CryptoCompare, Blockdaemon Release Staking Yield Indexes

The Staking Yield Index Family will help investors create more informed investment strategies, according to the companies.

AccessTimeIconSep 28, 2022 at 4:08 p.m. UTC
Updated Sep 28, 2022 at 4:26 p.m. UTC

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

CryptoCompare, a data provider, unveiled a new group of staking yield indexes with blockchain infrastructure platform Blockdaemon.

The goal is to help investors develop more informed investment strategies, the companies said on Wednesday.

The Staking Yield Index Family will enable institutions to gain off-chain exposure to staking yield measures and annualized daily staking rewards on decentralized finance platforms, according to a press release.

The indexes will measure the annualized daily staking yield generated by a digital asset, allowing institutional investors to create return and yield swap products.

The index group will feature five individual gauges that capture the annualized daily staking yield of the top performing proof-of-stake (PoS) digital assets, according to the company: Solana, Avalanche, Cardano, Cosmos and Polkadot.

PoS blockchains stake their digital asset holdings to a validator node to secure and strengthen the blockchain network.

ETC Group, a European institutionally focused digital asset manager, was a key driver for the development of the launch and will be the first licensee, according to the press release.

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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.