Moonstake Limited, headquartered in the Cayman Islands and in Singapore, was founded by partners Mitsuru Tezuka and Alex Hui in 2020 to create the largest staking pool network in Asia.
For the uninitiated, a staking pool is an aggregation of assets from multiple cryptocurrency holders to increase the likelihood of receiving block rewards for validating cryptocurrency and validating blockchain blocks.
A staking pool brings parties together to stake and then distributes block rewards for staking based each participant’s contribution.
Today we have Lawrence Lin, the newly minted CEO of Moonstake Pte. ABR had the privilege to catch up with him recently for a short Q&A.
ABR: Firstly, congratulations on being newly minted as the CEO of Moonstake. How are you feeling with this new mandate?
LL: Definitely excited! I have been in the blockchain industry for more than 4 years now, and my personal aspiration was always to push the boundaries for mass adoption in Asia, so look forward to doing this and value adding back to the crypto ecosystems through Moonstake.
ABR: Perhaps you will like to explain to our readers / listeners about the compelling nature of what Moonstake offers in this ever evolving world of staking? A bit of an overview will be helpful?
LL: I think the problem we are trying to solve is, what else can a project and their users do with their digital assets apart from trading to get gains? Our current proposition to this is to establish working relationships with good projects or institution clients that have staking requirements, in order to provide a transparent staking pool service with a secure wallet solution, so that their users can stake their digital assets in a consolidated pool for better yield easily and safely.
ABR: Cryptocurrency market capitalization in 2019 was $237.1 billion and according to analysts, this will grow to $11 trillion by 2023. Blockchain expenditures in 2019 were $2.7 billion, up 80% from the previous year.
This is expected to reach $16 billion by 2023. The blockchain technology market in 2018 was valued at $1.6 billion and growth rate is expected to grow by 70% from 2019 to 2025 and reach $57.6 billion. These are some staggering figures. Where does Moonstake fit into this narrative?
LL: It is indeed mind blowing that the crypto and blockchain industry has been expanding at an amazing speed, especially this year even with the dire COVID-19 global situation ongoing.
We aim to value add by providing a robust staking as a service with an underlying secure wallet solution, so that users can gain more from their crypto assets without the hassles and worries.
Through our expanding portfolio of projects and user staking pools, solid partnerships with local institutional experts, we are rapidly expanding our reach in Asia so that more companies and communities can gain from our platform.
ABR: In terms of products and services, Moonstake has its mobile wallet and web wallet. Perhaps you could give us a bit of an overview of these products and their role in providing easy management of crypto-related assets.
LL: One of the biggest worries in the crypto blockchain industry is safety. And that is why from day one, we decided Moonstake must have a secure mobile wallet app with online capabilities that is developed in-house with industry experts.
The mobile wallet allows users to store their digital assets inside their phone, that only they themselves have access to, and the web capabilities allow them to stake or do relevant actions accordingly. This way, users can still utilize their cryptocurrencies and gain yield on the Moonstake platform, and not worry about security.
ABR: The advent of DeFi products and staking ecosystem services has certainly created a gateway for users to maximise the usage and potential of cryptocurrencies. What’s your take on Moonstake’s approach in this area as it aims to create the largest staking pool network in Asia?
LL: We are doing this through having working collaboration with good projects, communities, and relevant institutional clients such as exchanges, custodian and investment offices. This way, we ensure an ‘all-win’ situation where all participants in the network gain in a fair and transparent manner.
ABR: Recently, Moonstake and Binarystar entered into a strategic partnership with TZ Ventures from South Korea to accelerate industry adoption of staking within Tezos’s ecosystem. Please explain to our readers / listeners about the significance of this recent development?
LL: We are very excited and appreciate Tezos’ trust in us to go into a close collaboration effort. I think the objective is aligned to provide Tezos communities a safe and transparent staking pool so that their users can benefit even more. Not only so, through the working relationships in South Korea, we will onboard more users and relevant companies from there.
ABR: A recent study reveals that by 2024, the market of security tokens will much likely exceed that of cryptocurrencies and is expected to reach $1.5 trillion in European Union (EU).
A report by the World Economic Forum (WEF) suggests that by 2027, 10% of the global GDP will rest on blockchain technology. Following this methodology, the projections are that the market of tokenized assets will be worth nearly $24 trillion, in financial assets alone, by 2027. What’s your take on this?
LL: We are already seeing much more ‘traditional’ institutional clients investing in tokenized assets such as BTC and DeFi projects already, so I believe it’s only a matter of time for worldwide mass adoption.
One of the many challenges for this however is price consistency, currently the market is still very volatile and seemingly unpredictable. I think this is where our clear proposition will help, through providing a good staking as a service, users can leverage more on their tokenized assets for gains and rewards, which in turn will make the prices less volatile and more consistent.
ABR: When it comes to real estate tokenization, it is predicted that real estate will attract $4.2 trillion in revenue through tokenization by the year 2025. In your opinion, how is the real estate tokenization ecosystem looking at the moment?
LL: I think we will see a lot more interesting use cases in the area of real estate tokenization, especially due to the COVID-19 situation where the real estate, retail and hospitality industries have taken massive beatings. This allows new opportunities in these areas to leverage on tokenization to adopt a ‘new normal’ and earnings.
ABR: Finally, the Covid19 crisis has made the need for a decentralized economy even more pertinent. A widespread adoption of decentralized, peer to peer lending could definitely reimagine the overwhelming need for capital. Crowdfunding capital could also be on the cards.
It is said that during trying times such as this, blockchain systems can provide efficiency, trust and transparency through decentralization and disintermediation to build more robust economies.
What’s your opinion on all this? What do you see in your crystal ball? Any final thoughts?
LL: If you had asked me last year or even beginning of this year if DeFi would have had become so popular, I would have said ‘no’. It has been a tough and yet amazing year for this industry as we are seeing massive interests, and many projects in the area of decentralized economy.
Unfortunately, this also means higher investment risk and price volatility, especially since many of these projects are untested without full working products yet. I will strongly advise anyone investing to do their due diligence and trade wisely without ‘FOMO-ing’.
The proposition of decentralized economy utilizing blockchain technology is clear and sound, and the market interest is there. It is now up to the projects to deliver so that the adoption rate will continue on. If there are too many failures or disappointment in the projects, then we will see another wave of ‘useless’ coins in the making.
For Moonstake, we will strive to do our due diligence to work only with good projects and institutional clients so that the staking pool rewards will not falter, providing even more required functions and features that will boost an ‘all win’ situation in this industry.
Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets.
Staking adopts Proof of Stake (PoS) as a type of consensus algorithm which allows cryptocurrency holders to increase the likelihood of receiving block rewards from its block validation transaction.
It brings together the ability to stake and ultimately distributes block rewards based on contribution.
Moonstake develops a staking pool protocol and provides business services through partners and companies.
Staking is expected to help elevate the blockchain technology and work for decentralization.
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