Luganodes and Bitfinex: A Year of Staking Success and Innovation

Luganodes proudly bears a shining feather in its cap, the result of a collaboration with one of the cryptocurrency industry's oldest and largest exchanges - Bitfinex. Over a year ago, we joined Bitfinex's select group of staking providers, allowing their customers to access our institutional-grade staking services and enjoy the associated rewards. Since then, Luganodes has continued to grow and diversify its services, now supporting operations on seven distinct blockchain networks for Bitfinex.

Join us as we reflect on this journey, marked by our commitment to delivering exceptional value to our institutional clientele.

"Collaborating with Luganodes has significantly elevated our staking services, seamlessly blending their technical prowess with our commitment to security and user satisfaction. Their ability to consistently deliver and innovate in the competitive world of cryptocurrency has made them an invaluable asset to Bitfinex and our customers."

Paolo Ardoino

CTO, Bitfinex

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world.

Bitfinex, renowned as one of the world's most liquid cryptocurrency exchanges, offers traders a seamless experience with easily accessible and competitively priced transactions. Bitfinex is dedicated to meeting the varied requirements of its customers and places a strong emphasis on security. The platform has earned a SOC 2 Type 1 Certification, which is founded on stringent standards of security, availability, and confidentiality. This certification underscores Bitfinex's commitment to maintaining rigorous policies and procedures in alignment with the AICPA Trust Services Criteria. Notably, Bitfinex appeals to both seasoned traders and institutional investors, providing an array of advanced trading tools and competitive fees. As a beacon of innovation, Bitfinex continuously evolves its platform, introducing new features and products to meet the ever-changing demands of its global customer base.

Staking Service

Within the digital currency ecosystem, staking has become a key incentive mechanism with major implications for investors. It offers a special chance to get passive revenue by actively participating in network validation and governance procedures. Investors actively support the security and democratisation of blockchain networks by putting up tokens as collateral in exchange for staking rewards based on the Annual Percentage Rate (APR) provided by the validator. This makes it easier for institutional and individual investors to build their cryptocurrency portfolios and acts as a safety net against price volatility and the inflationary elements of blockchain protocols. Platforms like Bitfinex have effortlessly adapted to this changing environment with the rise in popularity of Proof of Stake (PoS) blockchains, providing sophisticated staking capabilities to empower their customers.

The Bitfinex staking services, powered by Luganodes, present a user-friendly and potentially rewarding opportunity for cryptocurrency investors. To get started, customers simply select a supported token and deposit it into their Bitfinex account, with the exception of ETH tokens, which require an opt-in. Staking rewards are distributed on a weekly basis, calculated based on the number of tokens held during a mid-week balance snapshot, providing customers with a transparent and accessible way to track their earnings. There's no minimum token requirement, making this staking option inclusive for all levels of investors.

Bitfinex places a paramount focus on security, ensuring that staked tokens never leave their cold wallets, and only a portion is staked to minimise risks. This approach grants customers the freedom to trade and withdraw most staked tokens at their convenience, adding a layer of flexibility to the process. While governance decisions typically rest with trusted node providers like Luganodes, customers can actively contribute to network security while enjoying passive income. Bitfinex's unwavering commitment to user-centric services and robust security protocols solidifies its staking platform as a valuable asset in the ever-evolving cryptocurrency landscape.

Luganodes Staking Integration

Today, seven out of ten staking-supported tokens on Bitfinex are run by Luganodes, a testament to the trust and efficiency of this collaboration. Bitfinex benefits from Luganodes' robust engineering capabilities and extensive experience in establishing and maintaining validator nodes. This collaboration not only saves Bitfinex countless hours of labour and complex infrastructure development but also ensures that their staking service remains in capable hands, enabling them to prioritize client satisfaction and deliver an enhanced customer experience.

Luganodes takes pride in its continued collaboration with Bitfinex, a significant player in the cryptocurrency industry. Luganodes' journey in managing staking services has experienced rapid growth in recent years, solidifying its position as a top-tier AAA-rated staking infrastructure provider. With an unwavering commitment to maintaining an exceptional uptime rate of 99.9% and benefiting from round-the-clock node monitoring by SRE experts, Luganodes continually expands its support for 30+ PoS networks. In terms of security and compliance, Luganodes stands as the first staking provider to adhere to SOC 2 Type II compliance, GDPR, and ISO 27001 certification. With over $1+ billion in staked assets, Luganodes proudly maintains its status as the fastest-growing staking infrastructure provider in the industry.

Premium Customer Experience

Bitfinex’s expansion into the staking sector was a major milestone, and they needed a partner who could provide staking services at par with the level of quality and trust that they have maintained as a seasoned cryptocurrency provider. They needed a staking partner who shared their unwavering dedication to responsiveness and reliability.

Our team of seasoned solutions architects, account managers, and committed support agents has diligently worked with Bitfinex, answering questions, resolving problems, and managing unforeseen challenges that surfaced throughout the journey, from the initial planning phase to the successful production launch.

As an esteemed enterprise client of Luganodes, Bitfinex assumes a pivotal role in shaping our product offerings. They have the unique opportunity to actively influence our roadmap, test innovative features, and contribute to the growth of our services. As we mark the completion of one year in this thriving collaboration, we eagerly anticipate the continued expansion and success of this collaboration.

Work with Luganodes

Just like Bitfinex, your organisation can also take advantage of our top-tier Web3 infrastructure. As a rapidly expanding company, we are enthusiastic about forming new collaborations and cultivating enduring relationships. If our offerings resonate with your needs, please feel free to reach out to us at [email protected].