Infinity Stones has entered into a partnership with imToken. The deal will see InfStones, the world’s biggest blockchain infrastructure provider for digital tokens and crypto coins working with imTokens, one of the most popular Ethereum wallets with over 10 million users. They plan to offer support for in-wallet ETH2 staking services.
Details Of The Partnership
According to the official announcement, users of imToken can stake ETH for ETH2 via their mobile wallet to earn ETH rewards. Users of the imToken wallet service will be able to confirm the balance, status, performance, and profitability of the validator in their mobile wallet at any time. They can also independently participate in the maintenance of the ETH2 networks while receiving around 8.5% interest generated from stable returns.
Today is the day! We are excited to announce that we have partnered with @imTokenOfficial and launched the in-wallet #Eth2 staking service. We're honored to provide key infrastructure support on this exciting project! Full details in the link below: https://t.co/M7gl0qPBbh
— InfStones (@infstones) May 11, 2021
The service is one of the first and, no doubt, the most robust in-wallet ETH staking services. InfStones will offer users of imToken the same level of node management and infrastructure support they offer to some of the leading names in the blockchain and crypto space. The company already works with companies such BitGo, Binance, Circle, and many others. Via the partnership, InfStones will offer support for validator nodes created by imToken users. They will be in charge of ensuring the stable operation of these nodes.
According to the CEO and founder of imToken, Ben He, they were pleased to be working with InfStones to offer users of the wallet the staking service. He noted that:
“They are a great infrastructure provider that brings the 32ETH staking-as-a-service feature, with a long track record of safety and professionalism.”
Discussing the partnership, the founder and CEO of InfStones, Zhenwu Shi, was equally upbeat. He said that the company was dedicated to eliminating the entry barriers into the crypto space. According to Shi, the partnership with imToken would offer users better access allowing them to stake ETH for Eth2 directly. Shi added that
“This is a great practice, allowing millions of users to directly use enterprise-level infrastructure services. The combination of imToken’s superior key management tools and InfStones’ unparalleled infrastructure services is the best Eth2 staking solution in the market to date.”
What Is ETH2 Staking?
ETH2 staking is the result of the upgrade to the Ethereum network, which led to the launch of Ethereum 2.0. The goal of the upgrade was to improve the security and scalability of the network. The final goal is to shift the current mining model to a staking model. Staking is a popular process of participating in transaction validation via a proof-of-stake blockchain.
There is currently around 4,428,910 ETH staked. The current APR is at around 7.4%. Anyone who owns ETH can stake their coins and there is no minimum amount requirement. However, there is a maximum of 32ETH, which is set to ensure that securing the network does not become monopolized and centralized. It is worth noting that the APR is always in flux. The reason for this is to encourage users to secure the network. When little ETH is being staked, the protocol reward increases to encourage more people to stake their ETH. When there is a lot of ETH staked, the reward is lowered.
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