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Thanks to improvements made to Tezos’ reward issuance mechanism, which were brought on by the Paris Protocol update, you can now earn more on your XTZ when you stake with Kraken.
Kraken is introducing Bonded staking for XTZ, which will allow XTZ holders to earn 12-16% APR on their coins. While Kraken has supported flexible staking for XTZ since December 2019, we are now allowing our clients to earn even more on the XTZ they hold in their Kraken accounts.
Already have XTZ in your Kraken account or in another crypto wallet? You can start earning additional rewards on your XTZ with lock up periods as short as 10 days.
You now have two options when earning rewards on your XTZ with Kraken:
12-16% on 10-Day Bonded Terms: Lock up your XTZ for just 10 days to maximize your returns and earn an industry leading 12-16% APR with Kraken. 5-8% on Flexible Terms: Enjoy 5-8% APR while keeping virtually instant access to your XTZ with no lock-up period.Does that sound like something that fits your crypto strategy? If so, you can start staking your XTZ with Kraken today or check out our complete guide on How to buy Tezos (XTZ) to get started.
What is Tezos (XTZ)?
Tezos is a cryptocurrency designed to run smart contracts and decentralized applications. Tezos is unique from other protocols, in that it can update its features without the need for a hard fork. It also uses a liquid proof-of-stake consensus mechanism, which allows XTZ owners to delegate validation rights to other token holders and still earn staking rewards – without giving up custody of their cryptocurrency.
Check out our article What is Tezos (XTZ)? to learn more about the protocol.
What is crypto staking?
Crypto staking allows holders of certain cryptocurrencies to earn a reward in return for helping to secure the blockchain network. Staking utilizes a series of incentives and penalties in order to ensure the reliable operation of proof-of-stake based blockchain networks.
To learn more about staking, check out our article What is crypto staking?
What is Bonded staking?
Bonded staking is a way for you to earn even higher rewards on the crypto you hold. While you always have the ability to stake and unstake in moments with flexible staking on Kraken, Bonded staking allows you to earn higher rewards for ‘locking-up’ your crypto for a short amount of time.
Learn more about Bonded staking here.
Why stake with Kraken?
Kraken offers a convenient and reliable way to earn rewards for helping to secure blockchain networks like Tezos. Kraken helps you not just keep your staked XTZ safe, but also avoid so-called slashing penalties that can be a risk on other staking platforms.
Kraken is also one of the largest “bakers,” meaning we operate one of the largest validator node networks for XTZ. You can earn 12-16% or more on your XTZ by visiting the Earn tab on the Kraken Pro app or web before you allocate your XTZ today.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
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