Liquid staking became one of the key elements of modern DeFi. It gives higher flexibility for end users and allows them to capitalize on illiquid staking positions based on their risk appetite. Liquid staking can improve decentralization and censorship resistance for the underlying proof-of-stake network. Quicksilver is a sovereign protocol that aims to bring liquid staking to the broad Cosmos ecosystem.
Most TVL in Cosmos is locked in staking making users decide between DeFi and participation in network security. Quicksilver will utilize the liquidity staking module (LSM) that allows delegators to avoid unstaking their assets and make deposits into the protocol without losing rewards during the unbonding period. It also helps to maintain better security of the underlying chain. In the long term, it will seamlessly boost DeFi within the Cosmos ecosystem involving a portion of assets that are locked in staking and not transferable.
Quicksilver Protocol will be able to query the number of qAssets of a user and provide the ability to participate in governance according to the voting power, without the need to return qAssets. Through its concept of proxy governance, users will be able to vote on proposals directly through Quicksilver.
We are thrilled to announce that P2P.ORG joins Quicksilver as a genesis validator. It aligns with our intention to improve security, censorship resistance, and support better decentralization.
P2P has broad expertise in operating Cosmos SDK chains. We participated in the launch of Cosmos Hub mainnet and more than 10 other networks. P2P participated in the Quicksilver testnets to get familiar with operation specifics and prepare for mainnet launch. Our team provides 24/7 technical support and maintenance using best security practices.
Quicksilver is a liquid staking protocol that will bring liquidity to staked assets within Cosmos ecosystem. The team consists of former engineers from Chorus One. Quicksilver funding was received from investors like Strangelove Ventures, Interop Ventures, Iqlusion, Ki Foundation, Cerulean Ventures, and validators aligned with the ecosystem's values. More than 50% of QCK supply is expected to be airdropped to the users.
Learn more by visiting the official website and Twitter. If you are a developer, explore Quicksilver in more detail on Discord.
P2P Validator is a world-leading staking provider with the best industry security practices AAA SR-rating and proven expertise. We provide comprehensive due diligence on digital assets and offer only top-notch staking opportunities. At the time of the latest update, more than 750 million USD value is staked with P2P Validator by over 35,000 delegators across 40+ networks. We have successfully participated in Quicksilver testnets willing to provide long-term strategic support to the project.
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Research & Analytics at p2p.org.
<h3 id="the-graph-overview">The Graph overview</h3><p>The Graph is a decentralised protocol for querying and indexing data from blockchains. It is the backbone of major crypto projects like Uniswap, Lido, Livepeer and Decentraland. Basically, any dApp in order to be truly decentralised has to store its data on a distributed database. And The Graph is where dApps can store and collect information in a familiar Web 2.0 fashion but with Web3 security and reliability.</p><p>You can capitalise on major Web3 projects’ successes and failures and earn fees on The Graph platform. The Graph supplies the databases and computing powers to support these projects and this work is done by the <strong>indexers<em>.</em></strong> This work is backed by <strong><em>delegators</em></strong> that stake GRT by delegating it to them. Anyone can become a delegator and get between 9% and 15% APY on their GRT tokens.</p><p>Those looking for a <strong>higher yield and comfortable with higher risks</strong> can consider becoming a <strong>curator</strong>. </p><h3 id="how-to-become-a-curator-and-earn-up-to-30-apr-on-the-graph">How to become a curator and earn up to 30% APR on The Graph</h3><p>A Curators’ job is to identify the most prosperous Web3 projects that use The Graph as their database and <strong>buy their shares</strong>. When a curator holds these shares they get a part of the query fees served by indexers with some of them returning <strong>up to 30% APY</strong>. </p><p>With the new dashboard made by P2P for curators, it has become easier than ever to make data-driven decisions.</p><p><a href="https://reports.p2p.org/superset/dashboard/graph_curation">https://reports.p2p.org/superset/dashboard/graph_curation</a></p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/LWEFh4gxRK4CE8sSXkllZBvzy36YjMQi451EtVbXDWa3eHQR8s8UczlTY6Tbmq5_fJ1oJae4keRPkUWjlb8P_JJfEnjdo6N19XL0KdeABpsAIj1u5rJk4KV8_zE1_rZRcvwvFdenPU9_bAQNkbGsHGrjvABnpwgb8rjVSo5goYyZc4ic6ZUaTBXnc2BwfA" class="kg-image" alt loading="lazy" width="602" height="197"></figure><p>The first tab (subgraphs) is designed to give you data on where the upcoming query fees are going to be higher. </p><p>The creators’ share column would help you identify how many other curators may leave and thus lower your share price, as it is unlikely (but still possible!) for subgraph creators to abandon their own subgraph.