The blockchain financial services provider now offers an Ethereum 2.0 verification node hosting service that does not charge a commission or take a portion of the stake reward.

Abyss Finance is committed to providing a reward for transaction confirmation on the blockchain under development to prove ownership of Ethereum 2.0 cheaper and more secure.

To begin with, Abyss Finance goes beyond the usual ways that host nodes host money. Some gaming services require a 10% to 15% reduction in rewards received, while others require virtual hosting fees.

In exchange for maintaining the accommodation contract with a waiting period of 14, 28 or 90 days, Abyss Finance offers a completely free service and protects against loss of money by reducing penalties.

This is achieved by offering insurance against potential damages to a subset of clients, reducing fines that are assessed for various errors and misdemeanors in order to preserve the auditor’s integrity.

One of the reasons why Abyss Finance offers this insurance and maintains the highest benefits for Eth2 members is because they use Allnodes as their contract service. His research found that Allnodes could offer the best service, and is also “the hosting and storage platform that generates the highest gross revenue for an Eth2 validation contract,” according to independent research from ConsenSys Codefi.

In addition, Allnodes has a 99.90% service level agreement, making them one of the most reliable contract service providers.

Privacy means something
Abyss Finance states that users’ privacy is an important part of the offer. First, the platform offers anonymous registration through the user’s Ethereum wallet. Even an email address is not required.

Second, hosting does not store user keys – they are sent to Allnodes. Abyss Finance clients have access to the verification keys and can leave the service at any time.

More information from ABYSS FINANCE here

Allnodes in itself is a dishonest service, so games always remain in the user’s wallet.

The number of Abyss tokens to be received depends on the number of authentication nodes the user wishes to host and their selected binding period. From here, they can provide liquidity for the ABYSS / ETH pair and block the resulting LP tokens. The hosting service is free as long as the LP codes remain closed.

Liquidity is provided through the DeFi Uniswap exchange, and LP tokens are locked in the DeFi Abyss Lockup smart contract service.

What is insured
Abyss Finance insurance covers the direct costs of reducing fines – penalties deducted from the auditor’s share – when you pay in Abyss tokens. It comes with a minimum rate of $ 100 that covers the customer’s first host node with an optional 90-day commitment. Additional nodes start at $ 150, and there is no limit to the number of nodes that liquidity providers can host.

There are two types of insurance. The basic coverage policy covers direct losses related to a reduction in the proportion of customer fines, as well as any lost certificates that arise after the reduction has taken place. In this case, compensation is paid using the ABYSS Abyss Finance source code.

A full insurance provides compensation for potential loss of future bonuses due to a downgrade. This is normally up to step 1.5 in the Ethereum 2.0 development process. The entire policy increases the minimum block requirement five times to $ 500, and is only available to Abyss token holders. However, full insurance payments are over the air.

The decentralized financing service for holders of ERC-20 ABYSS tokens was launched from the very beginning. However, Abyss Finance expects to expand its offering over time to accept other tokens in line with Community votes.

Source: CoinTelegraph