What Is STAKE?
STAKE initially was a staking token utilized in the Proof-of-Stake consensus mechanism of the xDai chain. Apart from STAKE, a USD-pegged stablecoin was also a part of the xDai network. Make sure to check out the STAKE price chart above if you want to know the current (or previous) STAKE price.
xDai was founded in 2018 by a side-chain of Ethereum called the POA Network. The founder of the POA Network and the xDai chain is Igor Barinov. He has a degree in material and computer science. He also founded such companies as Hint Solutions and Profit Button. Besides, Barinov also worked at MTS Group, Insight Data Science, and Blocscout Technologies.
STAKE holders were able to stake their tokens in the POSDAO and EasyStaking protocols. The maximum yield was 15%, while the effective yield was 10%.
xDAI/Gnosis Merge
In November 2021, a proposal called GIP 16 was rolled out. It suggested that xDai should be merged with Gnosis in order to develop the Gnosis Chain. Gnosis is a branch of ConsenSys, which is a blockchain software technology company that provides a variety of business solutions and developer tools. There are plenty of DeFi applications developed on Gnosis.
After it was decided by the community that the merger should take place, the Gnosis Beacon Chain emerged. It essentially is an EVM-compatible beacon chain framework that aims to provide users with fast and low-cost transactions.
What Happened With STAKE Tokens After the xDAI/Gnosis Merge?
Holders of STAKE tokens had the chance to swap their tokens for GNO until May 31, 2022. GNO token was the native token of Gnosis. Now, it’s the new staking token of the Gnosis Chain. Overall, STAKE holders were given six months to exchange their tokens for GNO tokens.
During the period of six months, STAKE token holders were still able to yield rewards by staking STAKE tokens. However, after six months passed, they were not able to do that anymore since GNO tokens completely replaced STAKE tokens.
If you've looked at the aforementioned STAKE price chart above, you’ve noticed that the STAKE price tends to fluctuate. This is normal since all crypto assets fluctuate mostly due to the volatility of the entire crypto market.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
71.08K
Followers: 71,083
0.12%
Following
234
0.00%
Posts count
8,931
0.09%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
921
0.11%
Subreddit type
restricted
Moderators
3
0.00%
These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
-
Title
-
Currently, official STAKE (STAKE) Telegram Stats account doesn't exist or wasn't submitted. 🔆 Submit Now
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
64 / 100
1.54%
Ahrefs Rank
181,757
6.78%
Organic Traffic (mo.)
0
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
30
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
-
Watchers
-
Forks
-
Language
-
Currently, official STAKE (STAKE) GitHub Public Repository doesn't exist or wasn't submitted. 🔆 Submit Now
r/xDai hot topics
@gnosischain posts