Now, holding cryptocurrency is itself going to be rewarding, says, Coinbase. Starting with its Tezos (XTZ) token, Coinbase is giving the proof-of-stake advantage.
Tezos uses an alternative mechanism that rewards network users for holding onto its coins and thereby helping protect the network. Coinbase has announced that with the use of the Tezos, US customers (barring residents of Hawaii and New York) can now stake the smart-contract platform’s crypto with an estimated 5 percent annual return.
The 5 percent estimate given by Coinbase has solely been derived off Tezos’ last 90 days performance of staking returns. The firm also notes that there’s an initial holding period of 35–40 days, after which stakers will start to see rewards appear in their accounts every three days.
To add to this good news is another one. The exchange has also added Tezos to Coinbase Earn. This is a program aimed at educating the public about crypto and will give out XTZ to participants completing educational videos.
Coinbase soft-launched staking for both Tezos and decentralized finance token Maker (MKR) this March on Coinbase Custody.
Coinbase Custody is a standalone, independently-capitalized business to Coinbase, Inc.
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