</p><p><strong>Query fees (QF)</strong> probability is calculated based on the past 30 days. If there were no queries in the last month, the probability of new queries is close to 0. The percentage takes into account all closed allocations, their size, and duration and estimates the probability of the next query.</p><p><strong>QF APR</strong> is estimated based on the annualised Price per Share changes <strong>in the last 30 days </strong>based on indexers' allocation collect events.</p><p><strong>QF APR If You Signal N GRT</strong> is calculated considering current signals & query fees collected in the last 30 days.</p><figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/fPz7MeZb9VYyYw_iuPEagHOUkDL8YfaTa9lYmumMy2HQ0Uj9Tr87iApkHN2rS1z6WBC28LpmrQO9dvUGWpBNVZ-YO76Z4V3uKPA65sTplIWK_Of07bnIRIPEJv1QdEBWVNGGLj_JMNDdnxyR-k-5qblJEHdGDyMNhpvj4bBJyGbh_5Iafk99X34fyjPU9g" class="kg-image" alt loading="lazy"></figure><h3 id="how-are-query-fees-accrued">How are query fees accrued</h3><p>Everything starts with indexers allocating their GRT to subgraphs. They would allocate their tokens proportionally to the number of signals on the subgraphs. </p><p>In the table below Proportion = Signals / Allocated GRT</p><!--kg-card-begin: html--><p align="center"> <img src="https://p2p.org/economy/content/images/2022/12/image.png"> </p><!--kg-card-end: html--><p>If for example, curators added signals to the UMA subgraph, this would in theory lead to more indexers allocating GRT there. An allocation generates rewards for a period of 28 epochs only (approx. 28 days). After that, the allocation stops generating rewards and indexers have an incentive to close them. They may also close their allocation earlier if the signals on the subgraphs change. You can observe indexers' behaviour towards particular subgraphs in the Selected Subgraphs’ Current Indexers’ Allocations table.</p><figure class="kg-card kg-image-card"><img src="https://lh5.googleusercontent.com/A2KQHjzfMubFzSf3ZibEnHuYz0GCsRrsTNU5ygynfA_13tZzoOMiWI9ejdvDeqpfG7rO3u4rXDkeWQdWRBkPcDFdlb16_Oo_Hi4dQskoZRBl_mOJZXj7Qxakft6kF4KjlJ2X26jzZuBSWsllv9WqHq0s3r0VNB8MR9SpZjMKpV2bmuqL1lwDzBOnGLzV9A" class="kg-image" alt loading="lazy" width="602" height="99"></figure><p>Here's how the allocation lifecycle plays out:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2022/12/image-1.png" class="kg-image" alt loading="lazy" width="647" height="133" srcset="https://p2p.org/economy/content/images/size/w600/2022/12/image-1.png 600w, https://p2p.org/economy/content/images/2022/12/image-1.png 647w"></figure><p>Because Indexers have to pay gas for every action sometimes they choose not to collect query fees if the reward doesn't outweigh the cost. They can store those query fees and accumulate them until it is economically viable to claim them. To help you predict whether an indexer will claim query fees, we provide you with the stats for previous allocations. Curators only get their share of query fees after the indexers claim them.</p><h3 id="differences-between-the-share-price-and-the-token-price">Differences between the share price and the token price</h3><p>Query fees are not the primary source of income for curators. Most of the tokens earned come from the <strong><em>shares' price changes</em></strong>.</p><p>The share price is not tied to the project’s token price. For example, changes in the Uniswap token price, UNI, do not correlate with changes in price for its subgraph shares. Some of the projects with a subgraph do not have a token at all, for example, Connext has not released its token yet. You also need to pay attention to the subgraph publisher. For example, Messari has published subgraphs for Uniswap, Lido and other projects, but those subgraphs are not used by Uniswap or Lido, but by Messari.</p><p>With the help of our new tools, you can take a look at how other curators earn GRT on the share price changes. You can try to figure out the tactics that others use to become more profitable by taking a look at their portfolio and the actions they took.</p><h3 id="shares-price-and-bonding-curve">Shares price and bonding curve</h3><p>When signalling onto the subgraph a curator buys shares. The price of a share is pre-determined by the bonding curve and each subsequent share is more expensive. The same logic applies in the opposite direction. If someone sells a share, the share price of each curator on that subgraph drops as the price goes down the bonding curve. This process is well documented in <a href="https://thegraph.com/docs/en/network/curating/">The Graph's official documentation</a>. The primary way to earn rewards in curation is by being among the first to notice the true potential of a subgraph.