Launching on ETH mainnet in 2019, Ankr is a decentralised infrastructure provider in Web3. It focuses on early-stage cloud calculation and blockchain node deployment in an economically efficient way. Recently, instead of developers and institutions as their main target audience, Ankr expanded its business scope to serve retail. Apart from offering API endpoints, Gaming SDK, Ankr AppChains and running RPC nodes, staking solutions including liquid staking & delegated staking have become the new highlight for the protocol.
Liquid staking tokens are shown in the form of ankrX (e.g. ankrAVAX, ankrETH, etc.). They are reward-bearing tokens representing the staked asset plus all future staking rewards. The number of ankrX does not grow, but the value of each token will increase over time as staking rewards accumulate.
Apart from staking rewards, stakers can benefit from the transaction fees from liquidity pools on DEXs, farming rewards, and manual compounding. A 0-5% commission fee is charged from rewards, depending on the token.
In Ankr 2.0, Delegated Staking gives users the right to choose from a larger range of validators (i.e. Ankr-owned node providers & various node providers supporting Ankr Network 2.0) to stake with, where anyone that meets certain criteria can stake to become a node.
30% of the revenue goes to the Ankr Treasury which is managed by the DAO, 21% is allocated to the self-stake pool (node provider), and the remaining 49% goes to the staking insurance pool (individual stakers).
Market Cap: ~$288m
Figure 1: Ankr Stats, Source: Greythorn Research Team, Data: CoinGecko
1. Total Supply: 10,000,000,000 ANKR
2. Circulating Supply: 9,662,899,378 ANKR (97%, ~2% burnt)
3. Tokenomics Distribution
* ICO: Sep. 2018. 100% of tokens had been unlocked by Aug. 2022.
Ankr is a Web3 infrastructure provider that offers staking solutions such as liquid staking and delegated staking. Its AnkrX tokens provide stakers with rewards, transaction fees, farming rewards, and manual compounding. Ankr's governance token plays a central role in the new decentralised Ankr Network, and the potential growth of node infrastructure may increase following the Shanghai Upgrade. Despite limited superiority to fellow liquid staking tokens and negative PR from the Ankr exploit in 2022, Ankr has managed to earn itself a spot within the top 10 LSD protocols.
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