- Gemini Staking is an addition to Gemini Earn, a yield-generating product launched in February 2021.
- Staking is available for US customers (excluding New York), Singapore and Hong Kong.
- The product will support MATIC before adding ETH, SOL, DOT and AUDIO.
Gemini crypto exchange launches staking functionality and supports multiple cryptocurrencies for customers in the US (excluding New York), Hong Kong and Singapore.
One of the earliest companies in the industry and regulated in the US and other jurisdictions, the company gemini staking Product on August 18, 2022.
Customers can now stake their tokens and receive staking rewards in their exchange accounts. blog announcement.
Staking MATIC on Polygon
Staking is one of the ways crypto holders earn rewards with their tokens. This is possible via the Proof of Stake (PoS) consensus mechanism platform.
In contrast to mining in Proof of Work (PoW) networks like Bitcoin, in PoS networks token holders either pledge their tokens to validators or run their own nodes to process transactions. and network security.
Gemini will initially support staking MATIC, the native token of the Polygon network. After that, the platform plans to add support for the leading smart contract blockchain Ethereum (ETH). This will be moved to PoS via a “merge”.
Other network tokens Gemini is considering supporting are Polkadot (DOT), Solana (SOL), and Audius (AUDIO).
Staking Starts Added to Gemini’s Yield Generating Service gemini acquisition, launched in February 2021. Earn allows customers to generate cryptocurrency yields through interest paid on loaned assets.