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Bison Trails and CoinList: supporting the growth of innovative networks


Bison Trails and CoinList have a strong collaboration to help advance the crypto ecosystem. Bison Trails powers secure staking infrastructure for CoinList, enabling users and token holders to participate in innovative new networks, contributing to their security and decentralization.

Bison Trails and CoinList: supporting the growth of innovative networks

By Bison Trails · Jul 22 2021

"At CoinList we believe that decentralization will transform society, much like the Internet did over the past few decades. CoinList’s mission is to support the most innovative crypto projects to launch their networks, empower early adopters to participate in these protocols, and to grow the blockchain ecosystem."

—Scott Keto, COO, CoinList

CoinList is a cryptocurrency exchange that provides a platform for digital asset companies to launch their tokens, and for early adopters to access new tokens before they list on other exchanges.

CoinList was founded in 2017 as a joint venture between AngelList and Protocol Labs (the group behind Filecoin) to create a secure, compliant platform for innovative new token projects to conduct their token sales. Filecoin was the first company to run their token sale through CoinList. Following Filecoin, CoinList supported many other innovative projects, including Flow, NEAR, Solana, Algorand, and Dfinity.

In early 2020, CoinList was looking for an infrastructure provider that would enable them to offer their community a secure, seamless staking experience through their platform. After a comprehensive review process, they decided that Bison Trails was the right provider because of its technical and protocol expertise.

"CoinList engages a large number of new protocols across the industry. Without a partner like Bison Trails, we would not be able to support nearly the same breadth of network participation for our customers. Their professionalism and dedication to supporting networks immediately at launch is unparalleled in the industry. They have emerged as an early leader among staking‐as‐a‐service providers.

Staking and network participation is critical to the successful growth of new blockchain networks. With the help of Bison Trails, CoinList provides seamless access for users to earn protocol rewards for their network participation and at the same time improve the network security for these novel blockchains."

—Scott Keto, COO, CoinList

With Bison Trails’ infrastructure and protocol expertise, CoinList can further empower their community to participate in innovative networks, helping increase decentralization, and supporting their growth and adoption beyond the initial launch.

The NuCypher WorkLock is a great example of how Bison Trails and CoinList collaborated to support a network through a critical growth cycle.

Helping networks grow and scale beyond the initial launch: the NuCypher WorkLock

Bison Trails and CoinList collaborated to offer the CoinList community an opportunity to participate in the NuCypher WorkLock, benefiting the community and the network.

NuCypher enables cryptographic infrastructure for privacy‐preserving applications and secure data storage. It was designed to help data owners to securely share their data with any number of users in a secure manner using a decentralized Key Management System (KMS).

The NuCypher WorkLock, which ran between September 2020 and April 2021, was an important step in the adoption and success of the NuCypher protocol. The WorkLock, a novel node distribution mechanism used to launch the NuCypher network, allowed participants to lock ETH to a smart contract, receive NU tokens, run NuCypher (Ursula) nodes, and receive fees and rewards. Participants could also get their ETH back after six months.

The WorkLock was designed to get tokens into the hands of participants who would contribute useful work to the network, increase the number of nodes on NuCypher, and generally contribute to its growth and decentralization. A total of 22.5% of the initial NU supply was distributed through the WorkLock.

CoinList saw strong demand from their community to participate in the WorkLock. Powered by Bison Trails’ secure, intuitive validator infrastructure, even non‐technical users were able to participate in the WorkLock via CoinList.

  • The NuCypher WorkLock on CoinList saw close to seven thousand registrants and close to three thousand unique participants.
  • CoinList users contributed 147K ETH (≈$54M) of the 354K total ETH (≈$124M) locked up across the network, representing over 40% of the total WorkLock amount.
  • The NuCypher WorkLock was one of the most successful CoinList events both in terms of the number of unique participants and the total ETH brought to the platform.


The CoinList platform continues to grow and see adoption.

  • The platform has over 3.5 million users, more than double compared to 2020.
  • The number of users who participate in staking has increased from around 400 in July 2020 to more than 22,000 in May 2021.


