claudio Cossio (Meta Pool), Isidoros Passadis (Lido Finance).

The talk will be taking place on November 8th. You can find more [information about the summit here](https://www.stakingrewards.com/summit/).

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# Conclusion

As we’ve seen, Ankr’s trustless liquid staking is a game-changer in the world of Ethereum staking. Don’t miss out on this opportunity to learn more about ETH staking and how you can use Ankr’s technology at the summit from the staking’s leading innovators.

We hope to see you at the event in Lisbon. Cheers!

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Ankr is Speaking at the Lisbon Staking Summit!

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If you're new to DeFi, the multiple components of liquid staking might be overwhelming. As a general rule, the more openness and lack of trust, the better. As a result, Ankr is collaborating with SSV.network, an Ethereum Foundation project, to include Distributed Validator Technology into the Ankr Liquid Staking protocol. In this post, we'll go through what this implies for you as an Ankr user, our product future, and the consequences of this new technology for the Ethereum ecosystem.

This article expands on our earlier piece, Ankr-SSV Partnership: A Step Closer to Trustless ETH Liquid Staking, in which we introduced SSV technology and discussed how it works and connects to staking.

### What Does It Mean to Be Completely Trustless?

Trustless systems have the ability to reshape economic relationships by letting consumers establish trust in abstract notions rather than institutions or other third parties," Binance said in a recent post. This allows us to see where the trust is put.

At the end of the day, there is no such thing as a completely trustworthy system. Faith exists in some form or another; the issue is, where do you place your trust, and how do you assess it?

If you participate significantly in the TradFi procedures, you will see that your confidence is fully in the hands of the centralized organization/bank. As a result, if that business fails, your assets will collapse as well, resulting in substantial counterparty risk at the end of the day.

Assume you're involved in blockchains and the DeFi space. In that situation, you trust the source code and consensus procedures of any blockchains in which you invest – Bitcoin, Ethereum, Polygon, Avalanche, and so on.

With that stated, we'll argue that Secret Shared Validator Technology is the least hazardous alternative for delegating staked assets. This is why.

### Ankr and SSV Join Forces

Ankr is pleased to announce that we are collaborating with SSV.network to offer a new liquid staking solution that is completely trustless and non-custodial.

We are dedicated to creating the most secure and dependable liquid staking technology available. SSV technology is the next step in our plan to become completely trustless, permissionless, transparent, and decentralized.

Furthermore, if implemented successfully, this update will assist Ankr in adapting to the shifting staking ecology that Ethereum is implementing as part of The Merge and the Shanghai upgrade.

### A Protocol for Trustless Liquid Staking Asset Delegation

We do not intend to immediately switch over all of our liquid staking products. Instead, we will divide our liquid staking services into two products: SSV Liquid Staking and the original liquid staking.

Let's start with why trustless staking architecture is such a big deal in the first place.

The key benefit of blockchain, as we all know, is its trustlessness. Similarly, entrusting your blockchain-based assets to an intermediary contradicts the point of blockchain. Fast forward to the present, and the marketplace's ecosystem of liquid staking possibilities all demand trust and authorization at some point. You must trust that they will choose reliable validators and maintain the value of your derivative tokens as near to the original asset value as feasible. Unfortunately, you, the user, have no idea who these validator node operators are and have no way of knowing who to trust with your delegated assets.

### SSV Technology Promotes Blockchain-Wide Decentralization

Furthermore, major exchanges like Binance and Kraken may contribute to the overall weakening of blockchain security. Justin Drake discussed this in an interview with The Defiant, noting that the biggest concern to the security of Ethereum's new Proof of Stake consensus method is huge staking validators capable of a 51% assault.

In other words, the decentralization and trustless security of PoS architecture are only sufficient if users seize their newfound sovereignty and either 1.) operate their own nodes or 2.) do due diligence to guarantee that their delegated assets are supporting nodes independent of "staking giants."

Assume that we, as DeFi network members, do not verify that we provide trustless architecture and instead enable centralized staking entities. In that situation, the staking environment has a serious chance of becoming even more centralized than the PoW mining landscape.

