In the interest of safeguarding investors from potential staking penalties, Chorus One is proud to partner with Nexus Mutual, the leading decentralised coverage provider, to introduce a range of staking coverage options for our customers. As an industry leader, we are the first node operator to purchase on-chain staking coverage to protect our customers through Nexus Mutual’s innovative tokenised cover.
Our aim is to shield our diverse clientele—including custodians, trusts, enterprises, individuals, and others—from any risks associated with staking penalties, to ensure peace of mind and uninterrupted growth. This coverage reinforces Chorus One’s risk management strategies to proactively fortify our customers’ staked funds.
Complementary base cover on staked ETH
In light of our partnership with Nexus Mutual, we are pleased to offer complementary base coverage on Ethereum staked through OPUS for all customers until the end of 2023. Additionally, clients may opt for upgradable coverage on other networks supported by Chorus One upon request. For information regarding this promotion, or to explore coverage options for other networks, please reach out to us at staking@chorus.one.
Nexus Mutual
Nexus Mutual is a decentralised coverage protocol that allows its members to join and share risk. Members are empowered to purchase cover products that protect against various kinds of risks, including staking penalties like slashing. By leveraging their infrastructure, our clients can conveniently access cover, underwrite risks, manage claims, and build resilient risk management strategies through Chorus One.
How does it work?
Nexus Mutual’s tokenised cover permits Chorus One to acquire coverage for various digital assets, represented as ERC-721 NFTs. They offer transparent and auditable claims assessment, which can be accessed by anyone through the Nexus Mutual protocol on Ethereum. Storing data on-chain allows anyone to review Nexus Mutual’s history of claim decisions and payouts.
Unlike traditional insurance, claims are processed in a matter of days and payouts are redeemable as soon as a claim has been approved. Nexus Mutual provides an enhanced claims experience for our customers by eliminating the need for third-party involvement or delays. Additionally, the protocol is designed to reward honest behaviour and penalise fraudulent activities. Learn more about the claims design and how Nexus Mutual protects against fraud protection in their documentation.
What is slashing?
Proof-of-Stake (PoS) networks offer immense growth potential for blockchain transactions. However, not all PoS networks are equal, and they introduce new responsibilities and risks for token holders. One such risk is slashing, which involves penalising validators who engage in dishonest or inactive behavior on the network. Slashing can take different forms, such as losing a predefined percentage of a validator's stake or being completely removed from the network for the current epoch or permanently.
At Chorus One, we recognise the severity of such circumstances. That’s why our robust, on-chain coverage forms an integral part of our comprehensive risk management strategy, aiming to protect all of our clients. Stay tuned for an upcoming article where we will delve further into staking penalties and Chorus One's proactive risk management practices.
"When staking your ETH, even with the best technical set-up and expertise, mistakes can happen and slashing can occur. The most professional operators recognize this and put in place protection for their users. We're excited to work with Chorus One to make staking your ETH safer." - Hugh Karp, Founder, Nexus Mutual
"At Chorus One, security holds the utmost importance as we deeply value the trust and peace of mind it brings to investors. As responsible node operators, we prioritise establishing a solid foundation of trust with our investors, ensuring the safety of their assets. Through our partnership with Nexus Mutual, we aim to offer comprehensive protection against potential asset loss arising from staking penalties." - Vic Kaul, Business Development Lead, Chorus One
About Nexus Mutual
Nexus Mutual is a decentralised insurance alternative built on the Ethereum blockchain and the leading provider of crypto-native coverage. To date, Nexus Mutual members have protected more than $4.4b in crypto assets and have paid out $17.9m in claims. The mutual was created to give people a way to hedge against the unique risks in on-chain markets.
Learn more about Nexus Mutual by visiting nexusmutual.io.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
In the interest of safeguarding investors from potential staking penalties, Chorus One is proud to partner with Nexus Mutual, the leading decentralised coverage provider, to introduce a range of staking coverage options for our customers. As an industry leader, we are the first node operator to purchase on-chain staking coverage to protect our customers through Nexus Mutual’s innovative tokenised cover.
