StakeHound’s first out of three infrastructural pillars: secure and reliable staking with Allnodes

At StakeHound we aim to provide secure and reliable service thus building a strong infrastructure around stakedTokens is our main priority. Thanks to our partnership with Allnodes all our users can be sure that their tokens are staked and working, generating stable rewards while they are exploring numerous opportunities in DeFi.

StakeHound eliminates the choice between staking and participation in DeFi. To achieve it StakeHound creates stake-backed, instantly transferable tokens which can be immediately used in DeFi. Original tokens are staked in the pool, and StakeHound distributes staking rewards directly to users as additional stake-backed tokens on the regular basis. But what is exactly happening in the background? Are your tokens secured? And how the staking is actually happening?

StakeHound & Allnodes Partnership

From the very first moment we at StakeHound realized that to offer best in class service we must build an efficient and secure infrastructure supporting stakedTokens. StakeHound solution for staking and DeFi stands on three pillars one of which is stable and reliable staking hosting. That’s why one of the first partnerships StakeHound formed was with Allnodes — the Best Masternode Hosting Provider in 2020 according to Masternode Buzz.

This Partnership allows all our users rest assured that their favorite PoS tokens entrusted to StakeHound are managed by the true staking and masternode professionals at Allnodes. At the same time at StakeHound we aim to maximize the yield for all our users, most of whom can’t immediately afford to have a running masternode which is usually associated with higher rewards. Thus we act as a pool combining several staking positions to form a masternode where each of the users owns a respective part and receives proportional reward. These rewards are later also combined and used to buy a new masternode and so on. While the equivalent of stakedTokens including the rewarded ones remain at user’s complete disposal at all times.

Why Allnodes

With more than 7000 nodes hosted and almost 13% market share Allnodes is probably the most reliable hosting provider on the market. It already supports staking and hosts masternodes for more than 15 PoS protocols including Zcoin, NEM, Dash, Cosmos, Cardano and constantly adding new ones.

As well as StakeHound Allnodes takes reliability and security seriously. They guarantee up to 99.90% uptime SLA and according to the huge amount of feedback from happy customers on TrustPilot their nodes literally never go offline. Allnodes is the only hosting provider that provides the possibility to host nodes from hardware wallets (e.g. Zcoin, DASH, etc) without using 3rd party tools, which reduces risks for custody and increases the overall security of our solution.

And this is especially important for StakeHound as the stakedXZC is the first stake-backed token to be launched in mid October.

“Ask me Anything” session with Allnodes

We are happy to announce that for the next already traditional StakeHound AMA hosted by our CEO Albert Castellana we have invited Tally Greenberg, Head of Business Development of Allnodes for a live interview streamed on StakeHound Facebook Page. And as a special surprise we will have the Sephiroth, Founder and CEO of Allnodes joining StakeHound Telegram group to answer more of your questions after the interview ends!

As usually the session will be held on Thursday, 24th of September at 12pm CEST.

StakeHound at glance

StakeHound eliminates the choice between staking, essential for any PoS network security which also generates stable rewards, and liquidity, enabling users to freely trade their tokens and participate in DeFi. To do it StakeHound creates stake-backed, instantly transferable tokens which can be immediately used in DeFi. We aim to support all major Proof-of-Stake cryptocurrencies with Zcoin as the first token to be launched already in the beginning of October 2020.

Here is how StakeHound works. Users send their favourite Proof of Stake tokens, such as XZC, RADIX or XEM, to StakeHound which is received by one of our institutional-grade custodian partners. StakeHound then instantly generates and sends the user a one-to-one ERC-20 representation of their original tokens. StakeHound stakes the tokens it receives, and distributes staking rewards directly to users as additional stake-backed tokens. Users will be able to take their stake-backed tokens and use them in all popular DeFi applications.

StakeHound users can swap their stakedTokens back for their original tokens at any time. Although due to the nature of staking, this may have a time delay while unstaking is completed.

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Bringing Staking and DeFi together