Doing y(our) research together. 🦇🔊 Ecosystem + 🚀Rocket Pool 👩🚀🌐👨🚀 education + web3 advocacy. StakeRocketPool.xyz
Doing y(our) research together. 🦇🔊 Ecosystem + 🚀Rocket Pool 👩🚀🌐👨🚀 education + web3 advocacy. StakeRocketPool.xyz
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TL;DR: The CEO of Canada’s largest public Ethereum-only investment company, ETH Capital, shared his story and how ETH Capital plans to grow ahead as an Ethereum infrastructure provider.
ETH Capital has a public ETH Staking dashboard they’d like feedback on and they plan to join the Rocket Pool node operator ecosystem ahead if you had to ask me to guess their next steps.
Rocket Pool Community Call ft. Ether Capital - Twitter Space Link
Before we jump into the call notes we transcribed, we want to share our view of what we learned from Brian’s talk.
Institutional investors are considering becoming infrastructure providers through Rock Pool and this is exciting news to us. Our research has proven correct in that the Ethereum Shanghai upgrade that will enable staked ETH to be unlocked will be a bullish indicator for risk-averse investors (80%+ of friends I talk to) to stake their Ethereum at the risk-free rate of return for securing Ethereum’s blockchain.
We believe that as more large and small investors alike decide to stake their Ethereum, many of these investors will find Rocket Pool as one of their top options for self-custody Ethereum staking with high rates of return through running Rocket Pool minipool validator nodes. This is where our years of research have led us and we are now seeing other key influencers join the community and this makes us happy.
Brian Mosoff has been in crypto for a decade and his firm sees the importance of decentralization as a critical element to Ethereum’s value proposition as the most important permissionless smart-contract blockchain.
Now to the highlights of Brian’s insights shared from his institutional investor point of view.
Brian found out about Bitcoin in 2012 and was around Vitalik in 2013 with the Ethereum White Paper in Tornoto, CA at the same time. Brian’s an OG and he understands now that selling ETH to traditional investors can be a profitable public company.
ETH Capital has 45,000 ETH with 37,000 staked today. They have three strategies to be successful:
Net long ETH - acquire more Ethereum and hold long term.
Make asset productive - staking Ethereum
Build business lines off of their internal tools - Staking Dashboard
ETH Capital wants to be an Ethereum infrastructure provider (aka Rocket Pool node operator) but not yet an LSD holder.
ETFs are unlikely to hold LSD tokens because they haven’t seen regulators give input yet and there are accounting challenges.
How do you mark the value of the LSDs with public disclosure? Since there isn’t clarity yet on these two categories, they are not interested right now in LSDs.
The ETH Shanghai upgrade coming in ~20 days is net bullish and will enable ETH Capital to stack more.
ETH Capital has ~10,000 ETH more they want to stake after the unlock.
ETH Capital plans to spin up its own validators and run infrastructure
Diversification of node operators in different countries and regions will likely be important ahead.
Lastly, here are the full call notes.
Rocket Pool Community Call ft. Ether Capital - Twitter Space Link
Brian Mosoff
2012 Introduction, met a guy selling his house and all of his assets for Bitcoin. He thought he was weird, but started to look into Bitcoin.
2013 - What is Bitcoin? MasterCoin, LiteCoin, + around. Toronto, Ethereum white paper floats around. Side chains around Bitcoin were the big idea at the time. Brian goes further down the crypto rabbit hole
2017 - ETH Capital formation ideation. They had a question; Could they create an access point for traditional markets, like a stock?
Exposure to native assets and the underlying businesses - exposure to picks and shovels as well as the assets.
The whole point of crypto is to replace the agency. Replace the agency with game theory and a protocol. You don’t need people in the middle to extract rent.
There are other people who do want something that is easy and clean with help.
2018 - Brian joins ETH Capital
Public listed company in Canada - ETHC
3 prong strategy
Net long ETH
Make asset productive
Build business lines off of their internal tools
45,000 total ETH - 37,000 ETH Staked
Thanks for your time. Cheers to community education, tools, and support!
TL;DR: The CEO of Canada’s largest public Ethereum-only investment company, ETH Capital, shared his story and how ETH Capital plans to grow ahead as an Ethereum infrastructure provider.
ETH Capital has a public ETH Staking dashboard they’d like feedback on and they plan to join the Rocket Pool node operator ecosystem ahead if you had to ask me to guess their next steps.
Rocket Pool Community Call ft. Ether Capital - Twitter Space Link
Before we jump into the call notes we transcribed, we want to share our view of what we learned from Brian’s talk.
