BREAKING NEWS! has been acquired by VC firm Morningstar Ventures. Read More

$4,580.61 -4.59%
ETH · 56w

Harmony ONE staking to become the first DSLA-backed staking experience

Earn rewards for protecting ONE staking deposits against staking risks

This post has been adapted from the official Harmony announcement on Medium.

If you do not want to operate your own Harmony node to earn staking rewards, you can outsource this task to a third-party staking and validation service. But while delegating your ONE tokens is easier than validating Harmony blocks yourself, it exposes you to the potential bad behaviour and the unfulfilled reliability promises of your validator.

This might lead you to missing rewards because of downtimes, and losing a fraction of your staking deposit because of double-sign slashing penalties. That’s where DSLA comes in.

As you know, DSLA Protocol is a new DeFi initiative that aims at solving this dilemma, and mitigating protocol violations, by adding a decentralized insurance layer on top of the staking activity of proof-of-stake blockchain networks.

By combining an onchain alternative to third-party outsourcing contracts called service level agreements, and programmable cryptocurrency payouts, DSLA Protocol enables anyone to effortlessly hedge against staking risks, and passively earn rewards for protecting staking deposits.

DSLA Protocol (DSLA) x Harmony (ONE)

On September 30th 2020, DSLA core developers are organizing an incentivized beta to validate the functional, performance, reliability and security assumptions of the decentralized application that integrates DSLA Protocol, before tentatively launching both products on the mainnet on November 30th 2020. Beta participants will be rewarded using DSLA tokens with actual market value.

Harmony is the first proof-of-stake blockchain network to be officially supported by the DSLA protocol during the DSLA incentivized beta, and for the upcoming mainnet.

Our teams will join forces to make staking ONE tokens rank amongst the safest and mos...

Continue on
Recent news
ETH -4.59% · · 10h

Facebook retreats from crypto ad ban

Facebook on Wednesday announced its decision to reverse long-standing policy that prevented most cryptocurrency companies from running ads on its services.