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CryptoCompare, Blockdaemon Release Staking Yield Indexes
The Staking Yield Index Family will help investors create more informed investment strategies, according to the companies.
Updated Apr 10, 2024, 2:06 a.m. Published Sep 28, 2022, 4:08 p.m. 1 min read
CryptoCompare, a data provider, unveiled a new group of staking yield indexes with blockchain infrastructure platform Blockdaemon.
The goal is to help investors develop more informed investment strategies, the companies said on Wednesday.
The Staking Yield Index Family will enable institutions to gain off-chain exposure to staking yield measures and annualized daily staking rewards on decentralized finance platforms, according to a press release.
The indexes will measure the annualized daily staking yield generated by a digital asset, allowing institutional investors to create return and yield swap products.
The index group will feature five individual gauges that capture the annualized daily staking yield of the top performing proof-of-stake (PoS) digital assets, according to the company: Solana, Avalanche, Cardano, Cosmos and Polkadot.
PoS blockchains stake their digital asset holdings to a validator node to secure and strengthen the blockchain network.
ETC Group, a European institutionally focused digital asset manager, was a key driver for the development of the launch and will be the first licensee, according to the press release.
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Fund manager Michael Kramer says a $150 billion liquidity drain from upcoming U.S. Treasury operations could push bitcoin sharply lower.
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- Michael Kramer of Mott Capital Management warns that upcoming U.S. Treasury operations could drain about $150 billion in liquidity, potentially deepening bitcoin's price selloff.
- He argues that bitcoin acts as a leading liquidity indicator and has already broken key support near $75,000 amid an 11% pullback from recent highs.
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