Values

It's worth noting that over 50% of Ethereum staking in the market is currently concentrated on a single protocol or platform, which significantly increases the security of the market.

When we think about monopolized markets, commodities, or services in the world, Google is an obvious example as it controls over 90% of the global search engine market. This means that Google has a significant influence over the flow of information for nearly all internet users worldwide. As a result, it's difficult to know if something is being manipulated or misconstrued to serve a specific agenda. Similarly, when a single entity holds or uses the majority of a symbolic supply, it presents a security issue.

For staking, there is usually a single protocol or platform that holds most of the risks for ETH, particularly after the Shanghai upgrade. As is known by all, this upgrade has significantly raised the proportion of circulating ETH supply, making it more comparable to top competitors like BNB. With this trend and rapid development, the EtherKEY protocol will become the preferred choice for new users. Why? Because there are no financial or lock-up requirements and you can maintain liquidity. For many people, liquidity is scarce and they lack the ability to take risks across multiple DeFi opportunities. Thus, your involvement will decline if your liquidity is locked up in staking and the entire network will suffer from reduced quantity and innovation.

While we certainly want to see an influx of users into decentralized finance, it's important to acknowledge the potential security and centralization risks associated with a market that's dominated by a single protocol. The $EKEY initiative focuses on promoting innovation, enhancing user education, and creating a more accessible and inclusive liquid gambling landscape for newcomers. We recognize the opportunities that exist within the market and believe that healthy competition can bring positive benefits to all players involved.

Currently, three protocols account for 86% of the total value locked (TVL): LIDO has a dominant market share of 64%, while Coinbase and RPL also offer high-quality services, promote technology excellently, and fulfill their commitments to users.

However, having a monopoly over the circulating supply of ETH poses significant risks. Therefore, our goal is to further diversify and dilute the circulating supply risk of ETH, keeping it away from the risk of being overly centralized, and expanding it throughout the blockchain. This not only enhances the security and efficiency of the network but also promotes innovation and new collaborations between different communities.