It’s no secret that the crypto narrative in 2024 has centered around institutional adoption. We started off the year strong in January with the Bitcoin ETF, which had historic inflows, and the momentum continued with the launch of the Ethereum ETF in late July.
While these are significant milestones for our industry, both of these products are missing one thing: yield that scales. Yield is essential for the growth of DeFi. Without it, tens of billions of dollars in capital would not be utilizing liquid staking solutions, lending/borrowing protocols, decentralized exchanges, and numerous other DeFi applications.
At Dinero, we understand the importance of yield. This is evident in everything we do, from accumulating yield-generating DeFi assets for our treasury, to launching Hidden Hand for governance token incentives, and creating pxCVX to simplify vlCVX usage.
After seeing an opportunity to leverage our expertise in the liquid staking vertical, we launched pxETH, a DeFi-native product optimizing yield across the risk curve. We do this by giving users a choice: DeFi farmers can forgo their ETH staking yield to farm protocols like Balancer and Curve and risk-averse users can stake their pxETH as apxETH to earn a boosted ETH staking yield. Due to this approach, pxETH has remained the highest yielding ETH LST (~9% APR on average) since its launch late last year.
Despite pxETH’s edge from a yield perspective, we knew that the liquid staking vertical was competitive. Recognizing this, we identified another user base that needs access to ETH staking yield: the suits. That’s when the long journey to find partners and build ipxETH began.
ipxETH scales the design of staked ETH for institutional use, offering a compliant entry point into what will be the highest-yielding Ethereum staking product for accredited investors.
Unlike other institutionally accessible Ethereum products, ipxETH is purpose-built to meet the needs of opportunistic institutions who are apt-enough not to leave carry on the table, by addressing the demand for staking yield without the complexities typically associated with DeFi. Not only that, but Dinero’s design also allows users to earn higher than the average staking yield – making it more competitive than any and every currently available market access product.
As highlighted by Bloomberg, we collaborated with Laser Digital Asset Management and Galaxy to ensure that ipxETH meets the highest standards, providing institutional investors with the confidence to participate in our industry.
By bridging the gap between DeFi's yield opportunities and institutional compliance requirements, ipxETH is set to attract a new wave of market participants, including registered investment advisors (RIAs) and brokers. This innovation not only enhances yield opportunities but also expands the accessibility and appeal of DeFi to a broader institutional audience.
Important information about the strategy mentioned in this blog post:
Pre-Marketing communication: This document is a pre-marketing communication addressed exclusively to professional and institutional investors residing in eligible jurisdictions. This document is not a contractually binding document or an information document required by any legislative provision, and is not sufficient to take an investment decision. Please refer to the offering documentation of the relevant product before making any final investment decisions. The product and/or strategy described herein shall be accessible only to institutional investors residing in eligible jurisdictions and shall not be accessible to, amongst others, (i) investors residing/domiciled in the United States, Canada, Australia, or Japan, and/or (ii) retail clients/consumers in any jurisdiction.
No offering: Nothing in this document amounts to, or should be construed as, an offer, placement, invitation or general solicitation to invest in any product or to buy or sell securities, digital assets, or to engage in any other related or unrelated transactions. This document was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. This document does not purport to contain all of the information that may be required to evaluate any potential transaction and should not be relied on in connection with any such potential transaction.
Non-reliance: The document is not a recommendation and should not be relied upon as accounting, legal, tax or investment advice. You should consult your tax, legal, accounting or other advisers separately. Neither this document nor the information contained in it is for publication or distribution, directly or indirectly, in or into any jurisdiction where to do so might constitute a violation of applicable law. None of Nomura, Laser Digital, their group companies or any of their respective directors, officers, employees, partners, shareholders, advisers, agents or affiliates (together the "Sponsor Parties") make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document, and nothing contained in it shall be relied upon as a promise or representation whether as to past or future performance. To the maximum extent permitted by law, none of the Sponsor Parties shall be liable (including in negligence) for direct, indirect or consequential losses, damages, costs or expenses arising out of or in connection with the use of or reliance on this document. The information contained in this document is unaudited. It is published for the assistance of recipients, but is not to be relied upon as authoritative and is not to be substituted for the exercise of one’s own judgment.
Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “anticipate”,“project”, “estimate”, “intend”, “continue” or “believe” (or the negatives thereof ) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Laser Digital or the actual performance of the strategy mentioned herein may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. The key facts and service providers referenced here are subject to change. Some statements reflect Laser Digital's views, estimates, opinions, or predictions based on proprietary models and assumptions, particularly concerning the digital asset market. There is no guarantee that these views, estimates, opinions, or predictions are accurate or will be realized. If these assumptions or models are incorrect or circumstances change, the strategy’s actual performance may differ significantly and be lower than the estimated performance.
Digital assets: Digital assets regulation is still developing across all jurisdictions and governments may in the future restrict the use and exchange of any or all digital assets. Digital assets are generally not backed nor supported by any government or central bank, are not insured by depositor nor investor guarantees schemes and do not have the same protections countries’ bank deposits may have and are more volatile than traditional currencies and/or other investments. Transacting in digital assets carries the risk of market manipulation and cybersecurity failures such as the risk of hacking, theft, programming bugs, and accidental loss. Differing forms of digital assets may carry different risks. In certain circumstances it may not be possible to liquidate a digital assets position in a timely manner at a reasonable price. The volatility and unpredictability of the price of digital assets may lead to significant and immediate losses.
Risks: An investment in any of the products mentioned herein involves significant risks, including loss of an investor’s entire capital investment. Alternative investment strategies are intended only for investors who understand and accept the risks associated with investments in such products and these products are not suitable for all investors. Investments in digital assets are high-risk investments and you should not expect to be protected if something goes wrong. The volatility and unpredictability of the price of digital assets may lead to significant and immediate losses. You are invited to do all the necessary research and learn before investing in digital assets. In considering any performance data in this document, you should bear in mind that past or targeted performance is not indicative of future results, and there can be no assurance that any of the strategy would achieve its investment objectives, comparable results or that target returns would be met. Nothing herein is intended to imply that the Laser’s investment methodology may be considered “conservative”, “safe”, “risk free”, or “risk averse.” The capital and/or return are not guaranteed, nor are they protected.
Performance: Figures presented in this document may refer to the past or simulated past performance. Past and simulated past performance is not a reliable indicator nor a guide of future performance. Where the information contains an indication of future performance, such forecasts are not a reliable indicator of future performance. Expected, targeted and/or estimated future returns are not guaranteed and a loss of the entire original capital may occur. The price and value of investments referred to in this document may fluctuate. Current performance may be lower or higher than the performance data quoted. Where not relevant or representative, outliers may be excluded. Any future performance is subject to taxation which depends on the personal situation of each investor, and which may change in the future. The actual performance of a strategy may differ from the performance of the underlying asset and such difference may be material. Neither the actual past performance of the strategy and/or the underlying asset nor the hypothetical performance of the strategy or the underlying asset is an indication or guarantee of similar performance of the strategy in the future; therefore, no representation is made that any such performance / returns will be achieved by the strategy. Any target or estimated return of the strategy or any product or service offered by Laser Digital is provided for illustrative purposes only, is unaudited and does not represent actual returns, but is instead provided to reflect Laser Digital preliminary view of potential and/or targeted investment returns
For further important information, please read carefully the risk warning and disclosure available here: Disclaimer - Laser Digital
About Galaxy:
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
It’s no secret that the crypto narrative in 2024 has centered around institutional adoption. We started off the year strong in January with the Bitcoin ETF, which had historic inflows, and the momentum continued with the launch of the Ethereum ETF in late July.
