Kraken to Support Tron (TRX) Staking, and Akash Network (AKT) Trading Starting Feb 1

The team at digital asset firm Kraken is pleased to confirm that their platform now supports staking for TRON (TRX) holders.

You may head into the Earn section of your Kraken account to begin earning rewards on your TRX (as of January 28, 2022). Please note that TRON staking is “not available to residents of the US, Canada, Australia and Japan.”

As explained in the update, TRON is a smart-contract-powered blockchain platform where developers are able to deploy their own decentralized apps (dApps). TRON is powered by Delegated Proof of Stake (DPoS), enabling holders of its native token, TRX, to vote on who may start earning rewards for validating transfers via the blockchain. TRON’s aim or vision is to establish a decentralized version of the Internet.

As noted in the announcement, you may earn as much as 9% in annual rewards, distributed on weekly basis. All deposits require 20 confirmations (~1 minute). You may add TRX to your Kraken account by “navigating to Funding, selecting the asset and hitting Deposit.”

While commenting on whether Kraken plans to list more assets, the company confirmed that they do intend to so. 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 digital tokens are available via their website, and all future tokens will be “announced on Kraken’s blog and social media profiles.” Their customer engagement specialists “cannot answer any questions about which assets we may be listing in the future.”

As noted in the update, limit orders are “recommended when trading starts since the markets may be illiquid initially.” As always, Kraken reminded users to be “extremely careful with market orders and orders that trigger market orders (e.g. stop loss).”

As confirmed in the announcement, listing an asset or token for trade is “not a recommendation to buy, sell, or participate in the associated network.” Traders and investors are reminded to do their own research and invest at their own risk.

In another update, Kraken revealed that they are now supporting Akash Network (AKT).

You may add AKT to your Kraken account by “navigating to Funding, selecting the asset, and hitting Deposit.” Trading will “begin February 1.”

As explained by Kraken, Akash Network is a decentralized and open-source Cloud computing marketplace that aims to “accelerate app deployment in high-growth industries like blockchain and machine learning.”

The AKT token offers security via staking and “acts as a unit of account for pricing all of its marketplace’s supported currencies.”

For more details on this update, check here.


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