Kraken Now Offering Solana Trading, Staking in US, Canada, Australia, Covalent Trading Starts July 6 in Certain Areas

Following digital asset firm Kraken’s listing of Solana (SOL) on June 17, 2021 for most jurisdictions, the company is pleased to confirm that Solana trading and staking will be available to US, Canada and Australia residents as well.

As mentioned in an update from Kraken:

  • Deposits and withdrawals for SOL “are open.”
  • Trading “is live for SOL now.”
  • Staking is available for SOL “with up to 6.5% in yearly rewards.”
  • SOL trading and staking “is not available for residents of Japan.”
  • You may deposit SOL now on Kraken platforms.

Here’s an overview of Solana shared by the Kraken team:

Solana – 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.”

Here’s the trading and staking schedule:

  • Funding: Already available – you can deposit SOL now.
  • Trading: Already available – you can trade SOL now.
  • Staking: Already available – you can stake SOL now.
  • Trading Pairs: Solana (SOL) will be available for trading in USD, EUR, GBP and BTC.

(Note: check here to learn more about how to deposit, stake Solana along with other options via Kraken). This offer is available on: Kraken, Kraken Pro, OTC, but not yet available for Kraken Futures and Margin Trading.

Going on to clarify whether the trading platform will be listing more assets, Kraken said:

“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.”

In a separate announcement from Kraken, the company said that they’re excited to reveal that Kraken is now supporting Covalent Query Token (CQT).

As noted by the crypto trading platform:

  • Deposits and withdrawals are available starting now
  • Trading will begin on July 6 at approximately 15:30 UTC
  • Note: Trading is not available to residents of the USA, Canada, Australia and Japan.

As explained by Kraken, Covalent “provides an API for any individual, company or decentralized application to access blockchain data.”

The company further noted:

“The Covalent team created a software that indexes and stores smart contract, wallet, block and transaction data from multiple blockchains, including Ethereum, Polkadot and Elrond. Covalent’s API helps developers easily access billions of data points that can be used for their specific projects and needs.” 

The Kraken team added that the Covalent Query Token (CQT) is Covalent’s native digital currency and is the primary method of payments between developers requiring data and transaction or block validators who “answer those queries.” Holding and staking CQT also “enables participants to vote on protocol upgrades to the network. ”

Here’s the funding and trading schedule:

  • Funding: Already available – deposit CQT now.
  • Trading: Starts July 6 at approximately 15:30 UTC (Kraken will enable order entry and execution at this time).

As noted by the company, updates will be “posted on the status page near launch time.” Trading pairs for CQT: CQT/USD. CQT/EUR.  (Note: for details on how to make deposits and other information, check here.)

This offer is available for: Kraken, Kraken Pro, OTC, and not yet offered on Kraken Futures or Margin Trading.

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