Everstake and Simply Staking To Power the Shared Privacy Shielded Pool as Staking Delegates At Hinkal
Overview:
Hinkal partners with Everstake and Simply Staking as Staking Delegates for Cross-Chain Shared Privacy. These are the two largest staking providers as of now, and we are honored to have them joining Hinkal’s ecosystem to enhance privacy in DeFi. Let’s unleash this partnership and all the benefits it will bring to the users of Hinkal dApp.
How does the Shielded Pool work?
In shielded pools, each participant enhances the overall anonymity by adding their assets. This collective effort makes it harder to trace individual transactions, benefiting everyone involved. Basically, it’s a win-win structure where Stakers receive rewards (yield) for contributing assets to the pool, and Users benefit from the privacy of transactions, enabled by the shielded pool. The crucial thing for Stakers and Staking Delegates is that the tokens will be staked on the Hinkal Smart Contract with no slashing conditions and receipt composable h-tokens (hETH, hUSDC, hUSDT, hWBTC, hstETH). Stakers maintain full self-custody over the underlying collateral.
Why are Staking Delegates important?
A Staking Delegate plays a crucial role in DeFi by facilitating the staking process. In the case of the shielded pool - a privacy-enhancing technology used in blockchain - each participant contributes to the overall anonymity set by adding their assets to the pool. The larger the anonymity set, the harder it is to trace any individual transaction. Therefore, Staking Delegates play a significant role here, by effectively increasing the size of this anonymity set and providing anonymity to all Hinkal’s users.
Our First Staking Delegates
Everstake and Simply Staking are two prominent companies in the blockchain industry, each contributing significantly to the staking ecosystem.
Founded in Ukraine, Everstake is one of the largest staking providers in the blockchain industry and the leader in terms of the number of delegators, trusted by over 735,000 users. It uses enterprise-level hardware to run nodes for the most popular blockchain networks since 2018. Everstake also creates complex blockchain products, such as lending protocols, staking pools, blockchain bridges, and marketplaces.
"We are excited at the opportunity to make our contribution to enhancing shared privacy at Hinkal. Freedom and decentralization have always been at the core of our business philosophy, and we are glad to be a part of this wonderful effort." - Sergey Vasylchuk, CEO of Everstake
Simply Staking is a reputable blockchain infrastructure provider that focuses on secure and decentralized staking services. Operating since 2018, it has now grown to over $1B+ in Assets Staked with them. The company is based in Malta, where it manages its own Tier 3 data center, ensuring maximum privacy and redundancy without reliance on third-party cloud services. By using its robust infrastructure, the company is also a leader in the RPC space, providing data across most major networks.
Summary
Overall, Staking Delegates earn rewards by contributing to the Shared Privacy shielded pool, while Stakers benefit from passive income without needing to manage their own assets. This system encourages broader participation in Hinkal’s ecosystem, enhancing privacy and decentralization.
Hinkal is thrilled to welcome Everstake and Simply Staking as strategic backers of the Shared Privacy framework, as well as invite other companies to join.
Check out the Board of Curators that we announced earlier in our blog.
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