In brief
Coinbase is now offering staking rewards for users who hold and stake Solana.
The feature will roll out gradually to all Coinbase users.
Cryptocurrency exchange Coinbase has enabled staking benefits for Solana (SOL), enabling holders on the platform to earn SOL rewards just for holding the coin and keeping it staked within the network.
Coinbase announced the move today, noting that it will gradually roll the feature out across its entire user base. The firm will provide an estimated 3.85% annual percentage yield (APY) on SOL that is staked in the Solana network, with rewards distributed every three to four days. By comparison, Coinbase currently offers its users 3.675% APY on Ethereum staking. Yield rates, however, are subject to change and are largely dependent on fluctuations in the total amount of tokens locked up through staking on each given network.
Solana staking has long been available through other means, such as rival exchanges like Binance and FTX, as well as...
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