Home Coins Ankr (ANKR) Stkr by Ankr: Staking. Reimagined. | by Ankr | Ankr | Aug,...

Stkr by Ankr: Staking. Reimagined. | by Ankr | Ankr | Aug, 2020

At Ankr, our mission from the start has been to remove barriers and give normal users the same ability big players have to support their favorite blockchain protocols. Everyday people can deploy blockchain nodes on the Ankr platform, but with Ethereum 2.0 about to launch, we are now adding a new service to the Ankr product line: Stkr.

Stkr is a decentralized protocol and platform that combines staking and DeFi, implementing elements from traditional staking with non-custodial staking, Micropools and decentralized governance.

The protocol will bring benefits to staking, in a way that Ankr has done for node hosting: it removes barriers of entry, simplifies participation and opens Staking up to everyone, without depending on any centralized authority.

Stkr is NOT a new token. The Stkr protocol is built by Ankr and relies 100% on the ANKR token.

While Ankr’s one-click deployment support for dozens of different nodes and Validators removes technical barriers, Stkr now removes financial barriers as well, adding a plethora of new utility for the ANKR token in the process.

Our initial Stkr deployment focuses on Ethereum 2.0 as we are expecting a very high demand for running Ethereum 2.0 nodes and staking ETH tokens. We are projecting thousands of new nodes to come online since having more than the required 32 ETH for a Validator yields no additional rewards.

In addition to improving Ethereum 2.0 staking, developers can also use the Stkr protocol to integrate decentralized staking on other PoS blockchains, such as Polkadot, Binance Smart Chain, EOS and Cosmos.

At Stkr’s core, there are two innovative developments that make stakers (and their wallets) happy:

  • A triple staking model around for staking ANKR tokens
  • Micropools for everyone to participate in Ethereum 2.0 staking

Let’s break down what these exactly mean, and how they help the staker.

Triple Staking Model

As the name suggests, ANKR holders will have access to three different methods to gain staking rewards.

  • Server owners can provide computing power to the platform. To be able to do this, they must stake a certain amount of ANKR tokens to ensure a minimum threshold of performance and availability is guaranteed. Poor performance is penalized and slashed stakes will be compensates to the end user from the stake. Good performance is rewarded with higher returns, with additional stake further increasing the rewards. If providers are hosting Ethereum 2.0 nodes, they will also receive ETH rewards.
  • All users of the Stkr platform can participate in governance duties by staking ANKR tokens. A certain minimum stake will be required to participate. Users will receive rewards proportionate to total reward pool.
  • Every user of the platform will be able to stake any amount of ANKR tokens to gain ANKR staking rewards and votes. The votes can be cast in elections for Governors

The Stkr protocol and platform are fully powered by the ANKR token, which is the only means of payments on the platform. Paying for resources, rewarding providers, and participating in governance all rely on the ANKR token, creating a new ecosystem of utility for ANKR.

Non-inflationary staking and more utility for the ANKR token

We have been asked many times when we would implement a staking model for the ANKR token, and the Stkr protocol is our answer. We wanted to create something that genuinely created token utility and improved the core product, not just an inflationary token emission method.

ANKR token is already used on the Ankr node and API market as a payment method for hosting fees. But with the launch of Stkr, we have reimagined our token utility!

The ANKR token is the only way to use the Stkr protocol, but users are heavily rewarded from being active in the ecosystem in order to gain rewards. Stakers become stakeholders, either providing computing power to our existing network or deciding on the future direction of the platform in governance elections to strengthen the network.

This rewards existing users, but how about introducing communities of other large protocols and drastically growing our user base?

With developer tools that help developers of other blockchains integrate Stkr into their protocols, we will not only grow the Ankr ecosystem but also add even more use cases for the ANKR token, as when Stkr is integrated in other PoS blockchain protocols, such as Polkadot, EOS and Cosmos, ANKR tokens is still the only accepted payment method for users.

Stkr presents: Micropools

At the time of writing, 32 ETH is worth over 12,000 USD. This investment might be out of reach for many users. The Micropools mechanism is our unique solution for kicking down the economic barriers for Ethereum 2.0 staking.

As the name implies, Micropools allow users to chip in portions of ETH towards a Validator, and receive a proportionate reward based on their contribution. All fully decentralized and without giving up custody of your tokens!

E.g. If a person stakes 1 ETH in a Micropool, they will receive 3.125% of all rewards earned by that Validator.

The benefits that Micropooling will provide to the Ethereum ecosystem, and any other PoS protocols that decide to implement Stkr will be apparent, as staked security from a larger amount of users promotes decentralization and resilience from any malicious actors distorting governance.

But most importantly, it opens up staking to many hundreds of thousands of investors who would not otherwise be able to participate in Ethereum 2.0 staking.

While other projects have tried providing this experience through DPoS, Stkr is the first decentralized pool function available. We are very excited to see how this enables everyone to stake and how the landscape changes accordingly.

Note: expected rewards for each staking type are to be determined based on the finalized economic model, which is yet to be released.

Stkr; Staking. Reimagined

The Stkr protocol will first launch with the Ethereum 2.0 implementation. Combined with our signature hassle-free one-click deployment , users can participate in minutes with literally zero technical knowledge.

Simplified participation is the key to mass adoption for not only the Web3 ecosystem Ankr is developing, but for the cryptocurrency industry as a whole.

Stkr provides not only a great way to increase staking across Validators for all projects involved but also acts as a triple-strength mechanism for staking of the Ankr token itself. Stkr is innovative and will truly change the face of traditional staking participation both financially and technically.

Level One complete: Level Two begins!

Read the Stkr whitepaper here.

Follow Ankr on social media

Read the original article here

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Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
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