Digital asset exchange Bitfinex announced on Tuesday it is offering a new Staking Rewards Program that will allow users to earn rewards by holding funds on the Bitfinex platform. The Bitfinex team revealed that the program was designed to provide users with “another avenue” to increase the value of their holdings.
The program will also enable customers to earn rewards as high as 10% per year by depositing and holding tokens. The tokens available for staking rewards are EOS, Cosmos (ATOM), and v.systems (VSYS) with Tezos (XTZ) to launch in May. It was also revealed:
“The staked digital assets will be held safely on our platform, utilizing Bitfinex’s secure in-house custody solution. When Bitfinex stakes a digital token, it is delegated by the exchange, meaning that the tokens remain in the platform’s control and are secured in the same manner as other tokens.”
As part of the program’s launch, Bitfinex is hosting a competition called “sTake a Bitfinex T-shirt.” Participants in the competition will have a chance to win a branded Bitfinex t-shirt.
Founded in 2012, Bitfinx is a digital asset trading platform that claims it offers “state-of-the-art services fo digital currency traders and global liquidity providers.