</p><p>There are a few tactics that can be applied to be successful in this way of earning rewards. One that is very frowned upon by the community is the use of front-running bots that signal on a subgraph as soon as it appears in the network. There are different proposals on how to decrease their impact on the industry. These bots are not as aggressive as in other parts of the crypto ecosystem, so they still leave an opportunity for common investors to earn rewards in the curation market.</p><p>Projects with big names, such as Lido, Messari, and Curve get their signals very quickly as it is assumed that they will generate both hype and query fees that would generate rewards. But keep in mind that anyone can create a subgraph with any name, so it is better to make sure that the subgraph you plan to signal on is the official one. In all the cases mentioned above, a good place to discuss any Curation related questions is the official <a href="https://discord.com/invite/vtvv7FP">discord channel</a>.</p><p>We hope our new tool helps you in your curation process decision-making, or if it is the case, it helps you get started. We are always happy to hear your feedback on the work we are doing, so do not hesitate to reach out, and make suggestions on how we can make The Graph even better.</p><p>Check out the tool below.</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://reports.p2p.org/superset/dashboard/graph_curation/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Superset</div><div class="kg-bookmark-description"></div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://reports.p2p.org/static/assets/images/favicon.png" alt=""></div></div><div class="kg-bookmark-thumbnail"><img src="https://reports.p2p.org/static/assets/images/loading.gif" alt=""></div></a></figure><hr><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_fee">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. At the time of publishing, P2P Validator is trusted with over $1B in staked assets by over 30,000 delegators across 40+ networks.</p>
<p>P2P Validator has been supporting the Polkadot network since the very first era. Our <strong>refined products allow nominators</strong> to easily manage investments and receive a detailed report on their staking income.</p><p><strong><strong>We </strong>are <strong>invest</strong>ed<strong> in the development of the Polkadot network</strong> </strong>and believe in its long-term prospects.<strong> H</strong>owever, the market conditions force us to review the fee to be able to keep contributing to the network and the community. </p><h3 id="what-have-we-done">What have we done?</h3><p>For over eight months under a reduced fee, we <strong>did not stop the development activity</strong> in the Polkadot network. Here is a list of the <strong>most significant achievements</strong> that we have released for the Polkadot community:</p><ol><li><a href="https://t.me/p2pvalidator_monitoring_bot">Monitoring-as-a-service telegram bot</a>. A bundle of Grafana dashboards and a telegram bot for Polkadot & Kusama that allows the creation of a personalized dashboard to track consensus participation, block finalization efficiency and performance comparison with the network averages.</li><li>A new version of the <a href="https://github.com/p2p-org/polkadot-profit-transformer/tree/mbelt3/prod">Multi Blockchain ETL solution</a> with high-speed extraction and parachain support. We developed and supported the infrastructure for the MBELT, spending thousands of dollars every month. We believe that historical data is needed if we want to open up more widespread use cases: <br><strong>Parachains: </strong><br>- API<br>- Indexer <br><strong>DeFi:</strong><br>- Uncollateralized lending & borrowing<br>- Credit scoring<br><strong>Community analytics: </strong><br>-Dashboards for performance tracking<br>-XCM messaging history<br>-Various kinds of analysis<br></li></ol><h3 id="plans-for-future-developments">Plans for future developments</h3><p>Product development inside the ecosystem is essential to support the Polkadot network and as a part of the community's long-term growth and network value.<br><br>Here is a brief list of planned releases:</p><ol><li>Slashing insurance coverage for institutional clients;</li><li>A new version of the Monitoring-as-a-service tool to track the finalization of blocks.<br></li></ol><h3 id="when-will-the-fee-be-increased">When will the fee be increased?</h3><p>We will increase the fee to 2.5% in Polkadot starting December 9, 2022. There is a lot of work ahead, and we believe that <strong>joint efforts will accelerate the evolution of the Polkadot ecosystem.</strong></p><p>We want to <strong>thank all our nominators</strong> for their continuous support and for staking with us! </p><hr><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_fee">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. At the time of publishing, P2P Validator is trusted by over 30,000 delegators across 40+ networks.<br></p>