On Tuesday (April 7), digital asset exchange Bitfinex announced the launch of its Staking Rewards Program, which “allows users to earn rewards by holding funds on the exchange.”
In a press release shared with CryptoGlobe, Bitfinex, which was founded in 2012 and is based in the British Virgin Islands, said that this program would allow Bitfinex users to earn staking rewards “as high as 10% per year.”
Bitfinex also mentioned that the staked cryptoassets “will be held safely, utilizing Bitfinex’s secure in-house custody solution”, and that a staked digital token is “delegated by the exchange, meaning that the tokens remain in the platform’s control, secured in the same manner as other tokens.”
Paolo Ardoino, the Chief Technology Officer at Bitfinex, had this to say:
“We’re committed to engaging our existing users and the wider community with new products and innovations.
“The Bitfinex Staking Rewards Program provides our users with another avenue to increase their holdings on our platform.”
On Tuesday (March 24), crypto exchange Bitfinex announced that it has “deployed a proprietary surveillance tool — Shimmer — to combat market abuse and help promote orderly trading on the exchange.”
Featured Image Courtesy of Bitfinex