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Bitfinex exchange launched a stack for three cryptocurrencies on PoS

Bitfinex exchange launched a stack for three cryptocurrencies on PoS

Clients of the Bitfinex exchange will be able to receive up to 10% per annum when staking cryptocurrencies based on the PoS consensus. Initially, Cosmos, V. Systems and EOS will be supported, and Tezos will be added in may.

“We support EOS coins, V. Systems (VSYS) and the Cosmos (ATOM) project. But in may, we plan to add support for Tezos (XTZ), and in the future, other coins on the POS consensus,” said Bitfinex technical Director Paolo Ardoino.

The launch of the staking service was the result of demand among users of the trading platform. The choice of EOS predetermined the “active EOS market”, and two other projects were selected as “the most popular blockchains with staking”. At the same time, any Bitfinex clients, both retail and institutional, can get access to The service. The exchange’s own custodial solution will be used for storing coins.

Interestingly, Bitfinex offered the same return for each of the cryptocurrencies — 10% per year. It is not yet known what commissions the exchange plans to take.

The launch of betting services based on cryptocurrency exchanges is becoming more and more popular. This opportunity for traders is provided by Coinbase, Kraken and Binance, and if the former only support the XTZ coin, then the Binance exchange offers a stake of 15 cryptocurrencies. After the launch of the corresponding services, it was Coinbase, Kraken and Binance that became the largest validators in the Tezos network.

According to the founder and CEO of Staked Tim Ogilvie, soon every cryptocurrency wallet, custodial service and exchange will pay attention to the betting business.