Enabling institution’s off-chain exposure to staking yield. Measures daily annualized staking rewards of Avalanche, Cardano, Cosmos, Polkadot, Solana.
— Konstantin Richter- CEO & Founder, Blockdaemon
LOS ANGLES, CA, UNITED STATES, September 28, 2022 /EINPresswire.com/ — CryptoCompare, the global leader in digital asset data and FCA-authorised benchmark administrator, and Blockdaemon, the leading institutional-grade blockchain infrastructure company for node management and staking, today announced the launch of their industry-first family of Staking Yield Indices which enable more informed and sophisticated investment strategies in a regulated and secure environment.
The CryptoCompare Blockdaemon Staking Yield Index Family is designed to measure the annualized daily staking yield generated by the digital asset, allowing institutional investors to create total return and yield swap products, benchmark portfolios, conduct research, and more. The Index Family will initially feature five regulated indices that capture the annualized daily staking yield of the top-performing PoS digital assets: Avalanche, Cardano, Cosmos, Polkadot, and Solana.
“The CryptoCompare Blockdaemon Staking Yield Indices have created a new standard for digital asset investment products, overcoming the limitations faced by traditional indices, which do not capture any staking rewards, generated by the underlying cryptocurrency,” said Charles Hayter, CEO and Co-Founder of CryptoCompare. “These new innovative indices remove this hurdle, opening the door for new market participants while giving investors a vehicle by which they can easily gain exposure to the opportunities provided by staking.”
Participants of Proof-of-Stake (PoS) blockchains delegate – or stake – their digital asset holdings to a validator node to further secure and strengthen a blockchain network while being rewarded with staking rewards for doing so. Currently, billions of dollars are staked across the digital asset ecosystem, which have been ignored by traditional index products until now.
“These indices further exemplify our ability to deliver new and innovative institutional solutions using our proven, widely adopted staking infrastructure,” said Konstantin Richter, CEO and Founder of Blockdaemon. “By utilizing the CryptoCompare Blockdaemon Staking Yield Indices, pivotal real-time and historical data allows institutional investors and network participants to have access to crucial insights to make key performance-driven decisions.”
ETC Group, the leading institutionally focused digital asset manager in Europe, was a key driver of the development of this suite of independent benchmarks and will be the first to license the Staking Yield Index Family for a series of products planned for Q4 2022.
“We see this as a vital step to providing better access to institutional investors into the digital assets marketplace,” said Tim Bevan, ETC Group Co-CEO, adding, “Transparent, independent benchmark data provides the reference points required to navigate successfully and with confidence.”
The CryptoCompare Blockdaemon Staking Yield Index Family taps the proprietary yield calculation methodology of CC Data Limited for certain proof-of-stake digital assets. Each featured cryptocurrency has a unique yield calculation methodology and implementation.
The initial five indices are:
CryptoCompare Blockdaemon Cardano Staking Yield Index
CryptoCompare Blockdaemon Solana Staking Yield Index
CryptoCompare Blockdaemon Avalanche Staking Yield Index
CryptoCompare Blockdaemon Cosmos Staking Yield Index
CryptoCompare Blockdaemon Polkadot Staking Yield Index