WonderFi Deploys Ethereum Validator Nodes

WonderFi Technologies Inc.(NEO: WNDR) (OTCMKTS: WONDF) today announced that it has established and deployed proof of stake (PoS) validator nodes on the Ethereum network, as part of its continued decentralized finance (DeFi) infrastructure and portfolio management strategy.

“Validator nodes play a crucial role in securing the networks that power DeFi, while providing yield on the staked assets” commented Cong Ly, CTO of WonderFi. Currently staking ETH through a validator node yields approximately 6% APY on the staked assets.

Blockchain protocols that use PoS consensus mechanisms are supported by validator nodes that play a critical role in securing the network and validating transactions. PoS requires participants to stake ETH to become a validator on the network. Validators are responsible for ordering transactions and creating new blocks, earning block rewards in return for providing this work.

The Company will deploy best practices in managing, updating and operating its validator nodes, and evaluate the performance and potential for additional PoS-related opportunities across relevant networks that power decentralized finance.

To view the original press release in its entirety click here