Staking Business in South East Asia

Asia Blockchain Review
August 24, 2019

Vietnam Staking Economy was the first staking event to take place in Vietnam as well as in Southeast Asia. 

On July 28, TomoChain, Hashkey and Conflux chain, co-hosted Vietnam Staking Economy in Ho Chi Minh City. This was the first staking event in Vietnam and in Southeast Asia. With a population of 100 million, of which two-thirds was born after 1975, Vietnam now is the largest crypto market in the ASEAN region, as stated in CoinMarketCap latest report. The staking event saw 250 attendees, most of whom were familiar with trading crypto. 

While many Vietnamese crypto users are familiar with spot trading, few have attempted to stake into the chain as a means of investment. “We organize this event to educate the market about staking, and to introduce some good staking projects to the Vietnamese crypto community. This is an ideal option for long-term investment in crypto. People get daily income right to their wallet,” said Nguyen Bui, Director of Partnership at TomoChain. 

TomoChain is the top public blockchain in Vietnam. With PoS Voting consensus, it allows investors to stake into its 150 masternode with an attractive interest rate of 33% for masternode owners and 10% for voters.

Conflux Chain, a PoW platform that allows staking, is on testnet with more than 11000 nodes and performance reaching as high as 3500 TPS. Conflux Chain is an influential project in China, raising US$35 million last year. Ivy Qi, marketing director of ConfluxChain, believes that Vietnam will be a major market for Conflux Chain. She stated:

This is our first event in Vietnam. We are happy to co-host with TomoChain and Hashkey on the first staking event in Vietnam. We are building the Vietnamese community here and we will have more marketing activities toward the Vietnamese investors

Hashkey Hub, a staking services app of Hashkey group, listed TOMO on their app for Hashkey users to stake to TomoChain. As a big player in the staking business in China and the world, Hashkey hopes they can win the Vietnam’s staking market by cooperating with TomoChain. Molly, marketing director of Hashkey, shared about the ecosystem of Hashkey group, including staking the services of Hashkey, called Hashquark. Along with Hashkey, John Riggins, head of international development of BTC Inc, shared about Echo protocol 

CoboWallet is another way of staking on crypto Wallet. Users can stake with a small amount of Token and be rewarded through the wallet itself. Mr. Giang Nguyen, country manager of Cobo Wallet in Vietnam, showed the excitement with the CoboWallet campaign in mobilizing people to stake in TomoChain, which is supported by CoboWallet. 

Also at the event, SenCoinEx, a crypto exchange from Japan, presented their ecosystem of exchange and loyalty points. SenCoinEX will run the masternode on TomoChain to strengthen its partnership with the top blockchain project in Vietnam. 

Investors can stake on Wallet as well as on Exchange with Soft Staking services from Kucoin Exchanges. This means investors can keep their coins on Exchange and receive rewards daily. Kucoin currently supports soft staking on several PoS platforms including TomoChain. 

The staking community in Vietnam is continuing to grow. Those interested can visit the website www.stakingvietnam.com  or join Telegram: https://t.me/vietnamstaking 


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