Our aim is to shield our diverse clientele—including custodians, trusts, enterprises, individuals, and others—from any risks associated with staking penalties, to ensure peace of mind and uninterrupted growth. This coverage reinforces Chorus One’s risk management strategies to proactively fortify our customers’ staked funds.
Complementary base cover on staked ETH
In light of our partnership with Nexus Mutual, we are pleased to offer complementary base coverage on Ethereum staked through OPUS for all customers until the end of 2023. Additionally, clients may opt for upgradable coverage on other networks supported by Chorus One upon request. For information regarding this promotion, or to explore coverage options for other networks, please reach out to us at staking@chorus.one.
Nexus Mutual
Nexus Mutual is a decentralised coverage protocol that allows its members to join and share risk. Members are empowered to purchase cover products that protect against various kinds of risks, including staking penalties like slashing. By leveraging their infrastructure, our clients can conveniently access cover, underwrite risks, manage claims, and build resilient risk management strategies through Chorus One.
How does it work?
Nexus Mutual’s tokenised cover permits Chorus One to acquire coverage for various digital assets, represented as ERC-721 NFTs. They offer transparent and auditable claims assessment, which can be accessed by anyone through the Nexus Mutual protocol on Ethereum. Storing data on-chain allows anyone to review Nexus Mutual’s history of claim decisions and payouts.
Unlike traditional insurance, claims are processed in a matter of days and payouts are redeemable as soon as a claim has been approved. Nexus Mutual provides an enhanced claims experience for our customers by eliminating the need for third-party involvement or delays. Additionally, the protocol is designed to reward honest behaviour and penalise fraudulent activities. Learn more about the claims design and how Nexus Mutual protects against fraud protection in their documentation.
What is slashing?
Proof-of-Stake (PoS) networks offer immense growth potential for blockchain transactions. However, not all PoS networks are equal, and they introduce new responsibilities and risks for token holders. One such risk is slashing, which involves penalising validators who engage in dishonest or inactive behavior on the network. Slashing can take different forms, such as losing a predefined percentage of a validator's stake or being completely removed from the network for the current epoch or permanently.
At Chorus One, we recognise the severity of such circumstances. That’s why our robust, on-chain coverage forms an integral part of our comprehensive risk management strategy, aiming to protect all of our clients. Stay tuned for an upcoming article where we will delve further into staking penalties and Chorus One's proactive risk management practices.
"When staking your ETH, even with the best technical set-up and expertise, mistakes can happen and slashing can occur. The most professional operators recognize this and put in place protection for their users. We're excited to work with Chorus One to make staking your ETH safer." - Hugh Karp, Founder, Nexus Mutual
"At Chorus One, security holds the utmost importance as we deeply value the trust and peace of mind it brings to investors. As responsible node operators, we prioritise establishing a solid foundation of trust with our investors, ensuring the safety of their assets. Through our partnership with Nexus Mutual, we aim to offer comprehensive protection against potential asset loss arising from staking penalties." - Vic Kaul, Business Development Lead, Chorus One
About Nexus Mutual
Nexus Mutual is a decentralised insurance alternative built on the Ethereum blockchain and the leading provider of crypto-native coverage. To date, Nexus Mutual members have protected more than $4.4b in crypto assets and have paid out $17.9m in claims. The mutual was created to give people a way to hedge against the unique risks in on-chain markets.
Learn more about Nexus Mutual by visiting nexusmutual.io.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
We're proud to announce that Qredo, a premier self-custody protocol and platform, has joined forces with Chorus One to expand staking accessibility for investors. From seamless staking to enhanced security measures, this partnership aims to empower users with a secure and efficient staking experience.
What is Qredo?
Qredo offers institutions and traders a secure way to store assets while maintaining complete control. Through their unique distributed multi-party computation (dMPC) technology, users can confidently take custody of their own digital assets and readily engage with the DeFi ecosystem on a trusted, institutional-grade platform.
Stake to Chorus One through a Qredo Wallet
As part of the partnership, Chorus One's OPUS users can now directly stake and unstake multiple crypto tokens through Qredo Wallets. This eliminates the complexities associated with managing multiple wallets and platforms, making staking more accessible to a broader range of investors.
