Digital asset firm Kraken is pleased to announce that their trading platform now supports staking for MINA token holders.
Kraken users may head into the Earn section of their accounts to put their MINA “to work” today (staring January 18, 2022).
(Note: Staking is currently not available to residents of the US, Canada, Australia and Japan.)
As explained in the update from Kraken, Mina’s blockchain is built to “maintain its size, regardless of the number of people accessing it, using a technology called zero-knowledge proofs (zk-SNARKs).” The Kraken team further noted that these are like “micro-crypto certificates stored by nodes and used to verify transactions in a private and efficient manner, allowing nodes to avoid storing the entire chain.”
The update also mentioned that Mina is a proof-of-stake protocol “for programmable payments and apps.” Its native currency, MINA, can be “used by holders to help govern the ecosystem and for payments to its on-chain applications.”
What you need to know:
You may earn “up to 20% in yearly rewards, distributed weekly.” Deposits “require 15 confirmations (~60 minutes).” You can “add MINA to your Kraken account by navigating to Funding, selecting the asset and hitting Deposit.”
While addressing a question about whether Kraken will be listing more assets, the company noted that they do intend to add support for more tokens. However, their 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.”
The company also confirmed that their client engagement specialists “cannot answer any questions about which assets we may be listing in the future.” Like always, Kraken reminded users to trade and invest with caution. The firm also noted that limit orders “are recommended when trading starts since the markets may be illiquid initially.”
The team at Kraken pointed out that you should “be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).”
The firm added that “listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network.” As always, do your own research and invest at your own risk, the company suggested.
In a separate announcement, Kraken noted that they now support trading with Astar (ASTR).
Funding is live, and trading will begin shortly (as of January 18, 2022). You can keep an eye on the status page for updates. You may “add ASTR to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit.” Deposits “require 25 confirmations (typically 2 minutes).”
Kraken also mentioned that ASTR “will be tradable against USD and EUR, with a price precision of 3 decimal places. ” (Note: Trading is not available to residents of the USA, Canada, Australia and Japan.)
As mentioned in the announcement, Astar Network is “a Polkadot-based, multi-chain decentralized application (dApp) hub that supports the Ethereum Virtual Machine, WebAssembly and Layer 2 protocols.” Astar’s feature-rich design aims to “make it the go-to ecosystem for smart contracts on Polkadot.”
Kraken and Kraken Terminal “will be available for ASTR.” Kraken Futures and Margin Trading “won’t be available at launch.”
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