The cryptocurrency exchange CEX.IO has become a partner of the Zilliqa blockchain project in launching non-custodial staking. Representatives of the exchange told ForkLog.
From September 28, CEX.IO users will be able to earn from staking Zilliqa tokens (ZIL). The minimum deposit on CEX.IO is 1 ZIL. The expected staking yield is 17–19% per year.
“For CEX.IO traders, the staking process seems to be as simple as possible: they keep tokens on their account, and the exchange handles all the technical issues,” says Sergey Smalko, Product Manager of CEX.IO Staking.
CEX.IO pays staking rewards monthly. The amount depends on the cryptocurrency price and the deposit size. A feature of staking on CEX.IO is that the exchange does not lock up the coins: users can trade tokens and withdraw funds.
Zilliqa is a blockchain platform for building decentralized applications with support for sharding. The mainnet started in early 2019.
“ZIL is a fairly popular coin created by a team of professionals. We were pleased to accept Zilliqa’s proposal to partner in launching non-custodial staking. In addition, CEX.IO has become a trusted node operator,” says Sergey Smalko.
Alongside ZIL, staking on CEX.IO is available for ADA, MATIC, ATOM, XTZ, GAS, ONG, TRX, MHC and DOT. The exchange plans to broaden this list in the future.
“Many exchanges are implementing KYC/AML procedures amid tightening crypto regulation. At CEX.IO these procedures have been in place since the exchange’s launch. We are bringing to the market a qualitatively different audience, which adds value to any blockchain project,” comments Sergey Smalko.
CEX.IO is a cryptocurrency exchange with headquarters in the United Kingdom and the United States, as well as offices in Ukraine, Gibraltar and Cyprus. The trading platform supports four fiat currencies: the US dollar, euro, pound sterling and the Russian ruble. Deposits on CEX.IO can be funded via bank transfers and payment systems.
Earlier, CEX.IO said that the volume of Russian deposits on the exchange grew fivefold from January to June 2020.
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