September 21, 2023

Coinbase Custody customers will be able to stake Polkadot tokens

Infrastructure Provider Bison Trails Will Allow Coinbase Custodian Customers to Delegate DOT tokens to their validators to receive remuneration for staking. It is reported by Coindesk.

“Integration will incredibly simplify secureowning and earning money on Polkadot token staking ”- says the founder and head of Bison Trails, Joe Lalluz. The company plans to add “in the near future” support for other protocols.

“By partnering with Bison Trails, we can offer customers an easy way to participate in Proof-of-Stake networks such as Polkadot (DOT),” - explained the advantages of the transaction Sam Mackingale, CEO of Coinbase Custody.

The core network of the Polkadot project, which is being developed by co-founder Ethereum Gavin Wood, is due to be launched this year.

In October 2017, the project raised $ 145 million through the ICO, and after the completion of the private token sale, its capitalization increased to $ 1.2 billion.

In February 2020, Polkadot entered into a partnership with Coinbase and announced the distribution of tokens.

Recall that in December Coinbase became a leader inthe volume of assets involved in the staking of the Tezos cryptocurrency. By the end of the first quarter, the number of coins reserved by the site for these purposes exceeded 65 million XTZ.