Tavis Digital becomes the first Swiss asset manager to launch Cosmos staking service
• Tavis Digital is the first Swiss asset manager to offer staking services for the Cosmos blockchain’s native ATOM token, enabling delegators to participate in the Cosmos network and earn staking rewards.
- Running its own validator on the network, secure and compliant staking services for ATOM are available with Tavis Digital from today.
- Anyone who holds ATOMs can now stake them directly to the Tavis Digital validator node and immediately start earning staking rewards.
ZURICH, 7 December 2020 — Tavis Digital has announced it is joining the Cosmos ecosystem and actively supporting the network by running its own validator node. The Swiss digital asset manager is now participating in the governance and security of the Cosmos hub and is open to accepting delegations from all ecosystem participants, whereby they can stake their assets to earn staking rewards.
Despite increasing traction in the digital assets sector, it is still challenging for regulated investors and wealth managers to enter the space. Safe handling of digital assets and securities is still challenging and costly. Setting out to overcome these barriers, Tavis Digital running its own blockchain validator nodes allows them to add to their ever-expanding range of financial products and services to delegators and institutional investors.
Tavis Digital believes there is increasing demand for institutional quality digital financial products, professional asset management services and robust operations. ‘First mover’ financial institutions can now benefit from Tavis Digital’s unique expertise, track record and market position without reputational or regulatory risk.
“Tavis Digital joining the network of Cosmos validator nodes as a leading Swiss digital asset manager is a major sign of the network ’s security and longevity and is yet another step on the path towards major institutional and enterprise adoption of Cosmos.” says Zaki Manian, Founder and CEO of Iqlusion, and one of the earliest leaders in the Cosmos and Tendermint community, who has been instrumental in the architecture and growth of the ecosystem. “Iqlusion’s goal for 2021 is for Proof of Stake to grow up. Bringing another regulated financial institution into the Cosmos staking set is a huge step forward towards achieving this. Iqlusion is a big supporter of introducing split governance voting on Cosmos to make participation easier for institutions like Tavis Digital. We are also working on staking derivatives with UniFi Dao, which will help Proof of Stake mature by making the markets more efficient and in turn enabling more financial institutions like Tavis Digital to enter the space”, he added.
James McDowall, Portfolio Manager at Tavis Digital, justified the selection of Cosmos by explaining: “We believe Cosmos has several key strengths including governance, interoperability, network throughput, fee structure and programming language. We are most impressed with the size and acceleration of the ecosystem and are seeing many promising projects with top tier development teams building within it.”
“We are strong supporters of the Cosmos network and governance mechanism which align with Tavis Digital’s values and compliance requirements. With our launch of ATOM staking, anyone can now delegate to our validator node. Cosmos is the first validator node run by Tavis Digital, and we intend to expand our offering to provide further secure validator nodes for Cosmos based networks soon”, says Marcus Maute, Managing Partner at Tavis Digital.
About Staking and Delegated Proof of Stake (DPoS)
Blockchain networks pay participants to secure them. The most famous example is the Bitcoin (BTC) blockchain, which uses a Proof of Work (PoW) mining algorithm. However, mining has downsides such as high energy consumption and technical difficulty. Proof of Stake (PoS) is an alternative consensus mechanism (way to verify and secure transactions) that allows users to generally secure blockchain networks with minimal energy consumption and setup.
Staking is the process in which digital assets are used as collateral to produce new blocks for a blockchain. Cosmos uses a slightly different consensus mechanism called Delegated Proof of Stake (DPoS), which allows investors to take part in the security and governance of networks by staking assets to a finite number of active validators. Tavis Digital has launched its own Cosmos Validator and aims to remain in the active validator set and attract delegations from ATOM holders.
About Tavis Digital
Tavis Digital is a leading Swiss asset management company that focuses entirely on the portfolio management of digital assets. As a spin-off of Tavis Capital AG, a FINMA-regulated asset manager with over CHF 1 billion AuM from institutional investors, Tavis Digital positions itself as a pioneer in the asset management industry
About Cosmos & Tendermint
Cosmos is an open-source and highly scalable DPoS (delegated proof-of-stake) blockchain network that supports smart contract functionality and the development of application-specific blockchains. Enabling inter-blockchain communication (IBC), Cosmos is being adopted by a rapidly increasing number of enterprises and is backed by one of the largest developer and researcher communities of all blockchain networks.
Cosmos is made up of two elements: the Cosmos SDK (Software Developer Kit) and the Tendermint BFT consensus algorithm. It has been designed with the developer in mind, allowing for full customization over any single feature of any chain, rather than forcing the use of a specific programming language thanks to the numerous virtual machines being built on top of the Cosmos SDK.
Tavis Digital GmbH