The popular Bitcoin exchange Poloniex announced that it has become the first trading platform that now offers its users the possibility of staking Cosmos cryptocurrency (ATOM) with daily income payments.
Cosmos staking is live!
Simply deposit @ cosmos $ ATOM to Poloniex and begin earning daily staking rewards today! With no lock-up period, non-US customers only) https://t.co/eM1flOhdU8
– Poloniex Exchange (@Poloniex) June 28, 2019
“Just deposit at ATOM and start receiving daily staking rewards. There is no requirement for the timing of deposits, you can trade and withdraw funds at any time, “ – said in a statement Poloniex.
This option, however, is not available for users from the United States.
As a validator, Poloniex chose the provider of infrastructure blockchain solutions Infinity Stones.
The exchange notes that for the provision of this service charges 25% of the fees that go to cover the operating costs and risks associated with managing the services of stacking.
In the future, Poloniex plans to have its own validator in the Cosmos network, which will allow ATOM holders to earn on staking directly through the stock exchange.
“This is our first proposal in the field of proof-of-stake, which opens the way for other blockchains on this algorithm, ” added Poloniex representatives.
Plans to add the Cosmos staking option based in Boston, the stock exchange first reported in May. As stated then, Poloniex will also offer the owners of ATOM tokens the possibility of their redemption from ICO members, margin trading and lending. In the last message, these options are not mentioned.
The Cosmos project is developing a solution to ensure compatibility of various blockchains. The validators of the Cosmos own network receive additional tokens for ensuring the security of the blockchain by staking their tokens.
Recall that in late May, the Tendermint team, working on the Cosmos project, reported on the successful conduct of hard forks in the main network, designed to eliminate the detected critical vulnerability.
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