Read/write infrastructure to easily verify on‐chain transactions and the security of growing networks

Empowering a secure, seamless participation and staking experience is critical to advancing CoinList’s mission of supporting innovative networks. However, companies that offer blockchain products and services also require a different type of infrastructure—read/write nodes—to accurately track and record activity that takes place on a blockchain.

Read/write nodes are critical for CoinList, as the networks they support continue to grow and scale, and total value of assets on the platform increases. CoinList uses Bison Trails’ Query & Transact read/write infrastructure to help verify on‐chain transactions and information for the Flow and Oasis networks. With Query & Transact, CoinList can easily track and verify their user transactions and account balances, ensuring that transactions are processed and recorded accurately on the blockchains. Query & Transact also serves the data through an API, making it extremely easy for CoinList to query the information for reporting and analysis purposes.

The path forward

The crypto ecosystem is seeing rapid growth, with the number of new, innovative networks and participants growing every day. CoinList plays the important role of supporting both. It provides a platform to accelerate the adoption of these new networks, as well as a secure platform for crypto users and enthusiasts to discover and participate in these networks. It can only serve this important role with solid blockchain infrastructure.

Bison Trails is proud to support CoinList with secure, reliable infrastructure to help them realize their vision, and advance the crypto ecosystem.

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About Bison Trails


Pioneering Blockchain Infrastructure®

Bison Trails is a blockchain infrastructure platform-as-a-service (PaaS) company based in New York City. We built a platform for anyone who wants to participate in 21 new chains effortlessly.

We also make it easy for anyone building Web 3.0 applications to connect to blockchain data from 33 protocols with Query & Transact (QT). Our goal is for the entire blockchain ecosystem to flourish by providing robust infrastructure for the pioneers of tomorrow.

In January, 2021, we announced Bison Trails joined Coinbase to accelerate our mission to provide easy-to-use blockchain infrastructure, now as a standalone product line. The Bison Trails platform will continue to support our customers. With Coinbase’s backing, we will enhance our infrastructure platform and make it even easier to participate in decentralized networks and build applications that connect to blockchain data.


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THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY. PLEASE DO NOT CONSTRUE ANY SUCH INFORMATION OR OTHER MATERIAL CONTAINED IN THIS DOCUMENT AS LEGAL, TAX, INVESTMENT, FINANCIAL, OR OTHER ADVICE. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT A RECOMMENDATION OR ENDORSEMENT OF ANY DIGITAL ASSET, PROTOCOL, NETWORK OR PROJECT. HOWEVER, BISON TRAILS (INCLUDING ITS AFFILIATES AND/OR EMPLOYEES) MAY HAVE, OR MAY IN THE FUTURE HAVE, A SIGNIFICANT FINANCIAL INTEREST IN, AND MAY RECEIVE COMPENSATION FOR SERVICES RELATED TO, ONE OR MORE OF THE DIGITAL ASSETS, PROTOCOLS, NETWORKS, ENTITIES, PROJECTS AND/OR VENTURES DISCUSSED HEREIN.

THE RISK OF LOSS IN CRYPTOCURRENCY, INCLUDING STAKING, CAN BE SUBSTANTIAL AND NOTHING HEREIN IS INTENDED TO BE A GUARANTEE AGAINST THE POSSIBILITY OF LOSS. THIS DOCUMENT AND THE CONTENT CONTAINED HEREIN ARE BASED ON INFORMATION WHICH IS BELIEVED TO BE RELIABLE AND HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE BUT BISON TRAILS MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE FAIRNESS, ACCURACY, ADEQUACY, REASONABLENESS OR COMPLETENESS OF SUCH INFORMATION.

ANY USE OF BISON TRAILS’ SERVICES MAY BE CONTINGENT ON COMPLETION OF BISON TRAILS’ ONBOARDING PROCESS, INCLUDING ENTRANCE INTO APPLICABLE LEGAL DOCUMENTATION AND WILL BE, AT ALL TIMES, SUBJECT TO AND GOVERNED BY BISON TRAILS’ POLICIES, INCLUDING WITHOUT LIMITATION, ITS TERMS OF SERVICE AND PRIVACY POLICY, AS MAY BE AMENDED FROM TIME TO TIME.


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