It's always nice to check in on certain trends to see how they are progressing and this morning we're going to do a quick fly by on the inevitable wave of exchanges adding staking services to their offerings. We last touched on this subject in September of last year after Gate.io announced it was offering staking services to its users. Today, it appears that Coinbase is officially ready to start unleashing these services on their institutional clients holding Tezos. The party has officially started.
This, naturally, leads to pointing out the glaringly obvious vulnerability of these types of services heavily centralizing Proof of Stake chains since exchanges are able to offer interest rates above the market rate due to their economies of scale. This may prove too enticing for token holders to pass up, which in turn could lead to the Coinbases of the world amassing a percentage of the total supply of some chains that gives them undue influence over said chains.
Something to pay attention to as these services become more popular and as more poor souls fall prey to the siren calls of Proof of Stake. Luckily for us, our friend Matt Odell is on the case documenting the trend in this thread. We here at Marty's Ƀent will keep you freaks updated as this trend continues to gain steam.
On a huge "listen to the songs your favorite rappers have sampled" kick. Not a bad kick to be on.
Enjoy your weekend, freaks.