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Benefit From The Scalable Solutions Staking Programs Tool

Mar 11, 2022

Scalable Solutions has introduced the Staking Programs Tool. It enables brokers to launch and manage staking programs on the trading platform for their clients. This feature will allow brokers, in partnership with the token projects, to accrue rewards on users’ balances.

In general, staking can be viewed as an alternative to mining that is less resource intensive, allowing users to earn rewards for holding certain digital assets.

The staking market has been gaining popularity in the past couple of years. With a current market capitalization of US$ 35.76B and a total cryptocurrency market capitalization ranging between US$ 392B and US$ 420B [2020], it captures almost 10% of total market share.

About The Staking Programs Tool

The Scalable Staking Programs Tool allows brokers to attract more users of new coins and tokens, helping them increase the loyalty of their current audience and generate more liquidity.

Brokers can set up certain staking options for their digital assets, including:

  • The staking term of the program
  • The rate
  • The compensation frequency

The tool is available on Wallet, Spot and Derivatives accounts.

Marketing vs Partner Staking

The staking feature has multiple use cases. These include:

  1. Marketing staking – the budget allocated by the team of the token is spent on payment for rewards. This is a suitable option for coins that do not have native staking.
  2. Partner staking – the budget that is allocated by the token team is not spent on payments for rewards. It is allocated to staking funds on the network, followed by further distribution of the rewards received in the blockchain to users. This is a suitable option for new (young) coins that have native staking.

Profit for the broker can be gained from the payment by a coin project for launching a staking program on the platform and, for example, a maintenance fee.

The profit for the coin projects comes from the broker attracting the attention of its users to a coin and stimulating purchases (trading volumes) of this coin. Token projects may also be motivated by the desire to fairly distribute rewards to coin holders, and not just to those who hold coins in the blockchain (outside the platform).

For full details on each, get in touch with our team here.

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