Multi-chain staker and validator P2P.org announced its Staking-as-a-Business service for institutional players.
A press release from the startup said its total value locked (TVL) surpassed $7.4 billion, and P2P.org has over one million staked Ether (ETH). The company now offers Staking-as-a-Business (SaaB) to bootstrap growth for businesses like custodians, crypto exchanges, and wallet providers.
P2P.org‘s Head of Product, Artemiy Parshakov, said the holistic support for a full-stack staking suit facilitates confidence for businesses wading into expanded defi services.
“Our approach goes beyond the conventional vendor-client relationship. We are fully invested in the success of our partners, even offering marketing budgets to support their launch. This end-to-end support covers business, legal, marketing, and customer service.”
Artemiy Parshakov, P2P.org’s head of product
The firm’s offering comes a year after raising $23 million in funding from venture capitalists like Jump Crypto. Since then, P2P.org’s TVL has grown 395% from $1.4 billion noted in last year’s first quarter.
Staking’s allure
P2P.org provides SaaB services on Ethereum and 35 other decentralized networks like Kusama and Solana, as participants diversify strategies to extract value from crypto’s ecosystem.
Staking involves locking up digital assets to earn yield or passing income without liquidating the crypto tokens. It’s a feature of proof-of-stake (PoS) blockchains like Ethereum that equips crypto investors with additional utility.
The practice has become increasingly popular since Ethereum’s PoS upgrade in 2022. According to Coinbase, Ethereum’s staking market cap is over $110 billion, as users have staked over 26% of the token’s available supply.
Reward ratios slightly differ per platform, but users can earn up to 3.76% APR by leveraging major providers. Participants may also earn extra income and flexibility by tapping services like Lido Finance or liquid restaking protocols like Ether.fi.
Source link