The Hong Kong-based crypto exchange, Crypto.com, on August 07, integrated DAI with its Soft Staking program. This new integration would offer dividends or interest to those users who have deposited their DAI holdings or owns the DAI on Crypto.com’s platform.
To stabilize its value at around $1, DAI leverage its holdings.
Crypto Collateral Support DAI
It is to be noted that usually the stablecoins are supported by the fiat currencies, but this is not the case with DAI. The decentralized cryptocurrency is backed by crypto collaterals which are available on Ehtereum blockchain for the users.
The customers using the cryptocurrencies integrated with staking not only earn dividends or interest on their digital assets but also can vote for making changes in the blockchain.
Crypto.com has announced that people who would be holding or depositing tokens on its platform will get rewards for doing so.
The crypto exchange further notified that the DAI has been integrated into Soft-Staking which means the consumers can access their staked coins without worrying about the commitment period.
Crypto.com Projects Return Rate
It also specified that the crypto exchange would be paying interest to the customers on a regular basis.
The crypto exchange has promised up to 4 percent per annum of return rate to the customers. It has stated that this return rate is based on the amount of CRO which would be staked by the users for 6 months.
Additionally, Crypto.com informed that staked coins price in the market fluctuates regularly, therefore, during the stalking proceeds the market makes different dynamics.
Apart from Crypto.com, there are many other exchanges like Coinbase and Binance that are inclined towards staking services.
In the year 2019, both the Coinbase and Binance started integrating cryptocurrencies to their staking.
In the year 2016, Crypto.com was established but a year later .i.e., in 2017, the exchange released its initial coin offering (ICO).
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