Coinbase announced yesterday in their blog post that they are considering to add more cryptoassets to their exchange:
Today we’re announcing that we are exploring the addition of a range of new assets. As part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets. These new assets include, in alphabetical order: Algorand, Cosmos, Dash, Decred, Matic, Harmony, Ontology, and Waves.
It is not clear which of these cryptoassets will be listed on the exchange according to Coinbase listing process but trend is very clear
- Coinbase wants to have more solid staking projects on their platform. It fits well narrative of passive income just by holding cryptoassets on your account.
Algorand Foundation Launches 200 Million Algo Staking Reward Program
One of the projects under consideration (Algorand) announced staking reward program which will let Algorand token holders to get 100% or more profit on their holdings. According to the rules of the program minimum stake is 25 Algorand tokens. Today price of 1 ALGO token is $0.747.
Inclusive program offers participants an opportunity to earn a return of more than 100% for holding Algos and supporting the network
Singapore — August 6, 2019 — The Algorand Foundation announced today a staking rewards program that will reward its community with 200 million Algos, and bring additional opportunities and reward to those who share its vision for the long-term success of the Algorand network and its technology.
The program provides 200 million Algos to registered participants, allowing them to increase their position in Algos by holding the token. The rewards will be distributed over the course of four 6-month periods, a total of two years, to qualifying participants who commit by registering (via a micro transaction) by block number 1618450, which is expected to happen on August 31st, 2019. Only the first 200 million Algos across the registered wallets will be eligible.
“The Algorand Foundation is following through with programs that demonstrate their long-term vision and reward all users for supporting the protocol,” said Massimo Morini, member of the Algorand Foundation’s Economic Advisory Committee. “I am pleased the foundation has launched this staking rewards program for the entire community as another important step in the growth of the Algorand network.”
Participants have an opportunity to earn a return of more than 100% by participating in the program. The return rate could increase if some users choose to voluntarily disqualify themselves by dropping out of the program. The Algos which the disqualified users would have received are returned to the reward pool to be distributed to the remaining eligible users.
The entire reward pool is fixed, and 50 million Algos will be distributed on a stake weighted basis to remaining qualifying participants at the end of each 6-month period, according to a published schedule.
For more information about the staking program, please visit algorand.foundation/stakingrewards.
You can buy ALGO tokens on Binance exchange.
I must say that it is not an investment advice and you must follow your own research having in mind that investing in cryptoassets is very risky.