Posted 1 year ago | by Ben Armstrong
KuCoin Becomes the First Staking Partner of Zilliqa (ZIL)
Staking for Zilliqa (ZIL) will go live soon on KuCoin!
The Zilliqa Mainnet was launched in January of 2019 and brought in many investors with the activation of staking which allows holders to earn more ZIL. Zilliqa has announced to investors that staking was live on the Testnet version of the network since April of this year.
In addition, potential partners were informed about the availability of staking code and the documentation that would allow them to build prototype services for testing.
If you would like to learn more about Zilliqa, or sign up for an account with KuCoin, please click right here. KuCoin offers traders and investors loads of options, and also has great margin rates for leveraged futures trading!
KuCoin First Major Partner of Zilliqa to Confirm Support for Staking
According to an announcement citied by the Zilliqa monthly newsletter for May 2020 published on June 3, 2020, the team at ZIL stated that KuCoin will be its first major partner which will support ZIL staking.
The team continued providing the following updates regarding staking on the Zilliqa mainnet through an elaborate medium post:
– Quantstamp has completed a security review; no major issues have been identified. The report of the staking contract is now public.
– Production staking contract has been deployed to the mainnet. We are in the process of onboarding staking partners (Staked seed node operators).
– It was recently confirmed that Kucoin will be one of our staking partners! More to come on this.
– Work has commenced on the non-custodial staking contract.
Since KuCoin will become the first major partner of Zilliqa to support the staking of ZIL, that will let more exchanges and wallets to express their intention to support the feature in the future.
Great Returns for Stakers
The Zilliqa website said to investors for expecting around 10% in annualized returns.
With this partnership, the value of ZIL is most likely to continue increasing its value when demand for the coin go to up due to staking. This may allow Zilliqa to attract more investors, and also to expand its profile in the crypto world.
As assets in the established financial markets fall prey to ultra-low interest rates, the double digit returns that cryptos offer may shift more investors who are hungry for yield into the crypto markets.
Central banks can't really allow interest rates to rise, which may be an amazing market dynamic for cryptos in the medium term.