A Message from Stefan — An Update on Trusted Node
Monday, May 16, 2022
Trusted Node Community,
TERRA LUNA DISASTER
Last week was easily the craziest I’ve experienced in crypto since I first joined the space back in 2012.
More importantly, here’s its impact on Trusted Node (TNode):
For a variety of reasons, Terra $LUNA and its stablecoin UST tanked in spectacular, historic fashion.
TNode stakers have 1,169,599 $LUNA staked.
To protect/recover this investment, please follow and participate in LFG governance proposals, found here: https://agora.terra.money (https://agora.terra.money/t/proposal-tiered-repayment-1-1-usdc-refund-to-all-ust-holders-up-to-a-certain-cap-per-wallet-using-lfg-funds-favouring-small-wallets/6471)
Despite a diversified portfolio strategy, TNode treasury is indeed impacted to the magnitude of 880 staked LUNA with a 14% yield and 330,000 UST at 19% APY on Anchor.
We are actively doing our part and voting and participating in the community, working to recover the funds.
We continue to believe in the vibrant and strong crypto ecosystem and we will do what we can to support our community.
On a positive note, TNode has been super busy making progress towards building the next-generation staking hub and validator network.
TRUSTED NODE SOLDIERS ON
Here is what to expect:
Our DAO Escrow, forked off the CRV model, is in the middle of a security audit with Kudelski. This fee sharing feature allows users to stake their TNode in timed vaults. The longer users commit to the DAO in our escrow the greater their revenue share and the stronger their voting rights on Trusted Node’s important decisions.
Enhancing $TNODE utility, we are also going to introduce newly developed Paid Premium features which are payable in $TNODE next month that will further simplify the user experience including compounding rewards, claiming multiple rewards, and storing transaction histories.
Liquid Staking is a long-awaited feature we are close to sharing with the TNode community, allowing users to mint synthetic assets on their staked yield bearing assets. These synthetic assets allows users to interact with new DeFi partners all the while continuing to receive their staking rewards. Your staked funds are #safu with our staking partner Hex Trust.
Finally, our Trusted Node Ecosystem has had remarkable growth by adding a few more blockchain networks including Metis, Rocketpool, Cellframe, Nodle, Velas, Picasso and Oak while adding additional wallet support.
We continue to explore new business opportunities with very interesting partners in order to involve RPC and XRM services as well as integrating our staking services into other related services.
WE ARE STRONG, GETTING STRONGER
The implosion of the LUNA ecosystem has had a significant impact on the competition. The silver lining for TNode is we’ve been developing and preparing targeted marketing initiatives which we’ll soon be rolling out.
We’ve developed content and interactive programs to increase our community’s DeFi knowledge with greater insights into passive income.
To strengthen our community with our existing partners, we are organizing joint AMAs and co-marketing campaigns while exploring new and different marketing collaborations with our wallet and ecosystem partners.
The TNode team will participate IRL at some of the upcoming major crypto and fintech conferences, including Consensus DCentral in Austin, Texas.
As the TNode network, products, partners and team has grown, we are making sure this is reflected on our new website, providing our users with improved navigation and experience in our app along with a fresh new brand, look, and feel for TNode.
As we release and expose these features to the market, the community and users beginning to experience these benefits should accentuate the value of $TNODE. We have started negotiations with some tier2 and tier3 centralized exchanges, exploring the opportunity of capturing this momentum with an intention to list $TNODE.
I hope this sheds some light on the work that is going on in the background. Action says more than a thousand words. We believe in the TNode community and thank you all for your continued support.
Please leave comments you might have below. We will always consider your views and see how we can best deliver on them.
Founder Trusted Node