Key benefits of staking with Chorus One for Qredo customers:
The Qredo-Chorus One partnership garners strengths of both entities, empowering investors with a seamless and secure staking experience. By combining Qredo's innovative self-custody solutions with Chorus One's expertise in institutional staking, individuals and institutions can confidently participate in staking activities while maximizing their rewards and maintaining full control over their assets.
"Chorus One's OPUS shines brilliantly in the realm of staking. The potential to simplify staking for both individual investors and institutions is truly remarkable. We look forward to complementing OPUS with our secure self-custody solution, and firmly believe that this collaboration will bring immense value to our shared customers."
– Josh Goodbody, Chief Operating Officer, Qredo
"Qredo's robust self-custody solution is a valuable addition to OPUS. This partnership strengthens the security foundation of OPUS, empowering our customers to enjoy a frictionless and secure staking experience. We are truly excited about this partnership and the continuous collaboration between Chorus One and Qredo's products."
– Vic Kaul, Business Development Lead, Chorus One
To learn more about OPUS and how to get started, visit: https://chorus.one/staking-api-opus
About Qredo
Qredo is a leading provider of institutional-grade digital asset self-custody solutions. The company's distributed multi-party computing (dMPC) technology provides a secure and regulated environment for users to store, transfer, and manage their digital assets.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
Chorus One is proud to announce the launch of Red Horizon; a new way to interact with your Urbit server, identity, and community.
Red Horizon is built on an open source project that redesigns the internet from the ground up. The main thesis is that the way the current technology of IP addresses, DNS, and other elements of the present-day internet create massive problems that can only be addressed by MegaCorps that are just as massive (and flawed) in scale.
We all benefit from the ease of using these MegaCorp services at the expense of our privacy, data ownership, and "black box" interference of our connections.
Instead of relying on MegaCorp server farms, what if it was easy enough to run your own personal server? What if you didn't have to search for a new user name? What if you didn't have to deal with spam? What if you didn't need to pass a CAPTCHA test ever again? What project could ever make that happen?
Urbit. It's more than a profile. It's a Turing complete computer with an identity baked in at its lowest levels and it talks to other computers just like it. This creates a truly decentralized and private peer to peer network of computers. It is a complete reimagining of the internet, it works today, and it is getting easier to use every day.
Mostly.
While it is relatively straight forward to run Urbit compared to running your own Linux servers, anyone who wants to use it still needs a fair amount of technological skill that is beyond the average MegaCorp user.
That's where Red Horizon enters the picture.
Our mission is completely removing the technical skills required to use Urbit so people can get to the good stuff right away. That includes a permanent identity that nobody can ever revoke; a toolkit for building communities around groups, interests, chats, blogs, and more; decentralized program distribution; contact management; and more tools built every day.
We keep your Urbit server up and running 24/7. You can access it from your phone, your laptop, or desktop computer through a browser. With a simple log-in you can access all your groups, your chats, write articles, and build your community without having to figure out any of the "how does this work" stuff going on behind the scenes.
If you ever want to run things yourself, then you can take over at any time. Since the Urbit server is entirely code-based, we can get it to you, and you're now the total owner and operator of your own data and network. Exit is always an option. That's one of our core principles.
And that comes from experience. Our parent company, Chorus One, is a major player in the institutional crypto scene since 2017. Chorus One has managed millions of dollars through bear markets, bull markets, crypto winters (too many to count), and remained steadfast through it all. Chorus One remains a trusted steward and leader of high stake investments which is why they are the perfect company positioned for this person-to-person level project, too.
That is why we have already partnered with several of the most promising projects in the space including Uqbar which is focused on developing blockchain-integrated development tools for the Urbit environment. We are also working with Native Planet, which is dedicated on making at-home hosting hardware accessible to people. Vaporware Network is working tightly with us to help bring their vision of high-leverage NFTs to the market. And, finally, we are building a strong relationship with the Urbit Foundation to get more developers into the world of Urbit.
