We’re happy to announce we’ve become a verified provider at Staking Rewards, arguably the most reliable data provider of all things staking. Having worked with them for a few years, we know what we’re talking about.
Last month we chatted with their Sales and Operations Manager David Walsh about their newly launched verification program, validator roles, and the roadmaps and plans of both companies.
Here is the recap of that conversation.
The Important Roles of Validators
Validators maintain blockchain security by validating blocks on PoS blockchains. With Everstake, the biggest decentralized staking provider, delegators can earn as much as 20% annually. It is essential to select a responsible validator because you can get a lower APR or, if you delegate your assets to an irresponsible validator, lose your staking rewards.
Identifying a Responsible Validator
Staking Rewards—the leading data provider for staking—recently rolled out the Verified Provider Program. It helps investors make quicker and more confident decisions when choosing between thousands of staking providers.
Users only delegate to validators who do their job well. For most delegators, a reliable measure of validator performance is its uptime and community sentiment. A verified provider also means that the company as a staking provider meets the high requirements relating to risk management, longevity, security measures, and other things.
Validator fees and APRs are the two determinants of whether a validator is a good match for a user. Every investor must conduct their own research. They should look into who the teams and companies are, what the platforms do, and how many blockchains they have up and running to decide which staking provider to choose. Solutions, such as the Verified Provider Program by Staking Rewards, can make this crucial process considerably effective.
Educating the Community
Our community does not always have the time to understand how things work “under the hood.” Validators must step up to educate the community and help its members understand a project from operational and technical standpoints. As a case in point, Everstake recently launched a live blockchain course in Ukraine for over 1,000 people enrolled. There are about a dozen lessons uploaded to the internet for the community.
Everstake’s Blockchain Managers, who are basically community managers of each chain, are providing resources to the community. They are available to the public and will be used for community outreach and user education.
Overcoming Communications Issues
Overcoming communications issues between networks and foundations is often tricky. In many cases, foundations are unaware of the community’s needs and validators. The same applies to communications between validators and prominent players in the market.
Roadmaps and Future Plans
For Everstake, the next set of conferences and meetups will be in New York, at the Chicago Hackathon hosted by Wormhole, and then at Solana’s Breakpoint in Lisbon.
Staking Rewards’ Verified Provider Program will also be improved over the coming weeks, partly via contributions from the Everstake team, the project’s marketing and legal teams, and the multiple blockchain managers who made it all possible.
The company expects to release another batch of verified validators. It will continue to develop block explorers and wallets through which users will be able to see a verification badge across third-party applications. It will help Staking Rewards and Everstake reach their ultimate goals of integrating effective verification services with a tight-knit ecosystem. Platforms, delegators, validators, and investors will learn effectively the status and reliability of different network participants—all via a trusted and verified program.
The Staking Rewards team believes that future developments are always underway in a team forum, and upcoming features may include more program data, provider profiles, and scaling of the offering.
We’re excited about joining Staking Rewards’ Verified Provider Program and appreciate the efforts to create great things for the staking community.
Check our Twitter for the latest updates from our company and read our Blog for more information about our partnerships and ongoing issues.
