- KDA staking officially opened on the 3rd of November on Coin Metro
- Users can generate passive income by staking their KDA coins if they have at least 100 KDA in their CoinMetro account
Kadena is a public blockchain that tries to optimize for scalability. It also includes a new smart contract language, codenamed Pact, that includes formal verification and the ability to modify smart contracts as they are created. Kadena also uses a new Proof-of-Work (PoW) consensus technique known as Chainweb, which consists of numerous individually mined chains that work in parallel to execute network transactions to achieve consensus. This approach theoretically allows for a high transaction throughput at the base layer without the requirement for any scalability or feature solutions at the second-layer level of abstraction.
Staking Kadena On CoinMetro
KDA staking officially opened on the 3rd of November on Coin Metro. It was reported that the staking recorded 730 000 KDA filled in 20 minutes.
— Kadena (@kadena_io) November 4, 2021
CoinMetro Exchange is a European Union-licensed cryptocurrency exchange that provides fiat-crypto-fiat exchange services, margin trading, copy trading, STO marketplace, and fast fiat on and off-ramps in EUR, GBP, and USD to its users. Users can trade for new fiat choices, like SWIFT payment, when they become available.
CoinMetro is a regulated financial platform that hopes to drive Blockchain innovation in the future. CoinMetro’s tokenized ecosystem will give a method for both novices and experienced traders and investors to get engaged in the crypto sector with a level of ease never seen before in the industry.
From listing KDA on CoinMetro and introducing the world’s first-ever KDA/USD pair to streamlining Kadena Bonding into this easy-to-use staking, the Kadena-CoinMetro continuous relationship has been a beautifully fruitful one.
How Does Kadena Staking Work?
Users can generate passive income by staking their KDA coins if they have at least 100 KDA in their CoinMetro account. KDA can be bought and sold on CoinMetro, or placed into users’ accounts. As a result, they can trade KDA on CoinMetro using both USD and EUR trading pairs or the Swap Widget.
One month, three months, six months, or one year are the duration options available for staking. As a result, staking over a longer period will enhance monthly rewards, calculated solely on the timeframe.
These are the rates available to people that wish to stake
- 11% APY for one-month plans
- 14% APY for three-month plans
- 16% APY for six-month plans
- 18% APY for a one year plan
Future of Kadena and Past Achievements
Kadena has been able to achieve major milestones in 2020 and 2021.
These milestones include:
- Launching the world’s first sharded and scalable layer-1 blockchain
- Integrating Kadenamint and wallet with Cosmos
- Adding Chainlink price feeds to Kadena’s platform
- Announcing that Kadena was among the first to implement Rosetta API by Coinbase
- The official listing of KDA on Bittrex Global
- Collaborating with Web3 Foundation to bring Pact to Polkadot
- Introducing the first crypto gas stations (on-chain)
- Scaling of public blockchain from 10 to 20 chains
- Introducing formal developer program with grants
- Collaborating with Terra to bring LUNA stablecoin to Kadenaswap DEX
- Joining Alliance for Prosperity and onboarding Celo stablecoin to Kadenaswap
It is believed that the Kadena project with continue on its path to forge more collaborations and develop new technology to drive its growth.