Compound chooses Figment Networks as Staking Partner
Compound has chosen Figment Networks as their staking and infrastructure partner on Proof of Stake networks, starting with Livepeer. The partnership allows Compound to earn staking rewards from their crypto investments while fully supporting the companies, networks, and teams they back. Compound chose Figment Networks because of their experience in compliance and reporting, and proven track record of security and uptime.
In addition, Compound and Figment Networks both believe that blockchain network participation must include more than just staking and validating. We have the opportunity to grow networks via active participation, including building software tools like Hubble, creating compliance tools like Rewards Reporting, governance, and community building.
Compound selected Figment Networks as their staking and infrastructure partner across multiple Proof of Stake networks. This partnership allows Compound to earn rewards from their investments while fully supporting the companies and teams they back. Compound chose Figment because of aligned values, experience in compliance, accounting, and reporting, and a proven track record of security and uptime.
“As long-term investors in a number of emerging blockchain networks, we are constantly looking for ways to support the growth of these projects beyond investing capital. Figment is our chosen staking partner because of their similar dedication to long-term network success, while ensuring we are properly compliant and protected when staking our token investments.”
— Josh Nussbaum, Compound
We chose to work with Compound because they are a founder friendly team of long-term supporters and investors in crypto projects. They understand the importance of backing teams at the earliest stages and are clear headed about the state of blockchain today and where it can go. They have been holding their Livepeer LPT tokens and participating in the Livepeer network, staking them via Figment’s professional staking service.
Further, Compound recently followed on and participated in Livepeer Inc.’s latest $8M raise in support of further Livepeer ecosystem development: the Livepeer protocol, network, and software for the scaled video applications that will drive broader adoption of the Livepeer network.
Compound and Figment know the importance of what the Livepeer team is building. By staking and transcoding, we’re increasing Compound’s exposure to LPT, Livepeer’s underlying digital asset. Today we’re benefiting from and helping to grow the Livepeer network, while looking forward to the decentralized marketplaces of tomorrow.
About Figment Networks
Figment Networks offers token delegation, staking infrastructure, compliance tools for long-term token holders and Proof of Stake (PoS) blockchains.
Combining over 20 years of experience providing enterprise-grade data center, cloud security, database, and network solutions with our passion for PoS-based blockchains led us to start Figment Networks.
In addition to running best in class validator infrastructure we are also active network participants via open source software tool development, analysis, community and governance. Our IDC and technical operations are based in Toronto, Canada with team members located in New York, Chicago, Boston, Montreal and Jackson Hole.
Figment Networks: Your Trusted Staking Partner