Poloniex Exchange offered the option of staking the Cosmos cryptocurrency ATOM

by in Blockchain News

Poloniex Exchangeoffered staking of ATOM

The popular Bitcoin exchange Poloniex announced that it had become the first trading platform that now offers its users the possibility of staking the Cosmos cryptocurrency (ATOM) with daily income payments.

This option, however, is not available for users from the United States.

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As a validator, Poloniex chose the provider of infrastructure blockchain solutions Infinity Stones.

The exchange notes that for the provision of this service charges 25% of the fees that go to cover the operating costs and risks associated with managing the services of stacking.

In the future, Poloniex plans to have its own validator in the Cosmos network, which will allow ATOM holders to earn on staking directly through the stock exchange.

Plans to add the Cosmos staking option the company first reported in May. As stated then, Poloniex will also offer the owners of ATOM tokens the possibility of their redemption from ICO members, margin trading and lending. In the last message, these options are not mentioned.

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The Cosmos project is developing a solution that ensures the compatibility of various blockchains. The validators of the own Cosmos network receive additional tokens for ensuring the security of the blockchain by staking their tokens.

Recall, that in late May, the Tendermint team, working on the Cosmos project, reported on the successful conduct of hard forks in the main network, designed to eliminate the detected critical vulnerability.