The State of ATOM Staking: August 2022 Report

pSTAKE Finance
5 min readAug 19, 2022

ATOM continues to be the shining star of Cosmos Hub, as it helps secure the overall network while acting as the catalyst for DeFi across the entire chain and interconnected IBC ecosystem. As users continue to stake, the network becomes more resilient and encourages more activity.

Below is our latest analysis on key ATOM staking statistics over the past month, providing you with a comprehensive overview of activity on Cosmos Hub.

ATOM Overview

Below are key data points surrounding general ATOM token statistics:

  • Total Market Cap: $3.17B+
  • 24-Hr Trading Volume: $398M+
  • Unique Wallet Addresses: 1.28M+
  • Circulating Supply: 292M+ tokens

Cosmos Hub Overview

The below information displays key data points surrounding IBC activity on Cosmos Hub over the last 30 days:

  • IBC Volume (30D): $147M+
  • IBC Transfers (30D): 267K+
  • Active Zones (30D): 48
  • Block Height: 11.70M

Staking Market Cap

At the time of writing, Cosmos Hub (ATOM) ranks 9th relative to other cryptocurrency assets by staking market cap, maintaining its position from last month, and currently sitting at $2.29B+. When it comes to its staking ratio, it’s ranked 21 out of 87 compared to the other PoS networks, remaining relatively steady since last month.

Staking Ratio and Stats

The last 30 days have been positive for ATOM, as its staking ratio has increased quite significantly by just over 3%, now totaling 65.58%. This is likely due to various factors, including increased adoption for ATOM & Cosmos Hub, in addition to a general rise in sentiment across the overall cryptocurrency market.

200M+ ATOM tokens are currently bonded relative to its circulating supply of 305M+.

This is a huge net positive for ATOM, as it continues to move closer to reaching its peak staking ratio of ~75% back in 2020.

ATOM Delegates

Unique delegates are a key factor in determining the level of adoption for ATOM staking on Cosmos Hub, as it demonstrates the rise in interest and commitment to help secure the chain. At the time of writing, the number of ATOM delegates now totals 497,372, which is an almost 2% increase from only a month ago.

ATOM Liquid Staking Ecosystem & Stats

pSTAKE and StaFi’s liquid-staked asset offerings remain the only two available on the market today, which continue to provide high staking APYs and grow in overall adoption and activity.

Numbers for both protocols are looking stronger when compared to last month, demonstrating an increase in demand for these assets and liquid staking in general.

Validator Stats

Out of its 431 validators, Cosmos Hub has 175 that are currently active, providing security to its network. Similar to last month, running a validator node provides an average APR of ~19%.

*While the amount controlled has slightly varied over the last month, the top 23 validators still cumulatively hold over 67.1% of all staked ATOM (governance consensus threshold).

Nakamoto Coefficient

The Nakamoto Coefficient is a very important metric that notes the concentration of stake across a blockchain’s validator set, highlighting the lowest number of validators that need to join forces to maliciously affect the chain.

A larger coefficient value (relative to the total number of active validators) means that staked tokens are more evenly distributed across network validators, making the chain more decentralized and secure.

Since the last report in July, the Nakamoto Coefficient has remained at 7 with its 175 active validators.

Closing Note

We’d like to extend our thanks to the Persistence and Cosmos communities for reading through this month’s report. The goal of this report is to provide you with an informative, comprehensive overview of ATOM staking statistics in one place.

Make sure to stay tuned on our blog and social media channels to get the latest scoop on what else is coming down the road, including next month’s ATOM staking report.

About pSTAKE

pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive staked underlying representative tokens (stkASSETs) which can be used to explore additional yield opportunities across DeFi.

At present, pSTAKE supports Binance (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to support more chains and assets in the future (SOL, and AVAX).

Developed by Persistence

Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.

Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.

Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.

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