Staking for Cardano’s ADA cryptocurrency is now supported on U.S.-based cryptocurrency exchange Kraken, according to a blog post.
- Users are able to access the staking option inside their Kraken Staking Wallet after it went live at 21:00 UTC on Tuesday.
- Rewards of 4–6% are being offered to those staking ADA, Kraken said.
- Payouts are to be delivered on a regular weekly basis and are currently available for Starter, Intermediate and Pro account tiers.
- Cardano is built with a proof-of-stake mechanism providing developers with the ability to operate smart contracts and run decentralized applications.
- Staking in ADA helps power the network by allowing users to vote on changes to how the network is managed and executed.
- ADA’s addition brings the exchange’s staking offerings to seven, including Ethereum 2, Polkadot and Flow, among others.
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