Institutional investors are considering becoming infrastructure providers through Rock Pool and this is exciting news to us. Our research has proven correct in that the Ethereum Shanghai upgrade that will enable staked ETH to be unlocked will be a bullish indicator for risk-averse investors (80%+ of friends I talk to) to stake their Ethereum at the risk-free rate of return for securing Ethereum’s blockchain.
We believe that as more large and small investors alike decide to stake their Ethereum, many of these investors will find Rocket Pool as one of their top options for self-custody Ethereum staking with high rates of return through running Rocket Pool minipool validator nodes. This is where our years of research have led us and we are now seeing other key influencers join the community and this makes us happy.
Brian Mosoff has been in crypto for a decade and his firm sees the importance of decentralization as a critical element to Ethereum’s value proposition as the most important permissionless smart-contract blockchain.
Now to the highlights of Brian’s insights shared from his institutional investor point of view.
Brian found out about Bitcoin in 2012 and was around Vitalik in 2013 with the Ethereum White Paper in Tornoto, CA at the same time. Brian’s an OG and he understands now that selling ETH to traditional investors can be a profitable public company.
ETH Capital has 45,000 ETH with 37,000 staked today. They have three strategies to be successful:
Net long ETH - acquire more Ethereum and hold long term.
Make asset productive - staking Ethereum
Build business lines off of their internal tools - Staking Dashboard
ETH Capital wants to be an Ethereum infrastructure provider (aka Rocket Pool node operator) but not yet an LSD holder.
ETFs are unlikely to hold LSD tokens because they haven’t seen regulators give input yet and there are accounting challenges.
How do you mark the value of the LSDs with public disclosure? Since there isn’t clarity yet on these two categories, they are not interested right now in LSDs.
The ETH Shanghai upgrade coming in ~20 days is net bullish and will enable ETH Capital to stack more.
ETH Capital has ~10,000 ETH more they want to stake after the unlock.
ETH Capital plans to spin up its own validators and run infrastructure
Diversification of node operators in different countries and regions will likely be important ahead.
Lastly, here are the full call notes.
Rocket Pool Community Call ft. Ether Capital - Twitter Space Link
Brian Mosoff
2012 Introduction, met a guy selling his house and all of his assets for Bitcoin. He thought he was weird, but started to look into Bitcoin.
2013 - What is Bitcoin? MasterCoin, LiteCoin, + around. Toronto, Ethereum white paper floats around. Side chains around Bitcoin were the big idea at the time. Brian goes further down the crypto rabbit hole
2017 - ETH Capital formation ideation. They had a question; Could they create an access point for traditional markets, like a stock?
Exposure to native assets and the underlying businesses - exposure to picks and shovels as well as the assets.
The whole point of crypto is to replace the agency. Replace the agency with game theory and a protocol. You don’t need people in the middle to extract rent.
There are other people who do want something that is easy and clean with help.
2018 - Brian joins ETH Capital
Public listed company in Canada - ETHC
3 prong strategy
Net long ETH
Make asset productive
Build business lines off of their internal tools
45,000 total ETH - 37,000 ETH Staked
Thanks for your time. Cheers to community education, tools, and support!
Current - self-custody with a multi-sig (Gnosis Safe). Hardware wallets are managed by the directors and leadership.
In the future, they want to decentralize more
Started ETH staking with Staked (acquired by Kraken)
Now they’re with Figment - deployed through their multi-sig
What’s appropriate to do when?
Disclosure quarterly
Are they holding additional tokens?
ETFs are unlikely to hold LSD tokens, but they’re looking at their options from here.
We haven’t yet seen regulators give input on LSDs.
How do you mark the value of the LSDs with public disclosure and accounting firms - this is a different process, how liquid is the market, can you mark the assets correctly?
Is it possible for ETH Capital to be a Rocket Pool node operator?
They want to do all of this stuff, the question is how. Self-regulation they have to do that’s responsible.
They want to spin up their own validators and run infrastructure.
The future Brian sees.
Multiple custodians and staking providers
OFAC compliance and different requirements per region - we want decentralization to secure the network.
Twitter Introduction
Available for beta testing now for ETH node validators today.
They built this for their CFO who needed to interpret the consensus rewards, execution rewards, and prices marked at the same time every day - to be compliant. They built this dashboard to do their tax returns, could they use this to get more public basic stats like missed attestations or did we get a block proposed on a certain day?
He hopes the tool can do more to hold infrastructure providers accountable.
Targeted product at Institutions - but they want community feedback too. It’s in the wild and they’d love feedback.
ETH Shanghai Upgrade and Unlock
How will withdrawals affect their business?
