Staking

staking

(EC) #1

With current (ETH, EOS, Tezos, Decred) and future (Algorand, Dfinity, NuCypher, Keep etc) blockchains adopting a PoS model and companies like Staked which are starting to offer non-custodial ‘staking as a service’ to institutions, it is very likely that ‘easy’ staking will be an important part of mainstream adoption. (It is worth noting that Staked offer a white-label product that can be fully integrated into other platforms)

Nash has 2 features that give it a competitive edge over other exchanges in this regard:

  1. By already offering a type of staking (NEX), albeit of a different sort, even the most basic/inexperienced users on the Nash platform will be comfortable with the idea of locking up tokens in exchange for financial reward. Offering a way to stake other coins they may own is just another reason for them to stay within the Nash ecosystem. E.g. use a debit card to purchase EOS and stake in just a few clicks/taps.
  2. Nash offers non-custodial wallets which makes it a perfectly suited to giving individuals control over their own stakes. The process itself can also be automated more easily than on exchanges with omnibus accounts who would presumably need to distribute rewards manually.

So far there isn’t a single exchange platform offering this service but with an estimated $2.5B in staking rewards to be collected in 2019, it’s likely to gain traction as the aforementioned blockchain platforms start going live. Would be interesting to see what the community as well as the Nash team think.

I know it’s early days but is such a service planned in the future? @canesin


(EC) #2

bump


(FCC) #3

@elliptic.curve that is already planned for later. Staking will launch with NEX tokens support only but should evolve to any “stackable” coin in the future. As you said: that is a natural demand on the change from PoW to stake based consensus.