Clients Deposit Over 100K ETH on Kraken’s New Ethereum 2.0 Staking Service_THE:ETH

KrakenispleasedtoannounceitsnewEthereum2.0stakingservicehaspassedakeymilestone,withclientsdepositingover100,000ETH(worthmorethan$60million)injustfourdayssincelaunch.?

ThetotalamountstakedonKrakenhitthethresholdTuesday,meaningapproximately8%oftheETHcurrentlystakedforEthereum2.0isnowstakedonKraken.On-chainstakingallowsclientstohelpverifythenetworkinreturnforadditionaltokens,makingitaninnovativenewrevenuestreamforinvestorsandtraders.?

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Krakenisastaunchsupporterofinnovationinthecryptocurrencyspace.Justlastweek,Krakencommittedtomatchupto$150,000infundingforopen-sourceprojectsonEthereum.

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JeremyWelch,Kraken’sVPofProduct,commented:?

“KrakenhaslongbeenasupporterofEthereum.Infact,wewereoneofthefirstexchangestolistEtherinAugust2015.WehavewatchedasEthereumhascontinuedtogrowinsignificance.AsofDecember1,ETHtradingvolumestypicallymakeupbetween15-40%ofourBitcoindailyvolumes.”

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Tokenholdershavepreviouslyhadlittlechoiceotherthantostaketokensthemselves,somethingthatrequiresasignificanttechnicalunderstanding.

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OnKraken,however,clientscannowchoosetostakethroughourexchangeplatform.AsstakingviaKrakenpoolsclienttokenstogether,itimprovesthechancesthattheywillbeselectedtoverifytransactions,therebyincreasingpotentialpayouts.?

InadditiontoEthereumstaking,whichcameonlineonFriday,clientscanalsostaketokensonPolkadot,Tezos,KusamaandCosmos,withsupportforFlowcomingsoon.KrakenisalsouniqueinofferingclientstheopportunitytoearnregularrewardsondepositedUSDandEUR–muchlikeearninginterestfromasavingsaccount.?

Atthetimeofwriting,clientscouldexpecttoearnanywherebetween5%and17%onETHstakedonKraken.Withaseamlessinterfaceclientscan–atanytimeandwithanyamount–staketokensinjustthreeclicks,andun-stakeinstantaneously.?

“OursupportforstakingonEthereum2.0willenrichclientexperienceandreaffirmourcommitmenttosupportbleeding-edgeinnovation,”Welchadded.“AtKraken,wearethrilledtoplayourpartjustasEthereumpreparesforthisboldstepforward.”Formoreinformation,pleasevisittheKrakenstakingpage.

PhotobyNickChongonUnsplash

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