Cryptocurrency may be in a harsh winter, but when some people see challenges, others see opportunities. Instead of focusing on the market situation, the team at Luganodes chooses to focus on building solutions that add more value to the technology.
Read on to learn more about their story and how they are currently working on becoming one of the market's most advanced institutional-grade staking service providers.
Luganodes is a Swiss-based institutional-grade staking service provider born out of the Lugano Plan B program and intends to become a pioneer of decentralized infrastructure. The Lugano Plan B program is a joint initiative between the City of Lugano and Tether to accelerate the use of and leverage blockchain technology as the foundation to transform the city’s financial infrastructure.
Proof-of-Stake (PoS) consensus-based blockchains have validators instead of miners. Validators are servers (nodes) running blockchain software responsible for adding new blocks to the blockchain. Validation is a complex undertaking, requiring adherence to technical standards, accuracy of technical execution, operational robustness, and performance efficiency. Sub-par validators can face hefty monetary penalties (slashing) and exclusions from networks entirely. Luganodes takes away the operational and technical challenges from institutions to run, manage, and maintain validator nodes in a safe, compliant, and efficient manner.
Very early in its journey, Luganodes through its persistent investments in operational excellence and efficiency has won the trust and support of various PoS communities including Cardano & Polygon. Currently, Luganodes is the world’s fastest-growing staking provider with over ~$500 million worth of staked assets and live on 10+ PoS networks. Luganodes performance is evidenced by measurable operational KPIs on live networks, for instance on the Cardano network Luganodes has 100% uptime with no missed blocks. This has gathered the trust of various institutional investors propelling Luganodes into a top 5 provider.
Luganodes provides 100% Non-Custodial staking services, meaning the ownership of your funds belongs to you. However, when you stake your tokens, you are committing them to a certain protocol or network and agreeing to participate in the operation and maintenance of that network. This often involves locking up your tokens for a certain period of time, during which they cannot be transferred or used for other purposes. The length of time that you must lock up your tokens can vary depending on the specific staking protocol and the terms of the staking arrangement.
In some cases, you may be able to unstake your tokens before the end of the lock-up period, but this may involve paying a penalty or incurring other costs. It is important to carefully review the terms of any staking arrangement before participating, to understand the potential risks and rewards.
Q: What are the supported blockchain protocols? Any upcoming protocols that you will support in the pipeline? How do you choose them?
Luganodes currently supports 10+ PoS Networks, including Polygon, Tron, Cardano, Solana, Cosmos, etc. Upcoming: Zilliqa, Aptos, Radix and many more.
Our criteria for picking a network:
Luganodes is an institutional-grade staking service provider, we have designed our products and services to cater to the needs of institutions such as banks, VCs, exchanges, and Hedge Funds. We take pride in our robust security and industry standard measures to provide a smooth, secure, and easy staking experience for our clients.
All you need is a wallet with cryptocurrency to participate in staking with us and to start earning rewards. This said we do complete due diligence from our side as well to ensure the safety and staking experience for all our clients.
Luganodes is currently B2B focused and is trusted by 230+ delegators and 5+ institutions such as VCs, banks and exchanges who have delegated $500mn worth of assets with us. We have clients from all over the world.
We have a clear vision for our company and have specific goals that we hope to achieve in the next 5 years.
As institutional interest in staking has increased rapidly in the past few months, there will be an urgent need for tools to integrate staking into their platforms with ease. To this end we plan to release SDKs which combine staking services, analytics and wallet functionality in a few lines of code which will further the adoption of staking for our institutional clients.
We also plan to release a staking as a service API which will automate the process of setting up smart contracts to enable staking. Along with staking itself, this presents tremendous opportunities such as MEV and other TradeFi strategies which can be leveraged on the PoS networks.
To give our users actionable insights, we are currently working on a staking dashboard which gives our institutional clients a comprehensive view of their staked positions across multiple networks with features such as tax reporting and reward statistics.
We are already on-track to achieve milestones from our roadmap as we currently have close to 500 Million USD delegated. This is possible through our deep commitment towards decentralization and security when it comes to node operations be it through the use of bare metal servers or custom in house tools to spin up secure nodes in a single click.
To achieve these goals, we'll be investing in research and development, building partnerships and collaborations with other projects, and establishing ourselves as the top #1 trusted provider in the market.