On April 7, the Bitfinex cryptocurrency exchange announced the entry into the staking market.

On official Twitter, the Bitfinex team said that users can earn 10% per year simply by storing proof-of-stake tokens on the exchange.

Technical Director Bitfinex Paolo Ardoino commented on the news:

At launch, we will provide support for EOS, V.Systems and Cosmos tokens (ATOM), and Tezos (XTZ) will be added in May. In the coming months, support for all staking tokens will be provided.

Answering a question about creating an initial list of supported coins for staking, Ardoino noted that Bitfinex is one of the key “producers” of EOS blocks and provides a “truly active” EOS market, while Cosmos and V. Systems are the “two most popular blockchains with support for staking. "

The representative of Bitfinex explained the decision to enter this market by the growth in consumer demand. Already at the first stage of the launch of Staking Bitfinex, the service will be available to all types of customers, both retail and institutional. According to the team, client tokens will be stored in Bitfinex's own storage.

It is worth noting that the fee for storing cryptocurrencies is the same for all three assets, namely a fixed 10% per annum. However, it remains unclear what fees the exchange will charge for this service.

Bitfinex did not become a pioneer in the niche of staking among the leading crypto exchanges. Earlier this opportunity was announced by Coinbase, Binance and Kraken.

Coinbase and Kraken currently offer only tezos coin staking, remaining the largest tezos staking operators. Binance rewards customers for storing more than 15 coins, including Tezos, EOS and ATOM.

Kraken is expected to add support for ATOM and DASH coins soon.

It should be noted that some venture firms and custodian companies, including Fenbushi Capital and BitGo, also offer staking services.