May 7, 9 am UTC — According to IOST’s official blog post, IOST, a highly scalable, proof-of-believability-powered smart contracting platform, has formally joined forces with Moonstake to enable staking functionality for the IOST coin in Moonstake’s wallet.

IOST is an enterprise-level blockchain network developed for online service providers. It utilizes a unique breakthrough consensus algorithm called proof-of-believability, or PoB, that allows high transaction throughput speeds, zero gas fees while keeping nodes compliant. Recently, IOST has experienced a tremendous 650% boost in market price due to its entrance into decentralized finance and the arena of nonfungible tokens. Moreover, IOST received staking support and increased staking volumes on major global exchanges, such as Binance and Huobi.

Moonstake joined the staking business last year with the aim to create the largest staking network in Asia. Since then, Moonstake has developed the most user-friendly wallets for both Web Wallet and Mobile Wallet (iOS/Android), which are compatible with over 2,000 cryptocurrencies. 

After the full-scale operation launched in August 2020, Moonstake’s total staking assets now sit at over $900 million. After one year, the Moonstake platform is now one of the top 10 largest staking service providers globally. The Moonstake staking community can easily earn staking rewards from high-demand proof-of-stake coins on the market, including Cosmos (ATOM), IRISnet (IRIS), Ontology (ONT), Harmony (ONE), Tezos (XTZ), Cardano (ADA), Qtum, Polkadot’s DOT, Quras (XQC), Centrality (CENNZ), Orbs and soon IOST.

With experienced development teams and robust enterprise partnership networks across the globe, the collaboration between Moonstake and IOST promises holders that the staking experience in the Moonstake Wallet will exceed expectations.

Moonstake will also join IOST’s blockchain as a partner node. Its node will officially go live today. 

Jimmy Zhong, co-founder and chief executive officer of IOST, said:

“We’re pleased to collaborate with Moonstake, one of the world’s top 10 largest staking providers with user-friendly, secure and highly powerful staking wallets. IOST is always looking to partner with reputable projects, and so far, we are very much impressed with the market position Moonstake has achieved in just one year since the launch. We look forward to increased adoption of IOST staking and the IOST network, following the launch of IOST staking in Moonstake Wallet, as well as further collaboration opportunities with the Moonstake team.”

Mitsuru Tezuka, founder of Moonstake, said:

“We’re excited to partner with IOST, an esteemed lea at ding blockchain platform, to enable the IOST staking for our holders on Moonstake Wallet. The demand for IOST staking has been on the rise in the market recently, following the many great strategic achievements of the IOST network, and we can’t wait to bring this much-requested feature to our users. Moonstake also looks forward to potential deeper collaboration opportunities in different fields of decentralized technology with the innovative experts at IOST.”

Backed by major financial and VC firms such as Sequoia, Matrix and ZhenFund, IOST is a top public blockchain in terms of performance, utility and adoption. The team remains committed to expanding the use-case of blockchain and is now training its eyes to further push its DeFi and NFT offerings this year.

A rich and diverse ecosystem is necessary for the success of core sub-sectors for IOST to be a leader. Adding Moonstake is the right step that will generate another boost to IOST’s well-developed staking ecosystem and healthy growth of its blockchain network.