- Chorus One has introduced HYPE staking via a strategic partnership with FalconX.
- More than 1.85 million HYPE, valued at over $103 million, has already been staked via the Chorus One validator node.
- The Chorus One HYPE validator node made its first decision regarding the USDH governance vote by supporting Paxos.
Chorus One, one of the top providers for institutional-grade staking on more than 40 blockchains, has partnered with FalconX, a top-tier crypto prime brokerage, to unveil a validator node on the Hyperliquid (HYPE) network.
The Chorus One’s HYPE validator node, unveiled in close collaboration with FalconX, has already surpassed 1.85 million HYPE staked, valued at more than $103 million.
Top Reasons Why Chorus One Tapped FalconX to Unveil HYPE Staking
Chorus One has existed since 2018 and helped more than 100k investors earn over $300 million from a total staking of around $2.8 billion. Over the years, Chorus One has partnered with key web3 projects to facilitate secure, and compliant validator nodes.
The decision to work together with FalconX to unveil the HYPE validator node stems from the need to offer investors deep liquidity in a secure and compliant environment. Furthermore, the Hyperliquid ecosystem has attracted a huge volume of organic investors due to its unique ability to disrupt the vast crypto trading.
“Partnering with FalconX ensures institutional clients gain direct access to staking through a platform trusted by some of the world’s largest financial players. With FalconX’s custody integrations and liquidity services, institutions can easily engage with Hyperliquid staking in a secure, compliant, and capital-efficient way,” the announcement noted.
As such, HYPE holders can seamlessly delegate their tokens through the Chorus One validator node without any minimum or maximum. Currently, the Chorus One’s HYPE validator node is offering investors an annualized staking reward of between 2.1% and 2.3%.
Through FalconX’s deep liquidity, Chorus One’s HYPE validator node can guarantee investors a distributed daily reward with automatic compounding.
First Chorus One’s Validator Node Decision on Hyperliquid
The Chorus One team of researchers is set to engage in the governance process of the Hyperliquid network. To start with, the Chorus One team announced that it used its delegated powers to vote in favor of Paxos as the designated issuer of USDH, a U.S. dollar-pegged stablecoin that is native on the Hyperliquid network.
“Our assessment was made following extensive discussions with proposers, our partners at FalconX, and the interests of our delegators. We are confident that Paxos’s vision and execution will deliver significant value to Hyperliquid,” Chorus One noted.
The Chorus One team stated that it voted for Paxos to offer USDH since it aligns with Hyperliquid’s roadmap, including earning 0 fees until the stablecoin’s market cap crosses $1 billion.
