Vancouver, British Columbia--(Newsfile Corp. - November 3, 2021) - WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced that it has established and deployed additional proof of stake (PoS) validator nodes on the Ethereum network, as part of its continued decentralized finance (DeFi) infrastructure and portfolio management strategy. The Company now operates a total of ten full Ethereum nodes.
"We are continuing to grow our infrastructure which is supportive of our balance sheet and also opens up opportunities within our product offering," 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 continue to 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.