Walnut —— A Decentralized Staking Platform, the Uniswap of Staking Economy
Staking Economy is a result of PoS (Proof of Stake) consensus.
In 2018, the Staking Economy reached a climax under the strong promotion of EOS's top 21 super nodes elections. After more than 3 years of rapid development, the market size of Staking Economy has reached 30% of the total cryptocurrency market. The value of locked staking assets are as high as 146.5 billion U.S. dollars, and more than 20 billion U.S. dollars in staking rewards are distributed every year.
Difficulties Faced by the Staking Economy
However, in such a huge market, the top 0.05% of staking service providers hold 13.7% of the market, and almost all staking service providers are controlled by centralized institutions. Just like the cryptocurrency trading market before the emergence of Uniswap. This situation has brought the following effects:
1、A small number of institutions control the security of the PoS network: As the Staking Economy is closely related to the underlying consensus of the PoS network, with the centralization of institutions that provide staking services for staked asset holders, many PoS network super nodes or validator nodes are under the risks of being controlled by a small number of institutions, greatly challenging the security of PoS network consensus. In some PoS networks, a centralized organization operates multiple nodes, and even more than half of super nodes or validators are controlled by a single entity.
2、The existing "Stake A Get A" model is not beneficial for ecological development: The original intention of the PoS consensus mechanism is to allow the holders of staked assets to act as validators or guarantors of nodes to jointly protect the security of the PoS network. However, Staking Economy's "Stake A Get A" allows the holders of staked assets to give up governance rights and becoming mere financial investors, losing the vision of promoting the future development of the PoS network and protecting its security.
Decentralized Staking Solution
Nutbox Walnut Network allows us to see the hope of solving this problem. Walnut is a decentralized staking platform, which allows anyone to create a decentralized staking pool as easy as creating a trading pair on Uniswap.
Nutbox Walnut removes the restrictions to becoming a super node or validator, so that anyone can create a decentralized staking pool to attract community members to participate in its Staking Economy and operate PoS network nodes or validators.
In the Walnut Network, multiple communities can run a super node or validator, or a single community can run a super node or validator. On this basis, Walnut also provides the following services to enable the decentralized staking pool to develop into a richer decentralized service platform for the community, and even promote the development of the PoS network ecology:
A、Using Walnut's smart contract, community founders can customize the asset category that rewards their staking participants. According to different settings, staked asset holders can opt for "Stake A Get A" to receive the original PoS token as before or receive its community token;
B、 Community founders can configure their liquidity mining pool with one click, and by rewarding participants with community tokens, community members are incentivized to provide liquidity for the trading pairs of community tokens, so as to build a free market that discovers the value of community tokens .
C、Create a Staking module for the community (Stake community token get community token), community version of decentralized exchange, decentralized community blog, community version of NFT and other services;
D、Configure the governance module of the community, and launch the decentralized governance of the community through the proposal voting system based on community media.
Create Your Own Decentralized Platform
Based on the services provided by Nutbox Walnut Network, anyone can easily create a decentralized staking platform, a community DeFi platform, a decentralized content platform, or a decentralized NFT or gaming platform.
Nutbox Walnut Network's decentralized staking solution has long been tested in the Peanut community. On October 20, 2020, Peanut, a decentralized staking platform based on the Steem blockchain (DPoS mechanism), was launched.
Currently, Peanut has developed into the second largest staking platform & the largest DeFi platform in the Steem network. The staked assets on Peanut have reached 8.17 million STEEM POWER, accounting for 6% of the entire network.
Nutbox Walnut Network will start its public beta in August, so stay tuned.
The road ahead is long, let us build a different world together.
Data Source
https://www.stakingrewards.com/
Translated from: Walnut —— 一个去中心化Staking平台，Staking经济中的Uniswap
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