House Of Chimera

2023-03-24 19:00:00 ETH Staking Statistics

We have discussed the basics of Staking and Liquid Staking in the past few days. Let's put these into perspective for the #Ethereum blockchain . It's worth noting that currently, over a third of the total staked $ETH is in Liquid Staking, with the majority being staked via Lido Finance.

Total ETH staked: 17.7 million ETH
% of staked ETH: 14-15%
Total validators: 554,602 ETH
Liquid Staking market share: 33.40% Open / Comment

2023-03-24 16:01:06 BREAKING: Nasdaq Eyes Crypto Custody Launch by the end of Second Quarter

Safekeeping Bitcoin and Ether would be the first step to building a broad suite of services for the group’s digital assets division.
Exchange group joins other big finance firms with crypto plans

Source: https://www.bloomberg.com/news/articles/2023-03-24/nasdaq-eyes-crypto-custody-launch-by-end-of-second-quarter#xj4y7vzkg Open / Comment

2023-03-24 15:00:00 Exploring Ethereum Staking Options

In the previous post, we mentioned that to stake your funds on #Ethereum, you must have at least 32ETH; however, this is not the only way to stake $ETH. Let's discover the different staking choices.

Self Staking
The first option we have already briefly introduced refers to running a validator node on the PoS #Ethereum blockchain . To become a validator , you must stake a minimum of 32 ETH. However, this option is capital-intensive , and if there's a network issue or the validator makes a mistake, their staked $ETH would be slashed by half. Moreover, validators can't suddenly move their assets until the lock time frame is completed .

Exchange Staking
If you don't have the minimum 32 ETH, you can join a staking pool , which is less capital-intensive. This involves a centralized crypto exchange creating a pool where customers can deposit their assets for staking. Users can stake any crypto asset amount and also easily un-stake anytime they want without affecting the exchange pool. However, there are some limitations. Users must trust a centralized party considering the platform can be breached or become insolvent , making it impossible for investors to recover their funds. Additionally, most exchanges charge a withdrawal fee when users want to remove their funds.

Locked Staking
In this system, staked assets are largely inaccessible until the staking timeframe passes . The period ranges between one and three months on most exchanges.

In conclusion, each Ethereum staking option has pros and cons, and it's essential to consider these before making a decision. Open / Comment

2023-03-24 11:00:00 GM!
Do Kwon, the crypto entrepreneur responsible for the $40bn Terra Luna collapse, was arrested in Montenegro . Hours later, charged him for defrauding crypto customers. Open / Comment

2023-03-23 20:37:28 GameFi Unleashed

Join our GameFi panel with Realm Hunter, Eldarune, Heroes of Lowhelm and Bloometa on the 24h of March, 4 PM UTC!

Incredible Prize Pool (worth +1,000 USD)
Twitter Spaces: https://twitter.com/i/spaces/1lPJqBpaBDYxb
Attend our AMA & Gleam to participate in the prize pool: https://gleam.io/cfa9d/house-of-chimera-deep-dive-gamefi-panel Open / Comment

2023-03-23 19:01:06 Projects – Lido Finance

As we have learnt, Liquid Staking is gaining popularity ; thus, let's understand the most well-known provider. Lido Finance entered DeFi intending to limit the burdens linked to $ETH staking because if you want to stake $ETH there are inconveniences to overcome:

Illiquidity - Locked $ETH unavailable for months/years
Users can only stake multiples of 32ETH

Therefore, Lido makes staked $ETH liquid and allows participation with any amount of $ETH. Overall, it enables users to stake, for instance, $ETH and receive stETH tokens in return in real-time, with stETH balances updated daily. Notice that Lido supports staking and using funds across other Proof-of-Stake chains like $SOL, $MATIC, $DOT, and $KSM. Once staked, "st+asset-ticker" derivatives can be used in 27+ DeFi applications and wallets.

Note that Lido charges a 10% fee for its services. Open / Comment

2023-03-23 16:28:20 GM! After the UK´s disappointing inflation numbers (10.4% in February), the Bank of England might raise the interest rate at 12 PM (GMT) Open / Comment

2023-03-23 15:00:30 Liquid Staking – Benefits

We have already discovered that Liquid Staking enables users to earn additional rewards while having their funds locked . This is because the technique introduces mobility that, for example, allows to:

offset losses from the staked funds
increase returns

Long-term locking of funds in crypto assets can be risky due to their volatile nature. The value of the locked digital currencies can also fluctuate based on the underlying asset's performance. This can potentially result in losses during bear markets. However, Liquid Staking allows the withdrawal of a tokenised version and to deposit it in income-generation systems to cover losses.

Secondly, it provides possible access to multiple income streams, meaning that the tokenised version can be used as collateral to obtain crypto-backed loans, which can be deposited on higher yield-bearing accounts. This enhances returns on a single investment . Open / Comment

2023-03-23 11:00:15 GM!
After the UK´s disappointing inflation numbers (10.4% in February), the Bank of England might raise the interest rate at 12 PM (GMT) Open / Comment

2023-03-22 21:02:24 BREAKING: Federal Reserve raises interest rates by 25 basis points Open / Comment