Kraken adds SOL and Serum (SRM) tokens, Solana staking launched
An increasingly popular blockchain project, Solana therefore sees its token listed on this major crypto exchange known for its reliability and security.
SOL staking is advertised with an interest rate of up to 6.5% and is already available on Kraken.
Trading of SOL and SRM tokens starts on June 17, 2021 at 3:30 p.m. UTC.
SOL and SRM token deposits are already possible on Kraken accounts pending the start of trading tomorrow.
What are the Solana (SOL) and Serum (SRM) projects?
Solana is a blockchain platform that aims to increase user scalability through faster transaction settlement times.
Solana software includes a flexible infrastructure that allows developers to write and launch smart contracts using multiple programming languages.
SOL cryptocurrency plays a key role in maintaining and operating the Solana ecosystem and is used to execute smart contracts, send transactions, and incentivize actors who support the network.
SRM is the cryptocurrency used by Serum, software running on Solana where a global network of users maintains an exchange where cryptocurrencies can be bought and sold by traders.
At the heart of its design is a decentralized order book aimed at functioning in the same way as traditional exchanges by matching buyers and sellers.
SRM holders can use their tokens to pay fees on the exchange while receiving up to 50% discount.
An announcement from Kraken which should therefore attract SOL token holders who wish to do Solana staking.
Staking makes it easy to generate passive income by making your tokens available on the platform.
Recently, Kraken also launched Cardano (ADA) staking and offers staking with other cryptocurrencies at attractive rates such as Polkadot (DOT) staking, Kusama (KSM) staking with 12% guaranteed interest, or KAVA staking with 20% interest!
If you want to know more about SOL, Cardano, Polkadot or Kava staking, just create a free account on Kraken: click here.