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• Former Telecom experts Dittrich and Schrader have been working for Finoa since May
At Finoa, the two experts have set up a new liquid intervention department (Finoa Consensus Services).
• The new department is collaborating with StakeWise and wants to “prepare the crypto space for future regulation”.
About six months ago, Andreas Dittrich and Daniel Schrader left Deutsche Telekom’s Blockchain Solutions Center, according to CoinDesk. It has now become known that the two experts have been working for the crypto depository company Finoa since May and helped find the new Finoa Consensus Services department there.
Finoa’s liquid operations department works with StakeWise
CoinDesk quotes Dittrich, head of the new Finoa division, as follows: “It was great to work for Deutsche Telekom [ ] but the speed with which you can move things in a company like Finoa is really huge. ”
Finoa’s division has been working with StakeWise since the end of May to work on building an infrastructure to support Proof-of-Stake (PoS) networks. StakeWise already offers liquid staking on the Ethereum blockchain and is working to improve the associated infrastructure.
we #holdbygningstrive to make #cryptoactive more productive. And we’re doubling the networks we believe in. That is why we join @stakewise_io floating staking platform as operator on @EthereumNetwork pic.twitter.com/CXxeL8qQGp
– Andreas Dittrich (@mopsko) May 24, 2022
Finoa is sure: Liquid staking will be widespread in a few years
With cash efforts, investors can make their deposited tokens negotiable by injecting them into a protocol that bets for them, BTC-ECHO explains. The protocol retains a small portion of the stake reward as payment in return for passing on cash stake tokens to investors. These tokens give full right to the inserted tokens, with the addition of automatic generation of bet rewards.
“We think liquid staking will be on every single PoS network out there in a year or two. It may be new at the moment, but in the future it will be widespread. [
] “It does not work without fluid intake,” Dittrich told CoinDesk.
Telekom is now also collaborating with StakeWise
Finoa also expects that there will be regulations in the area of liquid staking, as liquid staking is becoming a financial service: “We must be ready for institutional customers who actively support PoS networks and at the same time do more with their capital So we prepares the cryptocurrency for future regulation. ” Regarding the collaboration with StakeWise, the press release states: “We are pleased to announce that we have entered into a partnership with StakeWise to become the operator of the ETH liquid insert platform. As part of this partnership, Finoa will become a validator node operation in the Ethereum mainnet and Gnosis Chain [ ]”
In fact, Finoa is not the only StakeWise partner, rather a large number of other companies are also working with StakeWise to expand the infrastructure for liquid betting – including Deutsche Telekom. Dittrich has so far left this uncommented on his Twitter channel.
We are pleased to welcome Deutsche Telekom’s @TSystems_MMS application to become a member of StakeWise as a Node Operator on Ethereum mainnet🏆
A public company running nodes for Ethereum? The tide is determined by changing 🌊
Support T-Systems’ application on our forum: https://t.co/PUZyVt1roA https://t.co/Dxy85qmniz
– StakeWise (@stakewise_io) May 19, 2022
Gearing must be between 2 and 20
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