Coinbase Cloud and Figment are supporting an experienced founding team to prepare for the launch of a new protocol for institutional liquid staking.

We're excited to announce that in conjunction with Coinbase Cloud, we are supporting a group of experienced founders and operators in forming Alluvial, a new enterprise-grade liquid staking protocol that is intended to be governed by a DAO with broad industry participation.

The development of this new protocol is a true crypto-native initiative, Alluvial’s mission is to expand the Web3 economy by supporting and securing Proof of Stake protocols.The initial deployment of institutional liquid staking will run on Ethereum. Coinbase Cloud and Figment will be part of the initial validator set, staking the tokens of whitelisted participants, with other industry-leading operators joining soon. 

Stake with Confidence

Contact us to learn more about enterprise-grade liquid staking

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FAQ

Aren’t you bringing a lot of hedge funds/institutions into the web3 ecosystem, which will result in more centralization?

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  • Empowering more token holders to participate in liquid staking will help unlock liquidity for more participants in a safe and compliant manner. 
  • This liquidity will ultimately result in a more vibrant web3 economy, pave the way for new use cases, and encourage more token holders to participate.
  • We are bringing institutions into web3 in a web3-native way that encourages transparency, decentralization and collaboration. Our goal is to increase the overall health and adoption of proof of stake.

This protocol is supported by some of the most centralized organizations on the web3 ecosystem. Don’t you consider this risky/against the web3 ethos? (Or alternatively phrased: aren’t you letting VCs control the network?)

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  • This new liquid staking protocol is a web3-native initiative and a new benchmark for the industry. Everything serves the goal of bringing more transparency and decentralization to the broader ecosystem. 
  • The protocol aims to bring in more participants to web3 as we scale to one billion users. We want to empower more token holders to participate securely in this new technology, create liquidity at scale and unlock new web3-native use cases, and ultimately help improve decentralization.
  • We are also committed to decentralization in our technology stack, in that it is not built on a single region or cloud provider. Our infrastructure is multi-cloud and multi-region, with client diversity to help the network scale securely.

What is the call to action for potential participants and builders? 

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  • Over time, we expect the protocol will evolve to encourage collaboration by more builders and participants across the ecosystem. 
  • If you are an enterprise or institution looking to explore the world of liquid staking, or an ecosystem system partner looking to build on the protocol, get in touch with the [Coinbase Cloud/Figment] team. 

What is the call to action for enterprises? 

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  • We encourage enterprises and institutions to stay in touch with us and follow news related to the launch of the new protocol. 
  • We will continue to keep the community informed about what is coming up next as we get closer to launch in 2022.

Was any other organization support the protocol? 

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  • The protocol is formed by builders with deep expertise in web3 infrastructure, proof of stake protocols, liquid staking, and crypto financial products.
  • Over time, we expect  the protocol will evolve to encourage collaboration by more builders and participants across the ecosystem.

When will enterprises be able to participate? 

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  • Over time, we expect  the protocol will evolve to encourage collaboration by more builders and participants across the ecosystem. If you’d like to get involved, we would love to hear from you.

Is this a first of any kind? 

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  • This new liquid staking protocol is the first-ever enterprise web3-services protocol. Our vision is to create a new liquid staking standard for institutions and enterprises.

What is the founding team hoping to achieve by forming this new liquid staking protocol? (Or can be phrased as: How did the idea to start the protocol begin?)

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  • As industry leaders, Alluvial’s founders, Coinbase Cloud, Figment, and other early supporters of the protocol observed the same need. There is a gap for an enterprise/institutional grade liquid staking solution that would bring in more participants to the web3 economy, and create liquidity at scale that could help unlock more use cases.
  • Our vision is to support the founding team as they grow the protocol in a web3-native way with standards that are open, transparent, and incentive-aligned. Over time, we expect the protocol will evolve to encourage collaboration by more builders and participants across the ecosystem.

What is the relationship between Coinbase and Figment? 

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  • Coinbase Cloud and Figment are both web3 infrastructure providers that are experienced in working with enterprises and highly-regulated institutions, and have deep knowledge of proof of stake protocols.
  • Coinbase Cloud and Figment have both observed the same need. There is a gap for an enterprise/institutional grade liquid staking solution that would bring in more participants to the web3 economy, and create liquidity at scale that could help unlock more use cases.
  • Coinbase Cloud and Figment are collaborating to support the founding team launch and grow the protocol a web3-native way. Our goal is to empower more enterprises, institutions, and token holders to participate in this new technology with confidence, enable more token holders to experience the benefits of web3, and help grow the web3 economy as a whole.

What is Figment’s involvement in the new protocol? 

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  • Figment will work with Coinbase Cloud to support the founding team in launching and growing the new protocol, and act as a validator operator to perform staking services.

What is Coinbase’s involvement in the new protocol?

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  • Coinbase Cloud intends to act as a validator operator, providing the secure, non-custodial infrastructure to perform staking services on the protocol.

How will the protocol be governed?

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  • The protocol will be developed by an experienced founding team. Alluvial’s vision is to grow the protocol – and the ecosystem at large – by building standards that are open, transparent, and incentive aligned, and move towards a community-governed future. Alluvial intends for the protocol to ultimately be governed in a decentralized DAO with broad industry participation. 
  • Coinbase Cloud and Figment intend to perform staking services for the protocol.
  • The collective vision is to support the founding team as they grow the protocol in a web3-native way with standards that are open, transparent, and incentive-aligned. Over time, we expect the protocol will evolve to encourage collaboration by more builders and participants across the ecosystem.

Who are the founders and contributors of the new protocol?

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  • The new liquid staking protocol is formed by a highly experienced team with deep expertise in web3 infrastructure, proof of stake protocols, liquid staking, and crypto financial products.
  • Founders include Matt Leisinger, former head of liquid staking products at Figment; Nicolas Maurice, former CTO of Kiln Staking-as-a-Service platform, and Mike Taormina, former head of institutional business at the Index Cooperative, a decentralized community powering on-chain crypto structured products.
  • Coinbase Cloud and Figment are supporting the founding team to build and grow the new protocol, and plan to act as validator operators to perform staking services.