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Bitvavo adds staking support for SOL, LUNA2, ATOM

Bitvavo now supports staking for three new tokens- SOL, ATOM and LUNA2.

Dutch crypto platform Bitvavo has added three new cryptocurrencies to its staking rewards service.

Now with Solana (SOL), Luna (LUNA2) and Comos (ATOM), customers can leverage their holdings to enjoy staking rewards of up to 10% APY.

Stake SOL, LUNA and ATOM

Staking is one way cryptocurrency holders participate in the network transactions and security of a blockchain network. By locking up their assets for a given period, holders help facilitate the said activities, with a reward earned as part of the incentivisation process.

Bitvavo now supports the above coins, offering a flexible staking feature that allows users to stake or unstake their crypto assets at will.

In their latest update the Dutch-based platform noted the following as the new yearly yield (annual percentage yield, or APY) for the three proof-of-stake digital assets.

Here is what you earn when you stake with Bitvavo:

  • Solana (SOL): earn up to 5% reward
  • Luna (LUNA2): earn up to 6% reward
  • Cosmos (ATOM): earn up to 10% reward

The update means the maximum yearly reward for staked assets on the De Nederlandsche Bank (DNB) regulated platform is higher than the 7.5% initially offered on Icon (ICX).

Users can access and keep tabs on their staked assets in the Bitvavo app.

Cardano (ADA) staking reward update

Apart from adding Solana, Cosmos, and Luna, Bitvavo has updated the staking reward for Cardano (ADA). This has been reevaluated from 5% to 4.25%.

Factors that help determine the yield rate include the average pool rate, blocks per Epochs, amount of ADA pledged and staking costs relating to the percentage of the reward pool operators take.

Bitvavo has over 1 million users and offers up to 180 digital assets, including Bitcoin and Ethereum.

The post Bitvavo adds staking support for SOL, LUNA2, ATOM appeared first on CoinJournal.

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Crypto custody and services firm Fireblocks adds support for Solana

The venture-backed crypto custody and services firm Fireblocks has added support for Solana. Fireblocks users will now be able to directly interact with Solana applications on Fireblocks’ platform

The integration allows users to connect and interact directly with decentralized applications (dApps) built on the Solana ecosystem. Developers on the Solana ecosystem will also be able to utilize a wide variety of tools.

Fireblocks CEO Michael Shaulov said:

“Fireblocks’ Web3 Engine offers Solana builders the highest level of security when it comes to accessing the blockchain and its ecosystem of applications for their customers.”

According to DeFiLlama, the total locked value on Solana was approximately $1.4 billion making it the sixth largest blockchain in terms of this metric. In addition, Solana’s non-fungible (NFT) community is the second-most active across all blockchains.

Solana price after the integration

After the news of the integration, the price of SOL, Solana’s native token, surged to a daily high of $33.07. The token had however dropped to $31.12 at press time, registering a drop of 2.62% in the past 24 hours.

Today’s drop has made SOL lose half of the gains it had made yesterday and it has aroused fears of resuming the previous bearish trend that had seen it drop to a low of $30.

The post Crypto custody and services firm Fireblocks adds support for Solana appeared first on CoinJournal.