Our waitlist is now live at redhorizon.com. You can also find our Urbit group at ~doldys/red-horizon, and follow our Twitter @redhorizonhost for the latest updates.
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
The first half of 2023 has been marked by a flurry of captivating events in the crypto sphere, and we have only just begun to scratch the surface of what lies ahead for the remainder of the year. Rest assured, as The Spotlight curates the finest selection of staking news each month.
But that's not all. In May, we were highly productive, engaging in exciting projects and concocting a wealth of crypto knowledge. This newsletter serves as your exclusive invitation to delve into the plethora of developments we pursued last month, ensuring you remain well-informed and up-to-date. Moreover, as believers in a global crypto community, we're always on the move. So, find out where our team will be in June below!
1. Ledger by Chorus One: Securely stake your tokens via the Ledger Live App
With Ledger’s extended compatibility with the Cosmos ecosystem, over 1.5 million Ledger Live users can now stake numerous tokens including Onomy, Quicksilver, Persistence, and more through nodes operated by Chorus One. Read all about it here.
2. Lido upgrades to V2 mainnet
After a successful governance vote, liquid staking protocol Lido upgraded to its second version, enabling users to unstake their stETH and receive ETH at a 1:1 ratio. We’ve captured everything you need to know about why this is significant here.
3. The number of staked ETH hit its all time high since Shapella
The amount of staked ETH continued to grow since the advent of Shapella upgrade, having surged by a mighty 4.4M since withdrawals were enabled. We’ve explained why this trend is likely to continue here.
4. $700m staked ETH shifts away from centralised exchanges
Regulatory concerns and the allure of higher rewards prompt investors to flock to decentralised liquid staking protocols, leaving traditional exchanges in the dust. Read all about it here.
OPUS
We’re proud to announce that our multi-chain staking solution, OPUS, is now live and running! OPUS allows our customers to stake with utmost ease, and earn maximum rewards while having complete control over their nodes. OPUS also comes with a range of features that optimise the staking experience for our customers. Read all about it here.
Ledger by Chorus One
We’re delighted to be partnering with Ledger Live to support their extended compatibility with the bolstering Cosmos ecosystem. This partnership permits a larger number of crypto investors to stake Cosmos tokens on the Ledger Live App through nodes operated by Chorus One. More on this here.
Recently, our Chief Commercial Officer, Felix Lustch, was joined by Ledger’s Global Head of Client Success Lila Garcia and Anchorage Digital’s Head of Product, Boaz Avital to explore future trends in the staking frontier. They had an insightful discussion, covering topics including the latest advancements in staking infrastructure, regulatory movements, and risk management in crypto. If you missed it, feel free to watch the recording here.
Stake SUI with Chorus One
SUI Network is the latest network to join the ranks of networks supported by Chorus One. After three testnet waves, Sui launched their Mainnet this month, and we're proud to support the growth of the network as one of the genesis validators. Our blog delves into the unique characteristics of the Sui network and explains how you can start staking SUI with Chorus One. Read it here.
Gelato x Chorus One
Chorus One has partnered with Gelato Network as one of the genesis node operators for GEL staking! We participated in a number of discussions exploring this partnership and the future of GEL staking, which you can hear here.
Fordefi x Chorus One
We’re proud to announce our partnership with Fordefi, a leading MPC wallet platform and web3 gateway, facilitating Chorus One’s customers to stake and unstake multiple tokens using the Fordefi wallet inside OPUS. Full details here.
1. Quarterly Insights
Our research team produces an in-depth analysis of the industry's biggest trends every quarter. We published the first edition of 2023’s quarterly insights, which covers:
Read the full report here.
2. Beyond Shapella
Ever since the Shapella upgrade, the influx of institutional interest in ETH staking has been remarkable. Our blog delves into the reasons behind this trend and why we expect this trajectory to continue. Read it here.
3. A guide to Lido V2
Lido upgraded to its V2 Mainnet - making stETH withdrawals possible for its users, and paving way for a more decentralised future to the Ethereum network. We covered everything you need to know about this upgrade, and why it’s so significant. Read it here.
