Ethereum's $3.6 billion treasury to be tapped for staking through Linea, according to SharpLink CEO's statement.
SharpLink Gaming, a leading player in the gaming industry, has announced plans to diversify its Ethereum staking methods, with a focus on the upcoming Ethereum layer-2 network, Linea. Currently, the company stakes nearly all its Ethereum holdings through custodians Anchorage and Coinbase for security and institutional-grade management.
The decision to diversify comes as SharpLink aims to seek higher-yield and risk-adjusted returns. The Linea network, set to become the most significant token to enter the Ethereum ecosystem since Ethereum itself, is expected to launch on September 10.
Linea's creator, Consensys, led by CEO Joe Lubin, who is also a co-founder of Ethereum and the chairman of SharpLink's board of directors, has highlighted that the network launch will "bootstrap" the network with more than 80% of the supply being used to support on-chain projects.
SharpLink has joined the Linea Consortium, a group of companies that will steward 75% of the LINEA token distribution. The consortium is "mission-aligned" to make Linea a "highly successful" layer-2 network.
SharpLink's co-CEO, Joseph Chalom, emphasized the importance of driving real-world activity to "Ethereum-aligned" projects like Linea. As SharpLink matures, it will look to diversify the staking vehicles it utilizes, with an emphasis on prudence and strategy.
In addition to custodians like Anchorage and Coinbase, SharpLink is exploring staking liquidity providers like Liquid Collective. The company plans to stake an undisclosed portion of its $3.6 billion Ethereum holdings on the Ethereum layer-2 network, Linea, once it hits mainnet on September 10.
The Linea TGE (Token Generation Event) is scheduled for the same date, and the eligibility checker for the event is now live. The entire treasury of SharpLink's Ethereum holdings is currently being staked with custodians, but diversification is imminent.
With its focus on Ethereum-aligned projects and a commitment to driving the highest yields on a risk-adjusted basis for its investors, SharpLink Gaming is poised to make a significant impact on the Ethereum ecosystem with its strategic move into the layer-2 network, Linea.
