As part of our continued effort to support the Cosmos ecosystem and provide value to our customers, Poloniex will become one of the first crypto asset exchanges to support Cosmos staking. Coming in summer 2019, eligible customers who hold atoms on Poloniex will automatically earn staking rewards while maintaining the ability to trade.
Staking for Cosmos atoms follows a series of innovative opportunities we’ve offered to atom holders, including redemption for ICO participants, margin trading and lending.
More on Cosmos & staking
Cosmos aims to create a network of blockchains all capable of interacting with one another through a consensus engine called Tendermint Core. Cosmos introduces solutions to solve many of the interoperability and scalability issues needed for blockchain applications to reach mainstream adoption. Atoms are the native token of the Cosmos Network.
Where blockchains like Ethereum and Bitcoin secure their networks through Proof-of-Work, the Cosmos Network uses Delegated Proof-of-Stake. Instead of miners committing custom hardware and electricity towards solving computations that secure the network, Cosmos validators “stake” atoms in order to secure the network.
Delegated Proof-of-Stake networks create the opportunity for token holders to participate in crypto networks while earning rewards for doing so. Poloniex is building the infrastructure to stake a portion of customers’ atoms to allow them to effortlessly earn staking rewards without friction while trading.
Stay tuned for more
Cosmos staking on Poloniex is just one of the many methods we’re developing for customers to get more value out of their crypto assets. Follow @poloniex on Twitter for updates on the availability of Cosmos staking and other exciting announcements.