The University of Wyoming is allocating $4 million to running nodes and staking at least three cryptocurrencies.
The news was shared to Twitter on April 28 by Caitlin Long, a Wyoming Blockchain and Fintech Select Committee appointee and founder of Avanti Bank & Trust — a local bank servicing the digital asset sector.
NEWS NOT REPORTED YET: State of #Wyoming appropriated $4m for nodes/staking in at least 3 cryptocurrencies, run by Univ of Wyoming. This kickstarts program where gains from this pool, if matched by private donations, go to fund UWyo! @rothfuss https://t.co/LDul3iGtS4 pic.twitter.com/KxFVm5YhLp
— Caitlin Long (@CaitlinLong_) April 28, 2021
The documentation posted by Long notes the University appropriated $4 million from the state’s strategic investments and projects fund to establish, operate, and maintain “nodes and staking pools for no less than three publicly tradable cryptocurrencies.”
The revenues generated by the University’s staking pools will first be mobilized to cover operational costs, and then to repay the $4 million to the state’s investment