Kraken Adds Solana (SOL), Serum (SRM) Trading, Staking Support for SOL Tokens with Up to 6.5% APY Also Available

Digital asset firm Kraken is pleased to confirm that they’re listing Solana (SOL) and Serum (SRM) along with staking support for Solana (SOL) “with up to 6.5% in yearly rewards.”

As noted in the announcement from Kraken, deposits and withdrawals for SOL, SRM tokens are now open so users may begin depositing at this time. Staking is also available for SOL starting June 15, 2021.

As mentioned in the update, SOL and SRM trading and staking are “not available for residents of the US, Canada, Japan, and Australia at this time.”

Here’s a summary of the new crypto-assets available for deposit on Kraken:

Solana – Solana is a blockchain platform that “aims to increase user scalability through faster transaction settlement times.” The Solana software includes “a flexible infrastructure that allows developers to write and launch smart contracts using multiple programming languages.”

The SOL cryptocurrency “plays a key role in maintaining and operating the Solana ecosystem and is used to execute smart contracts, send transactions, and incentivize actors that support the network.”

Serum – SRM is the cryptocurrency “used by Serum, a software running on Solana where a global network of users maintain an exchange where cryptocurrencies can be bought and sold by traders.” Central to its design is “a decentralized order book aimed to operate similarly to traditional exchanges by matching buyers and sellers.” SRM holders can “use their tokens to pay for fees on the exchange while also receiving up to a 50 percent discount on them.”

Official Project websites:

Funding: “Already available – you can deposit SOL & SRM now.”

Trading: Starts June 17 “at approximately 15:30 UTC (Kraken will enable order entry and execution at this time)”

SOL Staking: Already available today
Updates will be “posted on the status page near launch time”

Trading Pairs

Each new asset will be “available for trading in USD, EUR, GBP and BTC.”

(Note: to learn more about how to deposit, earn, and other information, check here.)

This offer is available on Kraken, KrakenPro. This offer is NOT yet available on OTC, Kraken Futures, Margin Trading

Commenting on whether they’ll be adding more assets, Kraken says:

“Yes. But our policy is to never reveal any details until shortly before launch – not even which assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.”

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