“The launch of Gemini Staking underscores our continued commitment to offering a full suite of innovative options for our customers to put their crypto assets to work,” claims Franck Kengne, Gemini’s Product Manager.
Popular crypto platform Gemini announces integrating Polygon staking into its services. The firm begins providing staking rewards for Polygon and announces support for ETH staking just as the Ethereum community prepares for the blockchain's transition from a Proof-of-Work to a Proof-of-Stake protocol.
Gemini Staking is the newest addition to the platform that will allow users to stake their Proof-of-Stake crypto assets and earn rewards by validating transactions on the blockchain.
Layla Amjadi, Vice President of Product at Gemini, states: “It’s now more clear than ever that people are interested in staking, especially now that we’re on the cusp of the Ethereum Merge.”
So far, Gemini has added support for Polygon (MATIC), and the platform promises to integrate Ethereum, Solana, Polkadot, and Audius into its staking ecosystem. Moreover, Gemini guarantees to reimburse any slashing-related losses incurred to users’ staked assets by its validation process.
As of writing this article, Gemini Staking is only available for users residing in the U.S. (except New York), Singapore, and Hong Kong.
Gemini clarifies that staking is the platform’s second yield-producing product, following Gemini Earn. The platform further contrasts the two and claims that Gemini Earn issues rewards in partnership with third-party borrowers while Gemini Staking provides newly minted tokens as rewards for blockchain validation.
