SINGAPORE, Jan 19, 2021 – (ACN Newswire) – Moonstake has entered into a strategic partnership with Singapore-based RockX to support the Polkadot ecosystem. RockX aims to develop the Polkadot ecosystem. It not only runs its own Polkadot's node, but in September, launched a USD 20 Million five-year investment program. Through this partnership, Moonstake and RockX will accelerate the spread of Polkadot in the blockchain industry through staking.
Moonstake started in the staking business last year with the aim to create the largest staking network in Asia. Moonstake has developed both Web wallets and Mobile wallets (iOS/Android) providing staking services. After a full-scale operation launched in August 2020, Moonstake's total staking assets grew rapidly to reach USD 50 Million. By December, staking assets grew to USD 100 Million. Currently, Moonstake has over USD 200 Million in staked assets.
In Jan of this year, Moonstake announced the support of staking Polkadot's cryptocurrency in Moonstake's Wallet. DOT is top 5 cryptocurrencies 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 offers risk-adjusted crypto investment for the masses and allows users to compound their crypto holdings through mining, staking, and other DeFi products. Recently, RockX announced that they launched a USD20 Million investment program for the Polkadot ecosystem. The funding, capped at a maximum of USD 500,000 worth of DOT tokens per project, will be provided alongside technical support.
Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Polkadot is the flagship project of Web3 Foundation, the world's leading blockchain foundation founded by Ethereum co-founder and former CTO Dr. Gavin Wood. In addition to Dr. Wood, other key members include Dr. Aeron Buchanan, former Head of European Operations at Ethereum, and Reto Trinkler, co-founder of Melonport.
As of January 2021, 63% of the total supply or $6 billion of DOTs have been staked since Polkadot's mainnet launched in May 2020. The price of DOT, the native token of Polkadot and a cross-chain protocol for data and asset interoperability has risen more than 40% in December 2020 after two confidence votes by Binance, the largest crypto exchange by spot trading volume and placing it at ranking 5 cryptocurrencies by the market cap.
Mitsuru Tezuka, Founder at Moonstake says: "We are very pleased to partner with RockX, one of Polkadot's world's leading node operators. Moving forward, we believe our partnership with RockX will enable us to mark a new page in the Asian staking industry. And we are confident that we can support the ever-growing Polkadot ecosystem together. Welcome RockX to our staking partnership family."
Alex Lam, CEO & Founder at RockX says: "We are pleased to be partnering with Moonstake who is fast becoming a world leader in staking technologies. Moonstake and RockX will continue to push the boundaries together to improve access to blockchain services and focus further on the growth of our Polkadot ecosystem."
The partnership also includes the appointment of RockX's CEO Alex Lam as an official advisor to Moonstake.
Profile of Alex Lim
PhD in financial engineering, founded RockMiner – a Bitcoin mining machine manufacturer, in 2013. RockMiner has been focusing on POW mining and one-stop mining investment services since its establishment, serving customers in Europe, Singapore, Dubai, India and other countries and regions. Alex is also one of the founders of RockX, a PoS service and development platform established in Singapore in early 2019. Currently, RockX mainly operates Polkadot, Terra, Solana, Oasis, IOTX and other nodes, and participates in the application development of Algorand, Oasis and other projects. In the past few years, Alex has invested in multiple projects in different sectors of the industry, maintaining his dual identity as entrepreneur and investor.
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.
Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Catalist-Listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.
With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 210 Million. https://www.moonstake.io/
RockX is the smartest platform to participate in the growing digital asset economy by enabling anyone to capitalize on the emerging global asset class of digital assets and cryptocurrencies for the best risk-adjusted returns. RockX is a comprehensive digital asset platform where mainstream users can participate in the blockchain economy at a suitable risk-reward profile. RockX is the first of its kind in the market where users can diversify and be exposed to different digital assets in one simple interface. https://www.rockx.com/
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