Lukka Partners with CoinDesk Indices to Enhance Ethereum Staking Metrics
In an exciting development for the digital asset ecosystem, U.S.-based digital asset data provider Lukka has announced a strategic partnership with CoinDesk Indices. This collaboration aims to integrate the Composite Ether Staking Rate (CESR) into Lukka’s suite of offerings, providing a robust benchmark for Ethereum staking.
The CESR is designed to measure the mean annualized staking yield achieved by Ethereum validators. This includes both consensus incentives and priority transaction fees, making it a comprehensive tool for financial institutions, asset managers, and analysts. With the CESR, these stakeholders can benchmark their relative performance in ether staking effectively.
Alan Campbell, the president of CoinDesk Indices, remarked, “Our collaboration with CoinFund on CESR delivers a critical benchmark for Ethereum staking, offering institutions a trusted and standardized rate.” This statement underscores the importance of having reliable data in the rapidly evolving landscape of digital assets.
Dan Husher, the chief data product officer at Lukka, also highlighted the significance of this partnership. He stated that the deal exemplifies a “higher standard for institutional crypto data,” emphasizing the need for accurate and reliable metrics as the sector matures.
Since Ethereum transitioned from a proof-of-work to a proof-of-stake consensus mechanism in September 2022, staking on the network has seen exponential growth. Currently, there is approximately $37 billion in total value locked (TVL) across various liquid staking protocols. These protocols allow users to earn additional yield through the issuance of liquid staking tokens (LSTs), further incentivizing participation in the staking ecosystem.
