BTCS, Figment And WonderFi To Kick Off Pilot Program For New Staker Protection Plan In March
BTCS Inc. (NASDAQ:BTCS), the blockchain infrastructure and technology company out to transform the approach to supporting Ethereum validators, announced it is partnering with Figment Inc., a blockchain infrastructure provider, for the launch of its Staker Protection Plan (SPP). As part of the pilot program for this new approach to protecting stakers, digital asset company WonderFi Technologies Inc. (OTC:WONDF) will become Figment’s first customer.
Announced in January, the intention of the Staker Protection Plan is to enhance financial stability and operational security for Ethereum blockchain validators and overcome some of the pain points of staking – giving validators predictable staking rewards while also boosting revenue.
Stable Income And More
Under the plan, BTCS says validators can gain stable income via pre-sold block space on the Ethereum network and retain as much as 90% of execution layer reward profits, which it says can increase earnings by up to 4%. The pre-sold blocks are built in adherence to regulatory standards, including compliance with the U.S. Treasury Department’s Office of Foreign Assets Control or OFAC.
That is important because it prevents users from sending or receiving funds from individuals or organizations on the OFAC list of sanctioned entities or individuals, which aims to stop the use of cryptocurrency …
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