Bitfinex Announces Staking Feature for Polkadot
Shutterstock
Main page News, Exchange, Crypto Market, Cryptocurrency Exchanges, Cryptocurrency
Hot topic
22 October
81 81

Bitfinex has officially revealed staking support for the polkadot (DOT) token.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

According to an official announcement, staking will offer rewards as high as 14% per year for depositing and holding DOT tokens. However, Bitfinex notes this is the estimated annual staking reward for staked tokens. Actual annualized staking rewards may differ.

Bitfinex claims all the assets purposed for staking will be stored in its cold wallets:

"When Bitfinex stakes a digital token, it is delegated by the exchange, but it remains in the platform's wallets in the same manner as other digital tokens."

Previously in September, Bitfinex launched a new instrument, focused on investing in equity derivatives settled in the tether (USDT) stablecoin.

The launch of these USDT-settled equity index derivatives allows the exchange to take a step beyond digital assets.

Is Polkadot a Real Threat to Ethereum?

The derivatives in question are Europe 50 and Germany 30 perpetual swaps. The former represents the STOXX Europe 50 index and covers 50 stocks from 18 European countries, while Germany 30 represents the Deutscher Aktien Index (DAX) of the 30 largest German stocks listed on the Frankfurt Stock Exchange.

If you are looking for a crypto trading platform to trade your assets, visit Gozo.pro, a safe and reliable exchange.

Read also:
Please describe the error
Close