{"id":188794,"date":"2021-04-29T23:00:10","date_gmt":"2021-04-29T22:00:10","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=188794"},"modified":"2022-07-24T23:47:50","modified_gmt":"2022-07-24T22:47:50","slug":"american-university-appropriates-4-million-for-staking-3-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/american-university-appropriates-4-million-for-staking-3-cryptocurrencies\/","title":{"rendered":"American university appropriates $4 million for staking 3 cryptocurrencies"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The University of <\/span><a href=\"https:\/\/cryptoslate.com\/places\/wyoming\/\"><span style=\"font-weight: 400;\">Wyoming<\/span><\/a><span style=\"font-weight: 400;\">, one of the oldest and largest schools in the <\/span><a href=\"https:\/\/cryptoslate.com\/wyoming-takes-another-step-become-cryptocurrency-capital-america\/\"><span style=\"font-weight: 400;\">state of Wyoming<\/span><\/a><span style=\"font-weight: 400;\">, U.S., has appropriated over $4 million towards staking \u2018no less than' three cryptocurrencies, an official document showed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cState of #Wyoming appropriated $4m for nodes\/staking in at least 3 cryptocurrencies, run by Univ of Wyoming. This kickstarts (the) program where gains from this pool, if matched by private donations, go to fund UWyo,\u201d pointed out Avanti Bank founder Caitlin Long in a tweet.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">NEWS NOT REPORTED YET: State of <a href=\"https:\/\/twitter.com\/hashtag\/Wyoming?src=hash&ref_src=twsrc%5Etfw\">#Wyoming<\/a> appropriated $4m for nodes\/staking in at least 3 cryptocurrencies, run by Univ of Wyoming. This kickstarts  program where gains from this pool, if matched by private donations, go to fund UWyo! <a href=\"https:\/\/twitter.com\/rothfuss?ref_src=twsrc%5Etfw\">@rothfuss<\/a> ???<a href=\"https:\/\/t.co\/LDul3iGtS4\">https:\/\/t.co\/LDul3iGtS4<\/a> <a href=\"https:\/\/t.co\/KxFVm5YhLp\">pic.twitter.com\/KxFVm5YhLp<\/a><\/p>\n<p>&mdash; Caitlin Long ? (@CaitlinLong_) <a href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1387232109937397765?ref_src=twsrc%5Etfw\">April 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><b>Staking cryptocurrencies\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As per the filing, the so-termed \u2018University Staking Program\u2019 has appropriated $4 million for\u00a0<\/span><span style=\"font-weight: 400;\">strategic investments and projects account to the University of Wyoming to operate and maintain nodes and staking pools for not less than three publicly tradable cryptocurrencies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201c<a href=\"https:\/\/cryptoslate.com\/cryptos\/proof-of-stake\/\">Staking<\/a>,\u201d for the uninitiated, is a consensus design for blockchains where all transactions are validated by network stakers based on the amount of (the network\u2019s respective) cryptocurrency they hold. Stakers are paid out a \u2018reward\u2019 for locking up their funds towards the network\u2019s great good\u2014which has emerged as a \u2018passive\u2019 investing strategy for many in crypto circles.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And the university wants in on that technology. \u201cThe university shall only expend funds appropriated under this section in accordance with a final, approved. The university shall provide public access to the staking pools and nodes and facilitate the operation of the <\/span><span style=\"font-weight: 400;\">blockchains,\u201d noted the release.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The filing said that all fees and revenues generated from the operation of the nodes and staking pools shall be first used to cover the costs of \u201coperation and administration.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The remaining, however, would be deposited in the strategic investments and projects account up to a maximum amount of $4 million. Furthermore, the expenditure of these funds would be conditioned upon a match of funds in the ratio of 1:2 from the university's reserve accounts or from any private entity donating funds towards the purpose.<\/span><\/p>\n<h2><b>Who\u2019s heading it?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As such, the initiative would be headed by the co-chairmen of the select committee on blockchain, the Wyoming chief investment officer, three members appointed by the governor with relevant expertise in cryptocurrencies, and one additional member appointed by the president of the University of Wyoming.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But don\u2019t get your hopes too high just yet, as the filing remains a proposal for now and is subject to approval. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe plan shall be submitted to the cryptocurrency advisory council for review and, after review, shall be submitted to the governor for approval,\u201d reads the document.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, it's a move that is iconic for Wyoming. The state has, in recent times, opened up to the prospect of cryptocurrencies and blockchain technology in a big way, going as far as proposing the <\/span><a href=\"https:\/\/cryptoslate.com\/this-u-s-state-could-legally-recognize-ethereum-daos\/\"><span style=\"font-weight: 400;\">legalization of decentralized autonomous organizations (DAOs)<\/span><\/a><span style=\"font-weight: 400;\"> in the state. Quite the cyberpunk dream if you were to ask me.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The University of Wyoming, one of the oldest and largest schools in the state of Wyoming, U.S., has appropriated over $4 million towards staking \u2018no less than&#8217; three cryptocurrencies, an official document showed. \u201cState of #Wyoming appropriated $4m for nodes\/staking in at least 3 cryptocurrencies, run by Univ of Wyoming. This kickstarts (the) program where [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":188806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,77923,37],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>American university appropriates $4 million for staking 3 cryptocurrencies<\/title>\n<meta name=\"description\" content=\"The University of Wyoming has appropriated over $4 million towards staking \u2018no less than&#039; three cryptocurrencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/american-university-appropriates-4-million-for-staking-3-cryptocurrencies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American university appropriates $4 million for staking 3 cryptocurrencies\" \/>\n<meta property=\"og:description\" content=\"The University of Wyoming has appropriated over $4 million towards staking \u2018no less than&#039; three cryptocurrencies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/american-university-appropriates-4-million-for-staking-3-cryptocurrencies\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-29T22:00:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-24T22:47:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/04\/university-of-wyoming.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/american-university-appropriates-4-million-for-staking-3-cryptocurrencies\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/american-university-appropriates-4-million-for-staking-3-cryptocurrencies\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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