On July 10th, Odaily and BlockBeats co-hosted StakingCon - the Staking Ecological Conference. In the roundtable forum of "Staking Market Expansion - New Traffic, New Gameplay, New Challenges", Bitpie Partner Wang Chao and imToken Chief Security officer blue, NGC StakeX director Cai Yan, Fundamental Labs managing partner Howard Yuan, DDEX COO Bowen Wang, and Wetez promoter Ka Baa expressed their views respectively.
Wang Chao, a partner of Bitpie, believes that wallets are currently not making money in POS. Wang Chao said that Bitpie has two businesses, one is the B-end, which provides services for industry projects. From the C side, Bitpie will not do staking for the sake of staking, because at present there are many gaps between user groups, for example, some users’ coins are mainly stored in exchanges. From a large ecological point of view, if a certain project is worthy of investment, Bitpie will invest in all aspects and provide the entire ecological support. In this process, the wallet will definitely obtain macro commercial benefits.
blue, chief security officer of imToken, said that the current POS ecosystem does not make money, and node operation does not make money. The reason may be that many POS public chains have not developed so fast, and their own development is still not perfect. The market should give more time for the development of the POS public chain. Blue believes that only with the improvement of the public chain ecology and the rise of the currency price, the currency obtained by the node income will be more valuable, and the economic feedback of the node will also be more, and node operation will naturally be a profitable business. Regarding the participation of ordinary users in staking, users actually make money mainly by buying and selling coins, not staking. Due to mortgage reasons, users have increased risks in a market with rapidly changing currency prices.
Cai Yan, head of NGC StakeX, mentioned that the ecological mechanism is recognized, so there will be so many people participating in Staking now. Exchanges and wallets have users and tokens, so they are naturally suitable for the Staking track. For some projects, Staking is a new entrepreneurial opportunity. For NGC StakeX, looking at Staking from the perspective of investment logic, as a node to participate in the project, you can have a deeper understanding of the project. Compared with retail investors, institutions have the advantage of being able to deeply participate in certain projects. The consensus mechanism is actually a three-party game among users, nodes, and project parties. The core depends on how the project party treats its own project and consensus mechanism, and whether it is confident that its own mechanism can ensure the normal operation of the project.
Howard, managing partner of Fundamental Labs, said that staking is the 2.0 of traditional mining, and he remains optimistic about the staking value of the PoS public chain for a long time. Investment institutions pay more attention to the inherent ecological value of the project. Whether there are many people joining the pledge also determines the security of the network. As for the public chain, the problem of the low income of PoS projects is because the overall volume of the current PoS ecology is not large enough. At the same time, Howard mentioned that as an investment institution, he is more willing to support high-quality PoS projects for a long time, and does not pay too much attention to short-term benefits. If you want to compare the staking mechanisms of several well-known PoS projects, Howard said that the mechanism settings of Polkadot and Cosmos are relatively reasonable.
DDEX COO Bowen Wang believes that decentralized exchanges need to monitor data on the chain and synchronize block status, which is a natural node operator. PoS is relatively distributed, and everyone can vote. Staking is a sense of community participation for retail investors. Everyone can express their opinions. This form allows more people to understand and participate. Now, the cost of maintaining nodes is actually relatively high. At present, PoS will not be a profit point for short-term verification nodes. Comparing several well-known PoS projects, it cannot be said which project’s mechanism is more reasonable. The setting of the PoS consensus mechanism is actually a compromise between performance, security, block generation time, and block size.
Kaba, the founder of Wetez, said that the POS business of the wallet does not make money. At present, he is very pessimistic about the ecology of Staking nodes. Some nodes hope to squeeze other nodes by relying on subsidies. This is very bad and goes against the original intention of distributed. The ecology of staking nodes should be a long-term ecological development, and we hope that the nodes can develop soundly in the long run.