4. Key takeaways - the evolution of Shared Security
Shared Security is a method aimed at enhancing the safety of a blockchain by leveraging resources from other blockchains. Several PoS networks adopt shared security as a strategy to fortify their blockchain's security while introducing new use cases. Our article provides a clear overview of how shared security has evolved and offers concise explanations of its implementation across various PoS networks. Read it here.
June 1-2 | Crypto Valley Conference | Rotkreuz, CH
The Chorus One team will be attending the Crypto Valley Conference on June 1-2, in Rotkreuz, CH. If you’re attending, look out for one of our team members including Meher Roy, Tomas Matta, Rakesh Bhagloe, Neal Roche, or Michael Moser to discuss what we’re currently working on, or to address any questions you may have about staking.
Also, if you’re attending, don’t miss out on the tax roundtable that Rakesh Bhagloe from our Finance team will be participating in alongside industry professionals from KPMG, MME, and Safe to discuss how VAT is treated in DLT transactions.
To register, visit: cryptovalleyconference.com
June 3-5 | Gateway Conference 2023 | Prague, CR
Join our Partnership Manager, Yannick Socolov, as he shares his insights on the secrets of building thriving and enduring Web3 communities at 3.30pm on June 5th.
To register, visit: https://gateway.events
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
We’re proud to announce our partnership with Fordefi, a leading MPC wallet platform and web3 gateway that enables institutions to seamlessly connect to dApps across networks, while securing their digital assets. This partnership facilitates Chorus One’s OPUS customers to stake and unstake multiple tokens using the Fordefi wallet inside OPUS.
The Fordefi wallet
Fordefi’s wallet is a secure solution designed to provide enhanced security and privacy for users' digital assets through MPC (Multi-Party Computation) technology. The MPC wallet employs a distributed key generation process, where each key share is created separately and is held by different parties. This ensures that no single entity has access to the complete private key, mitigating the risk of single points of failure or attacks.
Additionally, Fordefi's wallet provides users with enhanced security against various attack vectors, including private key theft, collusion attacks, and web attacks.
Going forward, Chorus One’s OPUS users will be able to stake and unstake across numerous chains using Fordefi’s wallet, thus leveraging its security features.
OPUS
OPUS is Chorus One’s universal staking solution that allows institutions to stake quickly across multiple chains and earn high rewards while having complete control over their assets. It is aimed at expediting institutions' staking activities, streamlining the staking process, and enabling them to enjoy the benefits of higher rewards, increased efficiency, reduced costs, and unparalleled flexibility.
Key Benefits of using OPUS
“Fordefi's cutting-edge DeFi-focused wallet empowers institutions to stake with unparalleled confidence, fortified by advanced layers of security. Together, we’re committed to making staking accessible for a broader audience.” - Felix Lutsch, Chief Commercial Officer, Chorus One
“Chorus One’s expertise in the industry offers a new level of staking excellence for our institutional customers. We’re thrilled to empower our users with seamless access to staking and unrivaled opportunities in DeFi. ” - Josh Schwartz, CEO and Cofounder, Fordefi
About Fordefi
Fordefi’s MPC wallet platform and web3 gateway enables institutions to seamlessly connect to dApps across networks, while keeping digital assets secure. Fordefi is the first institutional wallet and security platform purpose-built for DeFi. Fordefi was founded in 2021 by crypto custody and cybersecurity experts, and designed in close collaboration with crypto industry-leading trading firms, funds and custodians. Fordefi’s mission is to enable institutions to securely hold digital assets and safely transact in decentralized finance.
About Chorus One
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures.
We’re proud to announce our partnership with Ledger, the global security platform for digital assets and NFTs.
Ledger has extended its compatibility with the Cosmos ecosystem, and Chorus One will be supporting this integration by providing our validator services, allowing over a million Ledger Live users to leverage the bolstering Cosmos ecosystem. Going forth, Ledger Live users will be able to stake numerous Cosmos tokens, including Onomy (NOM), Quicksilver (QCK), Persistence (XPRT) and more through nodes operated by Chorus One.
This collaboration with Ledger Live aligns with our mission to provide seamless and secure staking services while empowering individuals with financial sovereignty.