While these are significant milestones for our industry, both of these products are missing one thing: yield that scales. Yield is essential for the growth of DeFi. Without it, tens of billions of dollars in capital would not be utilizing liquid staking solutions, lending/borrowing protocols, decentralized exchanges, and numerous other DeFi applications.
At Dinero, we understand the importance of yield. This is evident in everything we do, from accumulating yield-generating DeFi assets for our treasury, to launching Hidden Hand for governance token incentives, and creating pxCVX to simplify vlCVX usage.
After seeing an opportunity to leverage our expertise in the liquid staking vertical, we launched pxETH, a DeFi-native product optimizing yield across the risk curve. We do this by giving users a choice: DeFi farmers can forgo their ETH staking yield to farm protocols like Balancer and Curve and risk-averse users can stake their pxETH as apxETH to earn a boosted ETH staking yield. Due to this approach, pxETH has remained the highest yielding ETH LST (~9% APR on average) since its launch late last year.
Despite pxETH’s edge from a yield perspective, we knew that the liquid staking vertical was competitive. Recognizing this, we identified another user base that needs access to ETH staking yield: the suits. That’s when the long journey to find partners and build ipxETH began.
ipxETH scales the design of staked ETH for institutional use, offering a compliant entry point into what will be the highest-yielding Ethereum staking product for accredited investors.
Unlike other institutionally accessible Ethereum products, ipxETH is purpose-built to meet the needs of opportunistic institutions who are apt-enough not to leave carry on the table, by addressing the demand for staking yield without the complexities typically associated with DeFi. Not only that, but Dinero’s design also allows users to earn higher than the average staking yield – making it more competitive than any and every currently available market access product.
As highlighted by Bloomberg, we collaborated with Laser Digital Asset Management and Galaxy to ensure that ipxETH meets the highest standards, providing institutional investors with the confidence to participate in our industry.
By bridging the gap between DeFi's yield opportunities and institutional compliance requirements, ipxETH is set to attract a new wave of market participants, including registered investment advisors (RIAs) and brokers. This innovation not only enhances yield opportunities but also expands the accessibility and appeal of DeFi to a broader institutional audience.
Important information about the strategy mentioned in this blog post:
Pre-Marketing communication: This document is a pre-marketing communication addressed exclusively to professional and institutional investors residing in eligible jurisdictions. This document is not a contractually binding document or an information document required by any legislative provision, and is not sufficient to take an investment decision. Please refer to the offering documentation of the relevant product before making any final investment decisions. The product and/or strategy described herein shall be accessible only to institutional investors residing in eligible jurisdictions and shall not be accessible to, amongst others, (i) investors residing/domiciled in the United States, Canada, Australia, or Japan, and/or (ii) retail clients/consumers in any jurisdiction.
No offering: Nothing in this document amounts to, or should be construed as, an offer, placement, invitation or general solicitation to invest in any product or to buy or sell securities, digital assets, or to engage in any other related or unrelated transactions. This document was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. This document does not purport to contain all of the information that may be required to evaluate any potential transaction and should not be relied on in connection with any such potential transaction.
Non-reliance: The document is not a recommendation and should not be relied upon as accounting, legal, tax or investment advice. You should consult your tax, legal, accounting or other advisers separately. Neither this document nor the information contained in it is for publication or distribution, directly or indirectly, in or into any jurisdiction where to do so might constitute a violation of applicable law. None of Nomura, Laser Digital, their group companies or any of their respective directors, officers, employees, partners, shareholders, advisers, agents or affiliates (together the "Sponsor Parties") make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document, and nothing contained in it shall be relied upon as a promise or representation whether as to past or future performance. To the maximum extent permitted by law, none of the Sponsor Parties shall be liable (including in negligence) for direct, indirect or consequential losses, damages, costs or expenses arising out of or in connection with the use of or reliance on this document. The information contained in this document is unaudited. It is published for the assistance of recipients, but is not to be relied upon as authoritative and is not to be substituted for the exercise of one’s own judgment.
Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “anticipate”,“project”, “estimate”, “intend”, “continue” or “believe” (or the negatives thereof ) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Laser Digital or the actual performance of the strategy mentioned herein may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. The key facts and service providers referenced here are subject to change. Some statements reflect Laser Digital's views, estimates, opinions, or predictions based on proprietary models and assumptions, particularly concerning the digital asset market. There is no guarantee that these views, estimates, opinions, or predictions are accurate or will be realized. If these assumptions or models are incorrect or circumstances change, the strategy’s actual performance may differ significantly and be lower than the estimated performance.
Digital assets: Digital assets regulation is still developing across all jurisdictions and governments may in the future restrict the use and exchange of any or all digital assets. Digital assets are generally not backed nor supported by any government or central bank, are not insured by depositor nor investor guarantees schemes and do not have the same protections countries’ bank deposits may have and are more volatile than traditional currencies and/or other investments. Transacting in digital assets carries the risk of market manipulation and cybersecurity failures such as the risk of hacking, theft, programming bugs, and accidental loss. Differing forms of digital assets may carry different risks. In certain circumstances it may not be possible to liquidate a digital assets position in a timely manner at a reasonable price. The volatility and unpredictability of the price of digital assets may lead to significant and immediate losses.
Risks: An investment in any of the products mentioned herein involves significant risks, including loss of an investor’s entire capital investment. Alternative investment strategies are intended only for investors who understand and accept the risks associated with investments in such products and these products are not suitable for all investors. Investments in digital assets are high-risk investments and you should not expect to be protected if something goes wrong. The volatility and unpredictability of the price of digital assets may lead to significant and immediate losses. You are invited to do all the necessary research and learn before investing in digital assets. In considering any performance data in this document, you should bear in mind that past or targeted performance is not indicative of future results, and there can be no assurance that any of the strategy would achieve its investment objectives, comparable results or that target returns would be met. Nothing herein is intended to imply that the Laser’s investment methodology may be considered “conservative”, “safe”, “risk free”, or “risk averse.” The capital and/or return are not guaranteed, nor are they protected.
Performance: Figures presented in this document may refer to the past or simulated past performance. Past and simulated past performance is not a reliable indicator nor a guide of future performance. Where the information contains an indication of future performance, such forecasts are not a reliable indicator of future performance. Expected, targeted and/or estimated future returns are not guaranteed and a loss of the entire original capital may occur. The price and value of investments referred to in this document may fluctuate. Current performance may be lower or higher than the performance data quoted. Where not relevant or representative, outliers may be excluded. Any future performance is subject to taxation which depends on the personal situation of each investor, and which may change in the future. The actual performance of a strategy may differ from the performance of the underlying asset and such difference may be material. Neither the actual past performance of the strategy and/or the underlying asset nor the hypothetical performance of the strategy or the underlying asset is an indication or guarantee of similar performance of the strategy in the future; therefore, no representation is made that any such performance / returns will be achieved by the strategy. Any target or estimated return of the strategy or any product or service offered by Laser Digital is provided for illustrative purposes only, is unaudited and does not represent actual returns, but is instead provided to reflect Laser Digital preliminary view of potential and/or targeted investment returns
For further important information, please read carefully the risk warning and disclosure available here: Disclaimer - Laser Digital
About Galaxy:
Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
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DineroIntroducing superETH—an ETH LST for Optimism Superchain
Today we’re excited to launch superETH, an ETH LST built for the Optimism Superchain, launched in collaboration with Ink. superETH delivers DeFi’s highest ETH staking yield (~4% APR) to the Superchain’s expanding ecosystem, starting with Ink, Optimism, Base, and Mode. Note: As part of this launch, we’ve disabled minting of iETH and encourage iETH users to migrate to superETH. Details below.Why superETH?superETH is the evolution of iETH, Ink’s previous LST, upgraded to serve as a unified staki...
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