Bitvavo now allows you to stake for three new tokens: SOL, ATOM, and LUNA2.
Dutch crypto platform Bitvavo It has added three new cryptos to its staking reward service.
Customers can now leverage their holdings with Solana (SOL), Luna(LUNA2) or Comos (ATOM), and enjoy staking reward of up to 10% APY
Stake SOL (LUNA), ATOM
Staking is one of the ways cryptocurrency holders take part in network transactions and ensure security on a blockchain network. Incentivisation involves the holders locking their assets up for a specified period. They also get a reward.
Bitvavo now supports these coins and offers a flexible staking feature, allowing users to stake or untake their crypto assets as they wish.
The Dutch-based platform has updated their website with the following information: This is the new annual yield (or annual percentage yield or APY) of the three proof-of–stake digital assets.
Here’s what you can earn from Bitvavo when you stake:
- Solana (SOL: Earn up to 5% Reward
- Luna (LUNA2): Earn up to 6 % reward
- Cosmos (ATOM: Earn up to 10% Reward
The maximum annual reward for staked asset on the De Nederlandsche Bank regulated platform (DNB), is now higher than the 7.5% initially offered by Icon.
Bitvavo allows users to view and keep track of their staked assets via the Bitvavo app.
Cardano (ADA) staking reward update
Bitvavo updated the staking reward Cardano (ADA) in addition to adding Solana Cosmos and Luna. This has been revised from 5% up to 4.25%.
The factors that determine the yield rate are the average pool rate (blocks per Epoch), amount of ADA pledged and staking cost relating the percentage of reward pool operators.
Bitvavo boasts over 1,000,000 users and offers 180 digital assets including Bitcoin and Ethereum.