Waves.Exchange has launched its decentralized staking allowing users to securely stake their tokens and earn passive income of up-to 30% annually.
The exchange rewards users with profits made based on the proportion of tokens staked on the platform.
According to Waves.Exchange, many crypto exchanges currently offering staking services but argued that only decentralized staking can guarantee users’ security and true control over their crypto assets.
In centralized exchanges, staked tokens become working capital for the exchanges since the tokens are transferred from the wallet of users to the exchange’s wallet thus losing control over the asset.
Waves.Exchange emphasized that its decentralized staking offers users control over their crypto assets yet allows earning. The service is unique because Waves platform uses the POS consensus algorithm and pays out rewards with the generation of every block.
“the exchange has no access to users’ funds: no one can block staked assets or interfere with users’ ability to collect passive income in any other way.”
It works by letting users to simply sign a special transaction that allows their WAVES to be used by a specific Waves node to generate new blocks. In return, users collect a percentage of the resulting block rewards.
Neutrino Dollar as an alternative
The exchange also offered alternatives, this comes in the package of the Waves decentralized stablecoin, the Neutrino Dollar. The Neutrino Dollar is described as 0″an algorithmic stablecoin pegged to the US dollar and underpinned by Waves’ PoS network.”
According to the exchange, all Neutrino coins are held in a smart contract and users can send their Waves to the smart contract and exchange them for the stablecoin at any time.
The transferred Waves are used by a Waves node as part of a generating balance with users getting daily payments earnings in the Neutrino Dollar.
The exchange boast of higher rates, security and control of funds than traditional financial tools. Quoting the exchange, it said “While daily earnings will fluctuate based on WAVES’ price dynamics — which, in turn, depend on a number of wider factors affecting the crypto markets — USDN staking can still bring annual returns of up to 30%.”