Key Points
- Ethereum validator P2P.org’s Total Value Locked (TVL) has surged to $7.4 billion.
- P2P.org has introduced a Staking-as-a-Business (SaaB) model.
Ethereum validator P2P.org has achieved a significant milestone with its Total Value Locked (TVL) soaring from $5 billion in February to over $7.4 billion in March.
This considerable increase indicates the rapid growth of the validator and its growing importance within the Ethereum community.
P2P.org’s Remarkable TVL Growth
P2P.org’s TVL has seen a significant rise, jumping from $1.4 billion at the end of Q1 2023 to a whopping $7.3 billion by the end of Q1 2024.
This growth signifies that Ethereum users are increasingly relying on and trusting P2P.org’s staking infrastructure, solidifying its position in the staking industry.
Data from Dune Analytics reveals that as of April 8th, 240,832 ETH were staked on P2P.org, accounting for 0.75 percent of all staked Ethereum.
This makes P2P.org one of the top validators in the Ethereum ecosystem, competing with big names like Lido.
Despite Lido’s strong 29% share of staked Ethereum, P2P.org’s large market share demonstrates its growing influence and significance in the staking field.
Staking-as-a-Business (SaaB) Model
P2P.org has launched a novel concept, the Staking-as-a-Business (SaaB) model, to revolutionize how companies offer staking services.
This innovative solution addresses common issues like limited utility, attracting users to staking services, and generating revenue.
The SaaB model provides not just a staking infrastructure but also additional services such as legal, marketing, and sales support.
Staking allows Ethereum users to support the network while earning rewards. In September 2022, the POS system was activated, transitioning from a proof-of-work (PoW) system.
In PoS, validators verify transactions, while in PoW, miners do it. Validators on Ethereum must stake at least 32 ETH to validate transactions and secure the Proof of Stake system.
P2P.org secured $23 million in funding in April 2023, with backing from significant players in the cryptocurrency industry like Jump Crypto.
This investment highlights P2P.org’s role as a validator for not just Ethereum, but also for 30 other blockchains.
Many startups are now focusing on institutional staking, and this funding round is indicative of a larger trend in the industry.
Northstake’s recent $3 million funding from PreSeed Ventures exemplifies this trend, demonstrating the growing interest and acceptance of blockchain validation services.