“We are thrilled to partner with Chorus One, a trusted leader in the Cosmos ecosystem. Their deep expertise in the space makes them an invaluable partner for any entity looking to integrate staking operations into their product lines. With their extensive knowledge and experience in various Cosmos networks, we are confident in their ability to provide our users a secure and reliable staking solution. Through this collaboration, we are excited to empower our users with full control over their assets and the ability to seamlessly stake across multiple chains.” - Charles Guillemet, Chief Technology Officer, Ledger
Staking your Cosmos tokens through Ledger Live app offers you the opportunity to earn competitive staking rewards while keeping your assets secure via self-custody. By choosing to stake through Ledger, you can enjoy multiple benefits, including:
Chorus One and the Cosmos Ecosystem
Chorus One has been a major driving force behind the growth of the Cosmos ecosystem, having made substantial contributions to it. We are deeply committed to projects that we strongly believe in and have invested and acted as a steward for a variety of Cosmos networks, including Quicksilver, Onomy, Axelar, and many others. With our extensive experience and in-depth understanding of the unique requirements of each network, we have honed our expertise in the interchain.
Currently, our research team is working on a comprehensive report that delves into the implications of MEV on dYdX v4 and aims to provide clarity into how MEV is likely to impact trading flow and execution ahead of the migration, enabling validators to make more informed decisions. To learn more about the report, visit: https://www.dydxgrants.com/grantees/chorus-one
To underscore our unwavering commitment to the Cosmos ecosystem, we released a comprehensive governance report last year, which shed light on validator participation, voting trends, and controversial proposals within the interchain. You can find the report at https://chorus.one/reports-research/governance-in-cosmos.
Furthermore, our team is deeply involved in the Cosmos community. Brian Crain, our CEO, serves on the board of the InterChain Foundation, and our Chief Investment Officer, Xavier Meegan, actively participates in the ATOM Accelerator DAO.
"Bringing non-custodial staking on Cosmos networks to millions of Ledger users is a significant milestone for Chorus One and the Cosmos ecosystem, and we are excited to continue our mission of providing seamless and secure staking services that align with Ledger’s values of empowering individuals with financial sovereignty. We believe that this collaboration will enable many more individuals to leverage the benefits of the burgeoning Cosmos ecosystem, and look forward to working closely with Ledger to make this a reality." - Brian Fabian Crain, Chief Executive Officer, Chorus One
Watch our webinar with The Block!
Last week, we collaborated with The Block to present a webinar featuring our Chief Commercial Officer, Felix Lutsch, alongside Lila Garcia from Ledger Enterprise and Boaz Avital from Anchorage Digital. Together, they engaged in an insightful discussion on the future of staking, covering significant topics circumferencing institutional staking, including regulatory developments, risk management, and staking infrastructure.
To watch the recorded webinar, please follow this link: https://youtu.be/AoMR3UyM7Eg
Since We Last Spoke…
Last year, we introduced OPUS, a staking dashboard and API designed to expedite institutional staking activities. We are proud to announce that OPUS is now live and running! In this article, we delve into what OPUS is, why we built it, and how it benefits our customers.
Diving Deeper
Over the past five years, we have developed extensive expertise in staking through conducting in-depth research on numerous emerging and existing PoS networks, as well as working closely with institutions interested in introducing staking services into their product lines.
Through our experience, we noticed a significant gap in the ecosystem - the absence of a simple, ready-to-use interface that streamlines the staking process and enables institutions to enjoy the benefits of higher rewards, increased efficiency, reduced costs, and unparalleled flexibility. That's why we built OPUS, a hassle-free API that allows users to stake digital assets across multiple chains on a single platform and earn the highest possible rewards while retaining complete control over their funds. Institutions can choose to stake their own assets using OPUS or provide staking services to their customers, creating a new opportunity for revenue generation.
OPUS’ Features
Institutions' needs can vary widely, and setting up staking operations often requires specific technical capabilities. After months of research, we developed OPUS to offer a range of customizable features that cater to all.
