May 16, 2022

Moonstake groups with RockX to expand Polkadot (DOT) staking

3 min read

Moonstake, a staking swimming pool network, today announced it has entered into a tactical partnership with Singapore-based RockX to support the Polkadot ecosystem. RockX intends to establish 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 in 2015, Moonstake’s mission is to produce the biggest staking network in Asia. Moonstake has actually developed both web wallets and mobile wallets (iOS/Android) supplying staking services. After a full-scale operation released in August 2020, Moonstake’s total staking properties proliferated to reach USD 50 million. By December, staking properties grew to USD 100 million. Currently, Moonstake has over USD 200 million in staked assets.

In January of this year, Moonstake revealed the assistance of staking Polkadot’s cryptocurrency in Moonstake’s Wallet. DOT is a leading 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 provides risk-adjusted crypto financial investment for the masses and enables users to intensify their crypto holdings through mining, staking, and other DeFi items. Just recently, RockX revealed 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 task, will be provided along with technical support.

Polkadot is a next-generation blockchain procedure linking several specialized blockchains into one unified network. Polkadot is the flagship task of Web3 Foundation, the world’s leading blockchain structure founded by Ethereum co-founder and former CTO Dr. Gavin Wood. In addition to Dr. Wood, other essential members include Dr. Aeron Buchanan, previous Head of European Operations at Ethereum, and Reto Trinkler, co-founder of Melonport.

As of January 2021, 63% of the overall supply or $6 billion of DOTs have been staked given that Polkadot’s mainnet introduced in May 2020. The rate of DOT, the native token of Polkadot, and a cross-chain protocol for data and possession interoperability has risen more than 40% in December 2020 after two self-confidence votes by Binance, the largest crypto exchange by area 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. Progressing, we believe our partnership with RockX will enable us to mark a new page in the Asian staking industry. And we are positive that we can support the ever-growing Polkadot ecosystem together. Welcome RockX to our staking collaboration family.”
– – Mitsuru Tezuka, Founder at Moonstake

Dr. Alex Lam The partnership likewise 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 ending up being a world leader in staking innovations. Moonstake and RockX will continue to press the limits together to enhance access to blockchain services and focus even more on the development of our Polkadot ecosystem.”
– – Alex Lam, CEO & & Founder at RockX” Moonstake teams with RockX to expand Polkadot (DOT) staking