Dmitri Tsumak is the founder of StakeWise, a platform that offers Ethereum staking solutions focused on helping users stake Ether and compound their rewards over time. ^{[1] [12]}

Career

Tsumak entered crypto six years ago while pursuing a master’s in cryptography and security. He first became interested in Bitcoin, then Ethereum, and began experimenting with decentralized applications, including crypto mining and smart contract-based lotteries. Around three years ago, the launch of Ethereum 2.0 caught his attention and motivated him to become a validator. At the time, the high 32 ETH requirement posed a barrier, which led to the idea of pooled staking and eventually the creation of StakeWise in March 2022. He became active in Ethereum 2.0 discussions and contributed to development efforts while building the protocol. ^{[2] [4]}

StakeWise

On the Wholesome Crypto Podcast, Tsumak and Kirill Kutakov discussed their journey into cryptocurrency, which began during their university years when they developed an interest in cryptography and blockchain technology. Tsumak’s initial experience with banking issues prompted him to explore alternatives, leading him to become increasingly involved in crypto. The two friends reconnected through mutual acquaintances and shared aspirations to create a business in the field. Their collaboration ultimately led to the development of StakeWise, which initially focused on solving the challenges of staking and later shifted towards liquid staking as they recognized its potential within the decentralized finance (DeFi) landscape. Throughout the podcast, they addressed trust issues in crypto, emphasizing the importance of transparency, community involvement, collaborative approaches to improving security, and the significance of ethical conduct in enhancing industry credibility. ^[14]

Interviews

About StakeWise

On the D-Core Podcast, Tsumak discussed his journey into the cryptocurrency space and the creation of StakeWise, an Ethereum 2.0 liquid staking platform. Initially drawn to Bitcoin during his master's program in cryptography, Tsumak became intrigued by Ethereum's potential for decentralized applications. With the launch of Ethereum 2.0, which required significant amounts of ETH to become a validator, he identified a need for a pooling solution. StakeWise allows users to stake Ethereum and receive tokens they can utilize in decentralized finance (DeFi), enabling benefits such as compounding rewards, which he noted was a unique feature. Tsumak also reflected on the growing interest in staking as Ethereum's advantages gained broader acceptance, while addressing common misconceptions about Ethereum 2.0's scalability and environmental impacts compared to proof-of-work systems. He emphasized the platform’s ability to democratize staking and improve accessibility, arguing that, contrary to some critiques, proof-of-stake models do not inherently favor the wealthy. ^[2]

Panel

StakeWise Expansion

During an online discussion panel with Wormhole, Tsumak discussed StakeWise, a permissionless liquid staking protocol, which had been operational on Ethereum and Gnosis for four years. He expressed his commitment to expanding to other networks and was motivated to increase token utility and volume through participation in high-adoption L2s. Key considerations in StakeWise’s expansion included selecting a token framework that allowed for governance by the DAO and the ability to adapt to various bridging protocols. The integration with NTT was noted to be straightforward, involving minimal design changes and a focus on features like rate limiting. Tsumak shared recent developments, including a successful launch on Arbitrum and partnerships with platforms like MetaMask. Looking ahead, he planned to introduce multi-chain staking and enhance governance mechanisms to improve decision-making across different chains. Overall, the dialogue highlighted the ongoing evolution of Stakewise's services and future projects to enhance user experience and engagement in the liquid staking space. ^[13]