Happy New Year stakers! 🍾
With Christmas and the New Year’s Eve now in the rear view mirror, it’s time to fully embrace everything that 2024 has in store. Something tells us this will be a year to remember!
In this edition of the New Epoch, buckle up for a status report on the most important StakeWise developments of the past month & beyond:
👶 Arrival of StakeWise V3
🎖️ StakeWise OG POAP drop
📈 Early data from V3 release
📣 osETH EigenLayer integration
📝 Plans and priorities for 2024
Without further ado, let’s begin! 🥂
“A wizard is never late, […] he arrives precisely when he means to” 🧙
A long stretch of anticipation and stillness finally came to a close when StakeWise V3 landed on November 28th 👶
Pioneering an open marketplace of staking offers 🛒 and an overcollateralized liquid staking token called osETH 🛡, V3 extends access to liquid staking to solo operators, node running organizations, wallets, and exchanges.
V3 also maintains the focus on security, stability, and yield — the qualities that you hopefully associate with StakeWise since starting to use our platform. 🤝
To quickly get the gist of the cool new capabilities of StakeWise, look no further than our refreshed home page 👉 https://stakewise.io.
Do you like it? Is something amiss? Don’t be shy to give us your feedback on our Discord! 🎙
A POAP of honour 🎖
The migration to StakeWise V3 has been really fast — at this time, close to 70% of the stake has been migrated to the new protocol. A whopping 50% has been migrated in the first week alone! 🏎️ 💨
To the users who have migrated swiftly — your agility and continued support are nothing short of exceptional, and are dearly appreciated.
To eternalize your coolness & commemorate the occasion of a historic upgrade, we invite you to claim the StakeWise OG POAP!
PS. it’s a super limited edition! 😎
Note that only the users who migrated before Dec 4th and continued staking with the platform by December 31st are eligible to claim the POAP.
Claim your POAP here 👉 https://www.poap.delivery/stakewise-ogs-2023
Crunching the numbers 🤓
Enough of the prose — show us some juicy stats! 🧃
Here is what has been achieved in the ~35 days since the StakeWise V3 launch:
New deposits: 12,160 ETH
Migrated: 65,090 ETH
Unstaked: 21,836 ETH
Current StakeWise TVL: 84,965 ETH (excl Solo)
Number of Vaults with at least 1 validator: 24
osETH APY: 3.40%
osETH liquidity breakdown: $39M on Balancer, $83K on Uniswap, $13.5M on Curve
Average daily osETH trading volume (7D): $400K
Current osETH supply: 30,043 osETH
Revenue earned from osETH: 3.3 osETH
Total StakeWise DAO Treasury: ~400 ETH + 339,585,000 SWISE
Data as of January 3rd. 🧐
Blink and you’ll miss it 🌠
The holiday season kicked off on in earnest on December 18th when osETH was integrated into EigenLayer, one of the fastest growing applications on Ethereum. 🚀
EigenLayer restaking is poised to become the hottest 🔥 narrative in 2024 thanks to its potential to increase native staking yields.
Emerging applications are expected to utilize EigenLayer as means to tap into staked ETH security, offering stakers some rewards in exchange. Of course, there is also a rumour of an EigenLayer airdrop, although nothing was confirmed by its team. 🙊
Following the integration, StakeWise users could contribute osETH to EigenLayer in exchange for early access to restaking yields when EigenDA goes live, and accumulate Restaked Points along with the usual ETH staking rewards. Over 15,000 osETH has been restaked, taking advantage of the massive opportunity! 🚀
Note that this window of opportunity lasted only 14 days, much like the holiday lights. The 500K ETH cap on the restaking of LSTs in EigenLayer has been quickly reached by January 3rd, which means that new osETH holders will need to wait until the cap is lifted again to deposit. 🧢
We will alert you about this opportunity once it emerges again ✨
The year of dragon 🐉
With the strong foundation that is StakeWise V3 in place, our DAO must decide on the next priorities for the protocol and its tokenholders in 2024.
In the list of possible contenders:
📊 SWISE tokenomics
🔗 V3 rollout on Gnosis Chain
🏗️ Restaking readiness
🆕 New Vault types
Based on the messages exchanged in Discord & Telegram servers, we would think SWISE tokenomics is the ultimate priority for our community. You can find early discussion about it in the Discord community forum.
Do not hesitate to contribute your ideas and voice your opinion on the options being debated! We look forward to contributions from all SWISE holders. 🤝
StakeWise makes staking ETH simple and secure! Pool ETH with others or go solo — no matter how you stake, you stay liquid with osETH, our liquid staking token.
Find the best way to stake ETH 👉 https://stakewise.io
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