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Cardano Staking Goes Live on Kraken Exchange
ADA staking was launched on Tuesday, the exchange said.
Staking for Cardano's ADA cryptocurrency is now supported on U.S.-based cryptocurrency exchange Kraken, according to a blog post.
STORY CONTINUES BELOW
- Users are able to access the staking option inside their Kraken Staking Wallet after the option went live at 21:00 UTC on Tuesday.
- Rewards of 4% to 6% are being offered to those staking ADA, Kraken said.
- Payouts are to be delivered on a regular weekly basis and are currently available for Starter, Intermediate and Pro account tiers.
- Cardano is built with a proof-of-stake mechanism providing developers with the ability to operate smart contracts and run decentralized applications.
- Staking in ADA helps power the network by allowing users to vote on changes to how the network is managed and executed.
- ADA's addition brings the exchange's staking offerings to seven, including Ethereum 2, Polkadot and Flow, among others.
See also: Kraken Considering a Stock Market Debut Next Year: Report
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
