Moonstake, a staking pool network, today announced it has entered into a strategic partnership with Singapore-based RockX to support the Polkadot ecosystem. RockX aims to develop the Polkadot ecosystem. It not only runs its own Polkadot’s node, but in September, launched a USD 20 million five-year investment program.
Founded last year, Moonstake’s mission is to create the largest staking network in Asia. Moonstake has developed both web wallets and mobile wallets (iOS/Android) providing staking services. After a full-scale operation launched in August 2020, Moonstake’s total staking assets grew rapidly to reach USD 50 million. By December, staking assets grew to USD 100 million. Currently, Moonstake has over USD 200 million in staked assets.
In January of this year, Moonstake announced the support of staking Polkadot’s cryptocurrency in Moonstake’s Wallet. DOT is a top 5 cryptocurrency by market cap. After Cosmos, IRISnet, Ontology, Harmony, Tezos, Cardano, and Qtum, DOT became the 9th available coin on Moonstake Web Wallet.
RockX is a digital assets platform that offers risk-adjusted crypto investment for the masses and allows users to compound their crypto holdings through mining, staking, and other DeFi products. Recently, RockX announced that they launched a USD 20 million investment program for the Polkadot ecosystem. The funding, capped at a maximum of USD 500,000 worth of DOT tokens per project, will be provided alongside technical support.
Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Polkadot is the flagship project of Web3 Foundation, the world’s leading blockchain foundation founded by Ethereum co-founder and former CTO Dr. Gavin Wood. In addition to Dr. Wood, other key members include Dr. Aeron Buchanan, former Head of European Operations at Ethereum, and Reto Trinkler, co-founder of Melonport.
As of January 2021, 63% of the total supply or $6 billion of DOTs have been staked since Polkadot’s mainnet launched in May 2020. The price of DOT, the native token of Polkadot, and a cross-chain protocol for data and asset interoperability has risen more than 40% in December 2020 after two confidence votes by Binance, the largest crypto exchange by spot trading volume and placing it at ranking 5 cryptocurrencies by the market cap.
“We are very pleased to partner with RockX, one of Polkadot’s world’s leading node operators. Moving forward, we believe our partnership with RockX will enable us to mark a new page in the Asian staking industry. And we are confident that we can support the ever-growing Polkadot ecosystem together. Welcome RockX to our staking partnership family.”
– Mitsuru Tezuka, Founder at Moonstake
The partnership also includes the appointment of RockX’s CEO Alex Lam as an official advisor to Moonstake.
“We are pleased to be partnering with Moonstake who is fast becoming a world leader in staking technologies. Moonstake and RockX will continue to push the boundaries together to improve access to blockchain services and focus further on the growth of our Polkadot ecosystem.”
– Alex Lam, CEO & Founder at RockX