Sharplink explores the $3.6 billion staking portion of the Ethereum Treasury Department at Linea, the CEO says

Sharplink Gaming will explore betting the undiscovered portion of Ethereum Layer-2 network Linea's $3.6 billion Ethereum holdings when it hits the mainnet on September 10th.

said Joseph Chalom, Sharplink co-CEO Decryption The finance company is currently immersing almost the entire holding through Custodian, Anchorage and Coinbase. However, as the company matures, it aims to diversify staking vehicles that it uses to seek higher yield opportunities.

“When you hold billions of dollars of ETH and look at your staking portfolio, you'll have the ability to deploy it through Linea's staking opportunities,” Charom said. Decryption. “And that's really, really important. Not just for the Consensus, but also for the Linea Consortium. And if there's an opportunity for Sharplink to get better yields through better yields, higher risk-adjusted yields, we do that.”

“Sharplink has been staking our ETH after purchasing through a combination of native staking and liquid staking tokens,” he added. “As we expand our potential staking opportunities, we will actively consider Linear-based staking opportunities.”

The CO-CEO emphasizes the importance of driving real-world activities into projects “placed at Ethereum” and Linea is one of them. He explained that Ethereum prices should be increased by promoting high-quality activities towards these types of projects.

“When we say we're here to support Ethereum, we're here to support Ethereum and the L2 that comes from it,” he added. “In addition to assigning tokens to Linea Bootstraping (as part of Linea Consortium), we also have the potential opportunities (exploration) in providing staking and liquidity, given how much ETH is desired as the Treasury.”

Back in July, Sharplink joins Linea Consortium–A group of companies that manage 75% of the Linea token distribution. Chalom added that in order for the consortium to be “mission alignment” and make Linea a “very successful” Layer-2 network, launching tokens “bootstraps” the network with more than 80% of the supply used to support on-chain projects.

Linea creator Consensys is led by CEO Joe Lubin, co-founder of Ethereum and chairman of Sharplink's board of directors. Thus, it is natural that Linea aims to support the Ethereum-based layer through mechanisms such as bridging ETH and native yield of ETH combustion. Layer 2 network removes value From the main net of Ethereum.

(Disclosure: Consensey is one of the 22 investors of the editor. Decryption. )

That said, it has not yet been confirmed that how many Ethereums will be bridged to Linea and what capacity it will be used has not yet been confirmed to produce yields.

“At this point, we're trying to get a better grasp of the best portfolio of native natives through custodians, beyond vanilla,” explained Charom. “We also have investors and nutritious liquidity providers. Liquid groupthis is a liquid staking token. There are ways to drive more delegations to the Linea network participants, even through native staking and liquid staking. ”

“It's early days. I'm not really comfortable sharing exactly what the plan is because we're trying to figure out the whole staking portfolio,” he added. “Remember: What the ETH Treasury should do is preserve that capital. The second is to value that capital.

At the time of writing, custodians have been ingrained in Sharplink's $3.6 billion worth of Ethereum (approximately 0.69% of total supply) worth of the entire Treasury Department. But the company is on a cliff that diversifies where and how it uses its Ethereum.

“We're in a pivotal moment in terms of betting opportunities, and we want to do it in a truly diverse way,” explained Charom. “So, I think what you're going to find is to walk before we run, but our goal is to promote the best yields for investors on a risk-adjusted basis.”