### The transition of Ankr to a Completely Non-Custodial Staking Service

Many staking solutions aren't completely trustless since they utilize custodial validators rather than non-custodial ones. Platforms like Lido and Rocketpool, for example, operate non-custodial nodes. This implies that when the protocol wishes to unstake certain assets, it must depend on the validators to do so. As a result, they must believe that the validators will manually unstake and behave honestly.

Remote unstaking without input from the validator would be the perfect approach. When enough users (32ETH total) wish to unstake their assets, a remote unstake of the Ethereum validator might be triggered, making the process trustless and permissionless.

Ankr is transitioning to a non-custodial staking model, which requires decentralizing the whole network of validators.

SSV Promotes the Security of Fungible Liquid Staking Derivatives such as aETHb/aETHc are fungible, which means that each derivative token is similar to every other token. In other words, each token represents a fractional investment in the network's validator nodes.

Furthermore, our liquid staking tokens' fungibility is both a strength and a vulnerability. On the one hand, this implies that aETHb (for example) may be purchased on a DEX and subsequently unstaked for its full value once the Ethereum Shanghai Update occurs. You do not have to be the initial staker who placed your ETH into the Ankr protocol to do so. You can see how this is a significant benefit.

Furthermore, this fungibility may be a problem since it implies that if one of the validators to whom Ankr delegates assets are sliced, everyone who has the liquid staked derivative loses rather than just the individual who decided to delegate to that validator. In other words, if one of the validators chosen by Ankr were slashed, the whole aETHb asset value would be reduced by a negligible amount rather than laying the blame on the original stake that was elected to delegate to that node. But keep in mind that people who liquidate their Ankr stakes do not get to pick who receives their assets. This duty falls on Ankr protocols as a whole but not solely on Ankr protocols since liquid stakers suffer if any of the network's validators are fined.

The Distributed Validator Technology developed by SSV.network offers a solution to this challenge by ensuring a network of four nodes at all times, lowering risk. If one of the nodes fails, the other nodes will take over. Specifically, for a transaction to be validated, three of the four parties must authorize it.

### Eliminating Single Points of Failure in Asset Delegation

In response to these issues, Ankr has decided to strategically shift to Secret Shared Validator (SSV) Technology in order to promote itself as a truly trustless liquid staking solution.

### How SSV Helps to Reduce Single Points of Failure

The node architecture of SSV technology is designed to guarantee that if one of the operators is not trustworthy, it will not harm the network as a whole.

Let us provide an example to understand better. Let's imagine we have one node operator called Ben, and although he wants to be a trustworthy operator, his network connection is unreliable, and his nodes fall down rather regularly, increasing the danger of cutting significantly. This is what would happen if he were a member of an SSV network. When he went down again, one of the other three out of four operators would take up the slack for that node, lowering overall risk.

Given that Ankr delegated its assets to our Secret Shared Validator Network, this would imply that we are assuring that there is no single point of failure and so boosting overall staked asset security.

We will keep the assets of SSV liquid stakers on a totally fault-tolerant, slashing-free, decentralized security layer after SSV technology is included in the Ankr protocol liquid staking process.

### Conclusion

In brief, when delegating assets to nodes, all liquid staking mechanisms on the market now need you to trust them. This asset delegation risk will be considerably reduced with the future launch of Ankr's SSV-run liquid staking service by eliminating single points of failure and delegating staker assets to a network of nodes rather than a single validator node with different degrees of risk reduction.



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Trustless Liquid Staking: Removing Intermediary Risk With SSV Technology

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The better the capital efficiency of an investment, the more utilizable capital you obtain from it. Consider this: if you invest $1,000 in a Fortune 500 company, that money is capital inefficient since it is locked up in the stock and can only be used in one way: selling it. Similarly, when you stake your assets on a PoS blockchain, those assets become locked up and capital inefficient. Furthermore, staking Ethereum, in particular, is massively capital inefficient since your assets are not only locked but are held indefinitely until the entire proof of stake merging occurs.

