MyEtherWallet is currently the only way users can access staking for the Skale Network on mobile
Los Angeles - October 14, 2021 - MEW (MyEtherWallet), the leading platform to access the best of the Ethereum ecosystem, today announced that users can now earn rewards by staking their SKALE (SKL) tokens from within the MEW wallet mobile app. Skale Network, is a fully decentralized Ethereum compatible multichain Proof of Stake network that provides all the benefits of decentralization and speed alongside unparalleled security. MEW has integrated with Blockdaemon, the leading blockchain infrastructure provider, to support the launch of SKALE staking. This partnership will allow users to access a new way to earn rewards by staking their SKL tokens and helping to secure the network.
The Skale Network is a first-of-its-kind, open source multichain network designed specifically for scaling Ethereum. It does this by increasing transaction speeds, lowering transaction costs, and creating seamless workflows for end users and developers building applications on Ethereum. SKALE is a Proof-of-Stake (PoS) network secured by 46 validator orgs that include the world’s leading independent validators, running over 150 nodes globally. Developers and projects are able to provision their own unique dedicated SKALE chain with high throughput and fast finality. This is done by assembling a unique subset of nodes present in the network to serve as the validators for each SKALE chain.
Staking your SKL with a Validator is a great way to participate in the SKALE network, both helping it to grow, as well as joining the pooled security model that makes SKALE unique. Every month you stay in the network, you continue to strengthen it, while also earning rewards. With Blockdaemon’s infrastructure support, MEW has a reliable and scalable way to provide users access to SKALE. SKALE validator nodes are supported by Blockdaemon's extensive, highly tested monitoring, alerting and availability solutions which allow scaling configurations up and providing smart redundancy to avoid penalties and downtime. Their multiple layers of risk mitigation to make sure validators are secure helping users peace of mind and strengthening the network.
“Ethereum is continuing to grow to offer millions of users new experiences on the blockchain,” said Kosala Hemachandra, Founder and CEO of MEW. “By giving our users access to stake their SKL, we are giving them another way to control their assets in a manner that suits their individual needs.
The integration with MEW wallet will allow for users to stake their SKL tokens to earn up to 15% in rewards. Staking tokens is the act of locking the value of a digital asset into that token’s network for a timed duration, known on SKALE as epochs, which helps secure the network for all users. Staking inside the MEW mobile app allows users to take advantage of the high-yield benefits while allowing you to retain custody of your tokens in your wallet and reducing the barriers to entry that other staking programs have. Unlike Ethereum 2.0’s staking program, which requires 32 ETH, SKALE staking does not require users to deposit a large number of tokens to participate. MEW mobile users also have the option to automatically renew their staking or withdraw their tokens after each staking period.
”Giving access to the best wallets and staking options is critical for decentralized performance, which is why it makes so much sense to work with My Ether Wallet,” said Jack O’Holleran, cofounder and CEO SKALE Labs. “MEW has massive global adoption and SKL holders can now easily stake their tokens using a mobile crypto wallet. That is a first, and a big step towards bringing crypto to the masses, which is precisely what the industry needs to take everything to the next level.”
"We are delighted to support MyEtherWallet in expanding their mobile wallet experience through our secure staking infrastructure,” said Demetrios Skalkotos, Global SVP of Sales at Blockdaemon. “With MEW providing new ways of earning rewards for their users with SKALE, they are bringing accessibility and allowing for greater adoption in the Ethereum ecosystem. We look forward to supporting the continued growth of MEW through Blockdaemon infrastructure and staking services.”
MEW recently released their v6.0 update of the MyEtherWallet website platform that puts more of the Ethereum ecosystem at your fingertips than ever before. From DeFi and stablecoins to NFTs and Ethereum scalability solutions, MEW 6 delivers multiple UI upgrades, under-the-hood changes for DApp integration, and multichain support for popular Ethereum-compatible networks. For more information or details on utilizing the Skale Network, you can visit MEW’s announcement on Medium. Full announcement will be found here- (https://medium.com/myetherwallet/skale-staking-now-available-in-mew-wallet-app-for-ios-8ad3bcb153e0)
MEW is a nexus point for transacting in the Ethereum ecosystem, providing unprecedented access, a secure wallet, multi-faceted integration possibilities, and comprehensive education that allows anyone to quickly take advantage of all the benefits crypto finance has to offer.
MEW makes interacting with the Ethereum ecosystem simple - it is free, open-source, and secure. Founded in 2015, it is the original interface empowering users to maintain full control of their keys and assets at every point of interaction and does not hold, save or store any personal information. Today, MEW is committed to offering a suite of products that provide access and education to users who want to interact with the blockchain on their own terms.
SKALE is a multichain network composed of an unlimited number of secure, decentralized, high-performance Ethereum Blockchains. These SKALE Chains were purpose-built to bring Web3 to billions of consumers around the world. SKALE’s modular and extensible platform includes EVM functionality, file storage, interchain messaging, and machine learning capabilities, but is open sourced and designed to allow developers to easily use best of breed solutions when necessary. This architecture further allows applications to run completely on SKALE chains without centralized dependencies.
The SKALE Network is an open source project with many contributors including SKALE Labs, Inc. headquartered in San Francisco, CA. The SKALE Network’s supporters include Arrington Capital, Blockchange, ConsenSys Labs, Hashed, HashKey, Floodgate, Multicoin Capital, Recruit Holdings, Signia VP, and Winklevoss Capital. The SKALE Network is supported by many of the top validators in the world including 01NODE, Ankr, Anonstake, Audit One, Blockdaemon, Blockware, Chainflow, Chainode, Chorus One, Cypher Core, Dokia Capital, Figment Networks, FreshSkale, Hashed x DELIGHT, Hashquark, Staked, Stakin, Stake With Us, WolfEdge Capital, as well as Staking Facilities. SKALE Network utilised the $SKL token which is listed on 37 exchanges/DEXs globally, including Binance, Coinbase, FTX, Gemini, Huobi, KuCoin, CoinList, OKEx and more. For more information please visit www.skale.network, @SkaleNetwork on Twitter, and @skaleofficial on telegram.
Blockdaemon is the leading independent blockchain node infrastructure to stake, scale, and deploy nodes with institutional-grade security and monitoring. Supporting 40+ cutting edge blockchain networks in the cloud and on bare metal servers globally, Blockdaemon is used by exchanges, custodians, crypto platforms, financial institutions and developers to connect commercial stakeholders to blockchains. We power the blockchain economy by simplifying the process of deploying nodes and creating scalable enterprise blockchain solutions via APIs, high availability clusters, auto-decentralization and auto-healing of nodes. For more information, please visit https://blockdaemon.com/ and @BlockdaemonHQ on Twitter.