Gemini has announced support for staking, allowing users of its exchange to earn rewards on eligible crypto assets.
Gemini to Offer Staking
Gemini will support staking beginning today, August 18.
In an announcement, Gemini said that users will initially be able to stake and earn rewards on Polygon’s MATIC token. It also said that Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Audius (AUDIO) staking will be available in the near future.
With the exception of Audius, all of those tokens are among the 15 largest cryptocurrencies by market capitalization.
The company contrasted staking with Gemini Earn, another service that generates yields on deposited crypto. Whereas Gemini partners with third-party borrowers for its Earn service, its staking service will derive rewards from blockchain validation.
It is not clear whether Gemini plans to run its own validator nodes or whether it will work with external validators.
Gemini notes that users who stake with its service will benefit from...
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