Nonco is excited to announce its new offering aimed at providing Ethereum (ETH) validators with a fixed-rate yield solution. Leveraging the CESR™ (Composite Ether Staking Rate) as a benchmark for the liquid term structure of implied staking rates, this initiative seeks to provide a reliable and predictable income stream for ETH validators. Twinstake proudly becomes the first client to engage in this offering, marking another industry milestone with the first swap transaction by a staking provider on CESR, by CoinDesk Indices and CoinFund.
Interest from ETH validators has been increasing significantly, especially with the launch of ETH ETFs this week. The introduction of ETFs is expected to further solidify ETH's position in the market, drawing more participants into the staking ecosystem.
According to Jeffrey Howard, Partner at Nonco, “The flexibility and customizability of CESR swaps play a crucial role in this new offering. CESR swaps allows us to provide tailored yield hedging strategies to a wide variety of market participants. This adaptability ensures that validators and other stakeholders can manage their risk exposure effectively while optimizing their returns.”
Twinstake’s CEO Andrew Gibb commented “Twinstake is excited to be the first staking counterparty for this evolution of ETH staking rewards-linked products. CESR's role as the leading ETH staking rate benchmark made it the clear choice for this collaboration and is likely to be the basis of similar products in future.”
Nonco's innovative approach, in partnership with Twinstake, marks a significant milestone in the evolution of Ethereum staking. By providing fixed-rate yield solutions and leveraging advanced financial instruments like CESR swaps, Nonco continues to lead the way in delivering cutting-edge solutions to the cryptocurrency market.
“Our collaboration with CoinFund on CESR has established a key piece of infrastructure for digital asset markets,” said Alan Campbell, President of CoinDesk Indices. “Innovators like Nonco and Twinstake are highlighting the critical role of a reliable benchmark staking rate for risk management."
For the CESR offering please visit Nonco.
For more information about CESR visit the CoinDesk Indices CESR webpage.
About Nonco
We are an institutional crypto trading firm with a unique approach. With ten years of experience in trading digital assets, our team employs a risk-mitigating, noncustodial approach that leverages clearing, bilateral, and smart contract settlement capabilities. Our expertise spans across stablecoins, legacy and altcoin execution. Discover more at nonco.com.
About Twinstake
Twinstake is the premier non-custodial staking provider for institutional clients, designed and built in collaboration with leaders in the digital assets space. We combine unrivaled knowledge and experience of the institutional market with deep crypto and technological expertise. The Twinstake platform prioritizes reliability, transparency, and robust security measures to ensure optimal staking performance for financial institutions. To learn more about how Twinstake can support your crypto asset staking needs, visit twinstake.io.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240725499259/en/
Contacts
Gabriela Belden, gabriela.belden@nonco.com
Peregrine Communications, cate.swallow@peregrinecommunications.com
