Poloniex Plans to Add Staking for Cosmos (ATOM) This Summer
Circle’s cryptocurrency exchange subsidiary, Poloniex, announced on Wednesday that it is planning to support staking for Cosmos (ATOM). Cosmos leverages a delegated proof of stake (DPoS) consensus system, which currently yields around 13% annually for stakers.
— Poloniex Exchange (@Poloniex) May 8, 2019
According to the announcement, starting this summer, eligible users who hold ATOM on Poloniex will automatically earn staking rewards while maintaining the ability to trade.
“Staking for Cosmos atoms follows a series of innovative opportunities we’ve offered to atom holders, including redemption for ICO participants, margin trading and lending,” states the Poloniex team.
Poloniex is the first exchange to announce planned support for Cosmos staking.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.