imToken Partners With InfStones To Launch In-Wallet ETH2.0 Staking

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.

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.

Leadership Comments 

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.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however, no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the cryptocurrency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal, or accounting advice.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal, and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like

Bitmain Wants Millions via Lawsuit against Ex-Staffers Who Are Founders of Rival Mining Pool

Investing in cryptocurrency has become such a lucrative business that there is…

SEC Charges a San Diego Man with Fraudulently Obtaining $3.5 Million via a Crypto Mining Scam

The SEC recently revealed that it had charged a San Diego man…

Crypto Mining Gains Recognition In Iran

Photo sourced from Pixabay Cryptocurrency mining is officially being recognized as an industry…

Crypto Mining Farms Gaining Traction as Iran Currency Crisis Looms. Government Clamps Down

Photo Cred To Vilson Frangaj Via Flickr Iran has faulted an uncommon upsurge…
Famous Hollywood Actress Invests In Bitcoin Mining

Famous Hollywood Actress Invests In Bitcoin Mining

American Actress Gwyneth Paltrow has invested in the Terawulf Bitcoin mining operation.…

Surge in Volume: Mining Bitcoin is No Longer Business as Usual

With the recent hype surrounding the most popular cryptocurrency- Bitcoin, its mining…
Nvidia Will Restrict Crypto Mining In New Graphics Cards

Nvidia Will Restrict Crypto Mining In New Graphics Cards

Nvidia plans to ship out its RTX 3060 graphics cards with software…

Understanding Miner Capitulation And Why It Can Cause Bitcoin Sell-Offs

If you are an ardent follower of happenings in the crypto market…
Bitcoin Mining & PC Gaming From One Computer

Bitcoin Mining & PC Gaming From One Computer

Bitcoin mining tends to be popular among pc gaming enthusiasts. This is…
CleanSpark Believes Its Bitcoin Mining Costs Will Be Among The Lowest In The USA

CleanSpark Believes Its Bitcoin Mining Costs Will Be Among The Lowest In The USA

CleanSpark, a technology solutions company, provided an update on its acquisition of…