As we’re drawing closer to Ethereum’s highly-anticipated ETH 2.0 upgrade and the transition to a proof of stake (PoS) mechanism, interest in staking crypto is growing.
Tosdis builds on Ethereum’s core concepts of open-source and decentralization to offer interoperability across chains and remove barriers to mass adoption. As more and more crypto projects are now utilizing cross-chain technology, we are paving the way to an interconnected blockchain environment.
As exciting as the new update to the Ethereum blockchain is because it will allow staking of ETH, it will not eliminate some of the network’s limitations. This is where Tosdis comes in.
Flexible, cross-chain staking
Our new protocol combines a flexible staking mechanism for any ERC-20 token as well as provides cross-chain token staking on our decentralized platform. The unique mechanism of Tosdis means we are able to offer Staking-as-a-Service to dozens of platforms — Polkadot, Binance, Chainlink, Tron, Ethereum. EOS, etc — across our web-based and wallet staking platforms.
We are introducing Tosdis EasyStake, which is a fair and affordable staking mechanism for all. Built on smart contracts-based staking for all ERC20 tokens initially, we will alter expand to include other chains, such as Polkadot, BSC, Tron and more. With Tosdis, projects will be able to allow their holders to stake tokens in return for staking rewards in the project’s respective cryptocurrency.
Tosdis is a new DeFi project, which combines the power of Staking as a service and Liquid staking for POS coins. In this way, we’re combining the best of both worlds — allowing crypto investors to stake their PoS digital assets via Tosdis EasyStake while we take care of the technical aspect of the staking process and the benefits of liquid staking. In this manner, users can stake any asset for a variety of blockchains against the TosdiS token, which they can use in the interim as their assets are frozen thus making whatever assets are currently staked, liquid.
By staking assets across multiple chains, investors will earn entirely new tokens. This effect will allow users to stake tokens and assets of one type to receive them as block rewards in the form of an entirely new token.
Tosdis will support a host of new blockchain-based projects with cross-chain Multi-Bonded Proof of Stake (MBPoS). This essentially means that our platform will allow staking in different crypto assets and commodities across multiple chains. This expanded cross-chain interoperability will vastly improve the opportunity for investment in the crypto sector.
We view the deployment of Multi-bonded Proof of Stake technology as crucial for unlocking the full potential of blockchain. The protocol and decentralization of Tosdis offer a more secure, stable staking mechanism than was ever previously possible, and with access to greater liquidity too.
Cross-chain interoperability is a potential solution to the growing pressure on the Ethereum network. By supporting staking Ethereum, ERC-20 and multiple other smart contracts on the Tosdis network, we are opening a new gateway to DeFi.
The path to full decentralization and blockchain interoperability
Thanks to Tosdis’ transformative technology, we can finally decentralize the last mile of blockchain projects’ tech stack (remove their on-chain dependencies), leverage the full power of cross-chain composability and tap into the huge source of interchain liquidity. Last but not least, Tosdis will also gain access to users from all supported chains who will find immense value in using our staking mechanism to earn rewards.
The Tosdis protocol introduces a disruptive solution to address the key shortcomings of existing blockchain and DLT-based infrastructures, and to enable interoperability in every corner of the ecosystem, from fragmented and incompatible blockchains to upcoming CBDCs. Via the multi-chain staking mechanism, Tosdis also provides additional utility to users, CBDCs and accompanying institutions.