Liquid staking emerged as a solution with the fundamental value proposition of allowing capital efficiency on staked assets. It implies that you may stake a token like BNB and obtain a liquid staked token equal to the value of your original staked assets using protocols like Ankr Staking. As a result, you may now use those staked assets in additional DeFi strategies, making it capital efficient once again. When you wish to cash out, you start the unbonding period on Ankr Staking and wait for your original assets + staking winnings to arrive.

### What Is the Importance of Capital Efficiency?
The ability to access previously locked money gives new options to deploy capital and enhance return.

Furthermore, you may now stake your assets without the inconvenience of establishing a node or the whole cash necessary to maintain a node. This leveled the playing field of possibilities!

It also gives you more freedom and flexibility to use your cash wisely, leading to improved decision-making for investors. The majority of protocols require you to wait a specific amount of time before you may access your tokens if you want to unstake them. However, with liquid staking, you may simply sell your liquid-staked tokens on the market and have immediate access to your cash. Furthermore, you may distribute your staked tokens via different DeFi protocols to increase your return, whether you provide liquidity or lend your tokens to others.

Liquid Staking additionally expands DeFi's technical possibilities. It enhances the DeFi ecosystem as a whole, offering additional liquidity, connecting communities together, and making them more efficient via new listings on DEXs, new loan markets, or new arbitrage possibilities.

### Liquidity Pools' Capital Inefficiencies

With that stated, we can see how the fundamental benefit of liquid staking is the capital efficiency gained even when your assets are staked. The last thing we want to do is lock up the assets in quest of higher income. One of the key disadvantages of liquidity pools is that capital efficiency is lost. Above all, you can't use it; your assets are once again locked.

As a result, we can observe that liquidity pools inside DEXs have more underlying concerns than first seems.

The use of Liquid Staked Tokens in LPs reduces overall rewards.
Remember that the major motive for yield farming inside liquidity pools is to earn transaction fees from the pool. As a result, the best LP combination would be two assets that are tied to each other, such as USDC/DAI or wBTC/BTC. However, liquid-staked tokens, such as aETHb, are reward-earning and rise in value over time as a consequence of incentives.

The main problem is that having a liquidity pool with an asset and its liquid-staked derivative has a number of drawbacks. Consider this: in order to provide money into a liquidity pool, you must deposit two assets of equal value. You might, for example, provide aETHb and ETH. But, since aETHb already receives rewards and ETH does not, you'd earn more return by transferring all of your available assets into aETHb rather than distributing it evenly between aETHB and ETH for the purpose of the liquidity pool.

Furthermore, the liquid staked derivative (ie, aETHb) grows in value and is hence liable to Impermanent Loss. To summarize, the liquidity pool transaction fee incentives do not compensate for the opportunity cost of just staking half of your assets and the temporary loss from the reward-bearing nature of liquid-staked derivatives.

### Conclusion

Finally, liquidity pools are dangerous, and we would not encourage placing liquid staked tokens into them since it reduces staking profits due to temporary loss and makes your recently capital-efficient assets inefficient again.




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Author’s articles

Understanding veTokenomics: A Comprehensive Guide

Understanding Liquidity Pools: The Impact of Concentrated Liquidity

Ankr Unlocks the Power of Omnichain Liquid Staking

Midas Capital and Ankr: Empowering DeFi Users with Innovative Liquidity Solutions

Ankr and Midas Partner to Launch Innovative Liquidity Pool

The Ankr Liquid Staking Solution

Solutions

Web3 API

Scaling Services

Bitcoin Secured Infrastructure

Staking Solutions

Tools

Block Explorer

Verify

More

Neura new

Enterprise Solutions

BNB Chain

Chiliz

Polygon

SushiSwap

See all cases

Docs

Github

Ankr Whitepaper 2.0

Brand Assets

About Us

Blog

Press

Careers

Ethan Nelson

Author’s articles

Understanding veTokenomics: A Comprehensive Guide

Understanding Liquidity Pools: The Impact of Concentrated Liquidity

Ankr Unlocks the Power of Omnichain Liquid Staking

Midas Capital and Ankr: Empowering DeFi Users with Innovative Liquidity Solutions

Ankr and Midas Partner to Launch Innovative Liquidity Pool

The Ankr Liquid Staking Solution

Neura
new