Highest Rewards and Tracking
Staking is one of the easiest and least risky ways to earn rewards on your cryptoassets. However, tracking rewards across multiple networks can be a cumbersome process.
To combat this, OPUS features an intuitive, user-friendly interface that enables users to track real-time rewards data for multiple assets on a single dashboard. Additionally, OPUS offers the highest staking rewards, which include network emissions, transaction fees, and MEV (maximal extractable value).
With just a few clicks, users can earn rewards and download detailed reports on their staking rewards at any time, while retaining unparalleled transparency and control over their assets.
Exclusive Research and Network Expertise
As a leading staking provider, we recognize that every network has its specific staking needs. Therefore, we offer customized solutions to simplify the process for our clients. We closely collaborate with networks during their early stages, providing expert advice on tokenomics, staking, and best practices. This collaboration helps our clients achieve faster time-to-market, infinite scalability, and enables staking on multiple networks with minimal setup time.
We also provide institutional customers a dedicated account manager who provides updates and support to ensure a seamless staking experience. Additionally, we offer free access to ALPHA, our on-demand research and consulting service, to all our customers.
“Partnering with us means gaining access to a team of seasoned industry professionals who are dedicated to helping you navigate the ever-evolving landscape of staking.” - Felix Lutsch, Chief Commercial Officer, Chorus One
Guaranteed Exit Strategy
We understand that risk management is a top priority for our clients, and that they must have faith in us as a staking provider to prevent penalties that could result in severe consequences. We take this responsibility seriously and have implemented several industry-leading measures to safeguard our customers in the unlikely event of a slashing occurrence. In fact, we’re proud to say that Chorus One has never been subject to a slashing penalty in our history.
To protect customers from downtime/slashing risks, we have implemented various measures, including:
Proactive Key Management Solutions
We use Hashicorp Vault, a secure and dependable storage solution, to encrypt all keys both during transit and at rest. Access to the keys is carefully regulated through meticulously configured Vault Policies, guaranteeing that only authorized validator pods and organizations can access them. Moreover, our Signer strictly adheres to security protocols to ensure that private keys are only accessible during the load process.
Higher Flexibility
We prioritize decentralization and strive to create efficient products that benefit everyone in the long run. Our culture is built on collaboration, innovation, and excellence, which means that we work closely with clients and partners to deliver transformative staking solutions that drive success in the Web3 space. We value user feedback and will continuously improve OPUS to better meet the staking needs of our clients.
Governance
At Chorus One, we take governance seriously. As one of the most active validators on Cosmos and other networks, we prioritize network integrity through on-chain participation. To provide utmost transparency, we will showcase our governance proposals on the OPUS dashboard for all our customers to see.
Getting Started with OPUS
Getting started with staking ETH through OPUS is extremely easy and usually consists of the following steps:
Our customer support (staking@chorus.one) team will be available to guide you throughout the entire process, which should not exceed 2 days.
Here's an informative walkthrough of OPUS in action:
OPUS is a highly customizable solution, allowing users to tailor their staking strategies to their specific needs and preferences. Whether you're a seasoned investor looking to optimize your staking rewards, or a new entrant to the space looking to get started, OPUS has all the tools and resources you need to successfully participate in staking and earn the highest rewards.
“We’re thrilled to launch OPUS - the universal API that’s pioneering the staking experience across multiple chains. With OPUS, our customers enjoy seamless integration and simplified staking processes, saving valuable time to market. Moreover, our technology brings well-structured rewards data right to your fingertips, enabling every user to maximise their earning potential” - Meher Roy, Co-Founder and Chief Technology Officer, Chorus One
To learn more about OPUS or book a demo, contact staking@chorus.one
Chorus One is one of the biggest institutional staking providers globally operating infrastructure for 40+ Proof-of-Stake networks including Ethereum, Cosmos, Solana, Avalanche, and Near amongst others. Since 2018, we have been at the forefront of the PoS industry and now offer easy enterprise-grade staking solutions, industry-leading research, and also invest in some of the most cutting-edge protocols through Chorus Ventures. We are a team of over 50 passionate individuals spread throughout the globe who believe in the transformative power of blockchain technology.
