Newsletter 001
Welcome to the first edition of Liquid Collective Newsletter, your monthly resource for the latest Liquid Collective news and alpha, updates from the liquid staking industry and L1 ecosystems, events, and more.
Congratulations to the entire Liquid Collective community on the protocol's launch of LsETH this week on Coinbase Prime and Bitcoin Suisse. This milestone represents a first for the liquid staking industry: a diverse group of competitors and collaborators coming together to successfully launch a distributed, institutional-grade liquid staking standard. Here's to many more milestones to come! Read on for the latest news, data, and resources from Liquid Collective.
From the Collective
Now Live: ETH Liquid Staking with Liquid Collective
Liquid Collective, a decentralized enterprise-grade liquid staking protocol, is now live for Ethereum staking on Coinbase Prime and Bitcoin Suisse. Instead of just holding your ETH, you can hold LsETH, a liquid staking token programmatically minted by the protocol, to receive ETH network rewards for helping to secure the Ethereum network—without sacrificing liquidity.
Read more about the launch and how to participate in our announcement post.
What are Liquid Staking Tokens (LSTs)?
Liquid Staking Tokens (LSTs) like LsETH are an important technological innovation allowing participants in proof of stake networks to access liquidity while staking.
We covered LST features, the latest advocacy work from POSA, and why LSTs are an important innovation in our latest Learn post.
The need for a liquid staking standard
As liquid staking grows in popularity, the need for a composable, decentralized, and secure liquid staking standard has emerged. Liquid Collective, which is a decentralized liquid staking protocol developed in collaboration with a broad and dispersed diverse group of industry leaders, was built to meet this need for a liquid staking standard.
Learn more about how a liquid staking standard can support the web3 ecosystem here.
Upcoming events
Paris Blockchain Week: March 20 - 24 2023- Representatives from Liquid Collective members, including Alluvial, Kiln, Coinbase Institutional, and Bitcoin Suisse, will be attending Paris Blockchain week. Reach out to each team for information on how to connect to learn more about Liquid Collective!
Ecosystem news
- A new Ethereum standard, ERC-4337, enabling ‘smart accounts’ via account abstraction, was announced at WalletCon during ETHDenver. Read more here.
- Originally slated for mid-March, Ethereum developers announced that the Shanghai Upgrade, which includes enabling staking withdrawals on Ethereum, has been pushed to early April. Read more here.
- The Proof of Stake Alliance published the first legal research and analysis on Liquid Staking Tokens (LSTs) addressing the regulatory and tax considerations of liquid staking in the United States. Read more here.
- Bitcoin Suisse announced joining Liquid Collective to offer liquid staking to their clients as a member of the independent collective of leading web3 teams building and running the protocol. Read more here.
- Acala engineers released a new open-source client for testing, that mimics the mainnet conditions of any Substrate-based network. Read more here.
- Rome Blockchain Labs announced joining The Blockchain Association to advocate for blockchain, liquid staking, and DeFi technology. Read more here.
Liquid Collective by the Numbers
- Total Deposited ETH: 898.25 ETH
- LsETH Conversion Rate: 1 LsETH = 1.00627 ETH
- Total Reported Validator Balance Sum: 284.32 ETH
- Total Reported Validator Count: 12 validators
All data is accurate as of March 7, 2023. View real-time onchain data here on Dune.
Please note
LsETH users may still be subject to slashing losses. If slashing losses were to occur, they would be socialized pro rata for all LsETH user's starting with earned but unredeemed network rewards.
Liquid staking via the Liquid Collective protocol and using LsETH involves significant risks. You should not enter into any transactions or otherwise engage with the protocol or LsETH unless you fully understand such risks and have independently determined that such transactions are appropriate for you.
Any discussion of the risks contained herein should not be considered to be a disclosure of all risks or a complete discussion of the risks that are mentioned. The material contained herein is not and should not be construed as financial, legal, regulatory, tax, or accounting advice.
