Donation of CESR Revenue to Further Ethereum Ecosystem
AUSTIN, Texas, May 31, 2024 /PRNewswire/ — CoinFund, a leading cryptonative investment firm and RIA, proudly announces that it will be taking the Protocol Guild Pledge and will be donating a percentage of net income earned from CESR™, the composite ether staking rate, to support Protocol Guild’s membership of over 170 Ethereum Layer 1 R&D maintainers.
In 2023, CoinFund announced the launch of CESR in partnership with CoinDesk Indices. Due to its competitive, real yield versus its fiat peers, it is quickly achieving product market fit as the first cryptonative staking rate benchmark of its kind, even receiving recognition by the World Finance Innovation Awards in its inaugural year.
Recently, the industry saw its first fixed vs floating swaps executed by FalconX and powered by CESR – paving the way to build upon the $500 trillion interest derivative market. CESR has been integrated into DeFi with protocols like Rho Labs, who in April 2024 announced that CESR “…will help Rho users manage risk from Ethereum staking yields and transaction costs more efficiently, and lock-in fixed rates of return for counterparties.” Forward-thinking service providers like Northstake have announced pilots to explore tokenized Ethereum staking, joining various global institutions as CoinFund and CESR partners for various asset management, derivatives, futures, securities and other benchmarked products.
Chris Perkins, President of CoinFund, commented onstage at Consensus, the world’s longest running blockchain event, “Ethereum‘s transition to proof of stake enabled the launch of CESR, the composite ether staking rate. A composable industry benchmark like CESR is already unlocking next generation financial products and fixed income markets that will serve as a key innovation across global financial markets. None of this would have been possible without the tireless efforts of Ethereum‘s core developers, and we are eager to support and champion these builders through this pledge.”
Trent Van Epps, Member of Protocol Guild, said: “We are deeply appreciative of CoinFund’s commitment to supporting Ethereum‘s core protocol work. I hope that many more projects will follow their lead in recognizing their responsibility to support the stewards that make this all possible!”
About CoinFund
CoinFund is one of the world’s first cryptonative investment firms and a registered investment adviser founded in 2015. The firm champions the leaders of the new internet, powered by foresight as active investors to achieve extraordinary outcomes. CoinFund invests in seed, venture, and liquid opportunities within the blockchain sector with a focus on digital assets, decentralization technologies, and key enabling infrastructure. For more information, visit CoinFund.io, LinkedIn or join us on X.
About Protocol Guild
Protocol Guild is a collective funding mechanism for Ethereum‘s active Layer 1 R&D maintainers. The members regularly publish a list of current contributors onchain, which allows the broader ecosystem to fund the stewardship of its commons infrastructure. Read more about the mechanism here or follow for updates here.
SOURCE CoinFund
