It’s Staking Reward Monday, and we have a few important updates regarding our staking service.
Stake Your Chainlink
Today, July 26, we are enabling staking for Chainlink (LINK) on Bitvavo. You can now stake your LINK and receive staking rewards, with a current APY of 0,49%. We see staking as an important service that provides financial flexibility and an opportunity to make the most out of your digital assets, and we will continue to work on ways to add new assets to our staking service. Read more about staking on Bitvavo.
Due to recent developments in market conditions and our desire to create a long-term, sustainable staking service, we will be adjusting the staking APY for several digital assets. This adjustment will affect Ark (ARK), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Icon (ICX), Litecoin (LTC), Tron (TRX) and Tezos (XTZ). You can see the new APYs for all affected assets in the table below:
Easier Reward Compounding
Finally, following numerous requests we’ve gotten over the past few months, we will start distributing the staking rewards of Neo (NEO), Ontology (ONT) and VeChain (VET) in their respective digital asset, instead of distributing these rewards in Gas (GAS), Ontology Gas (ONG) and VeChain Thor Power (VTHO). Our goal is to allow you to more easily compound staking rewards and provide a frictionless, long-term staking service solution.
We'll continue working on creating a better, more convenient staking service, and we hope you'll continue to enjoy staking on Bitvavo.