IBC Group is staking $10 million in ETH 2.0

A Dubai based ICO consulting agency invests $10,000,000 to support the launch of ETH 2.0

The company partnered with Canadian staking service CanETH for this effort.

The total funding consisting of 21,984 ETH will be sent in three tranches, securing the total of 687 validators.

The chairman of IBC Group Khurram Shroff said the company is “very excited” for launch of ETH2. “The ETH lockup shows our confidence in ETH2.0 and dedication to the beacon chain”, stated Shroff.

Ethereum is widely used for ICO projects and other businesses that represent the client base of IBC Group.

Raising the ETH stakes

Staking contract for ETH 2.0 have been published by ETH founder Vitalik Buterin on 4th of November.

The contract requires 32 ETH lock up to run a single ETH 2.0 Node, with the yielding estimation of up to 20%. The locked funds, however, will be locked until the official ETH 2.0 launch which is expected to launch on December 1, if the staking stage will be successful.

With nearly 20% of total amount raised in just 2 weeks, the ETH 2.0 launch is nearing the revolution of the efficiency and security in Ethereum network.