The unlock will help ETH Capital to stack more. They have 10,000 ETH they want to stake once the unlock occurs. They can’t stake more because they need to pay their bills and be reasonable.
The unlock is bullish for more staking for anyone who’s holding ETH that’s not trading it stake it like a bond that’s held until maturity, lol not like the FED bank notes.
ETH Capital will stake more and they will diversify their infrastructure.
Canadian Government Approach to Crypto?
Structured Products - really good access for retail, ETH Capital listed, and others. Just a few Bitcoin miners are listed in the US. Retail demand has decreased since 2022.
Canada has stock ETFs and the US has futures-based ETFs only, not stock ETFs not.
There is a path to registration for trading venues (Exchanges) - there is a path to being compliant.
Banking access is still hard to get, but not as bad as in the US.
Companies need to ask for permission and he thinks Canada is doing well with overall crypto regulation.
DeFi hasn’t been approved.
Canadian Crypto Infrastructure
Not a ton of custodian options in Canada.
Do we enter a world of staking decentralization based on the country?
Maybe we need staking decentralization by country and if we see more hostility to this asset class, some countries will continue to choke the industry.
He could see that regulators attempt to choke point staking with new rules that limit investors’ options.
How can the Rocket Pool community stay in touch?
ETH Capital has a Discord, Twitter, and they want feedback on from solo stakers so they can build a tool that’s helpful for solo stakers.
Tweet at Brian (@brianmosoff) if you want to get ahold of him. Brian wants to help ensure Ethereum continues to be the best smart contract platform 🚀.
Current - self-custody with a multi-sig (Gnosis Safe). Hardware wallets are managed by the directors and leadership.
In the future, they want to decentralize more
Started ETH staking with Staked (acquired by Kraken)
Now they’re with Figment - deployed through their multi-sig
What’s appropriate to do when?
Disclosure quarterly
Are they holding additional tokens?
ETFs are unlikely to hold LSD tokens, but they’re looking at their options from here.
We haven’t yet seen regulators give input on LSDs.
How do you mark the value of the LSDs with public disclosure and accounting firms - this is a different process, how liquid is the market, can you mark the assets correctly?
Is it possible for ETH Capital to be a Rocket Pool node operator?
They want to do all of this stuff, the question is how. Self-regulation they have to do that’s responsible.
They want to spin up their own validators and run infrastructure.
The future Brian sees.
Multiple custodians and staking providers
OFAC compliance and different requirements per region - we want decentralization to secure the network.
Twitter Introduction
Available for beta testing now for ETH node validators today.
They built this for their CFO who needed to interpret the consensus rewards, execution rewards, and prices marked at the same time every day - to be compliant. They built this dashboard to do their tax returns, could they use this to get more public basic stats like missed attestations or did we get a block proposed on a certain day?
He hopes the tool can do more to hold infrastructure providers accountable.
Targeted product at Institutions - but they want community feedback too. It’s in the wild and they’d love feedback.
ETH Shanghai Upgrade and Unlock
How will withdrawals affect their business?
The unlock will help ETH Capital to stack more. They have 10,000 ETH they want to stake once the unlock occurs. They can’t stake more because they need to pay their bills and be reasonable.
The unlock is bullish for more staking for anyone who’s holding ETH that’s not trading it stake it like a bond that’s held until maturity, lol not like the FED bank notes.
ETH Capital will stake more and they will diversify their infrastructure.
Canadian Government Approach to Crypto?
Structured Products - really good access for retail, ETH Capital listed, and others. Just a few Bitcoin miners are listed in the US. Retail demand has decreased since 2022.
Canada has stock ETFs and the US has futures-based ETFs only, not stock ETFs not.
There is a path to registration for trading venues (Exchanges) - there is a path to being compliant.
Banking access is still hard to get, but not as bad as in the US.
Companies need to ask for permission and he thinks Canada is doing well with overall crypto regulation.
DeFi hasn’t been approved.
Canadian Crypto Infrastructure
Not a ton of custodian options in Canada.
Do we enter a world of staking decentralization based on the country?
Maybe we need staking decentralization by country and if we see more hostility to this asset class, some countries will continue to choke the industry.
He could see that regulators attempt to choke point staking with new rules that limit investors’ options.
How can the Rocket Pool community stay in touch?
ETH Capital has a Discord, Twitter, and they want feedback on from solo stakers so they can build a tool that’s helpful for solo stakers.
Tweet at Brian (@brianmosoff) if you want to get ahold of him. Brian wants to help ensure Ethereum continues to be the best smart contract platform 🚀.
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