Staking Adoption: A new survey has shed light on why cryptocurrency holders are hesitant to stake their cryptocurrencies.
The company that started the survey is Liquid staking platform Claystack. They surveyed 999 respondents who actively invest in proof-of-stake crypto, and are worth $5,000 or more. Survey participants came from Europe, Asia and the United States.
Mohk Agarwal is the CEO of Claystack. “The findings confirm our belief that in order to reach mainstream adoption, users should not be forced to lock their crypto in order to receive passive returns from staking. By allowing users to participate in the DeFi ecosystem, Staking must evolve to provide the benefits of staking as well – this is where liquid staking comes in, which we believe is the future of staking.”
To meet the lock-up period, 15% of the respondents said they would do liquid staking. With liquid bets, people can stake their crypto, but still have that amount freely available to be used elsewhere as a token.
Staking Adoption: key findings
-Those who have no plan to bet will not change their mind due to lock-ups, hacks and technical risk.
-But 45% will change their opinion and be willing to bet. Situation? If the return was 15% or more.
– The most popular way to bet? Setting up your own validator node. There are other popular ways to bet crypto. These include using a third-party staking service. Or they share through an exchange.
The main reason for the respondents not placing bets? So they do not need to close their assets for a long period.
Others don’t bet because they get higher returns elsewhere. They also worry that they may not be able to sell immediately if the market is volatile.
-People will change their mind when placing bets if they can use a lower minimum amount. They also want clear rules when it comes to placing bets.
When it comes to placing bets, hacking is a major concern. Other concerns are validator risk, market volatility risk, opportunity cost, and lock-ups or lack of liquidity.
-56% of people plan to stake in the next year. This includes those who have not placed a bet before. Most plan to hold 20% to 30% stake in their portfolio. And he expected a 15% return for staking.
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