Thanks to improvements to Tezos’ reward issuance mechanism brought by the Paris Protocol update, you can now earn more on your XTZ when staking with Kraken.
Kraken presents Linked Staking for XTZwhich will allow XTZ holders to earn 12-16% APR on their coins. While Kraken has supported flexible staking for XTZ since December 2019, we are now allowing our customers to earn even more on the XTZ they hold in their Kraken accounts.
Already have XTZ in your Kraken account or another crypto wallet? You can start earning additional rewards on your XTZ with lock-up periods as short as 10 days.
You now have two options to earn rewards on your XTZ with Kraken:
- 12-16% on 10 day loan terms:Lock up your XTZ for just 10 days to maximize your returns and earn an industry-leading 12-16% APR with Kraken.
- 5 to 8% on flexible terms:Benefit from an APR of 5 to 8% while maintaining near-instant access to your XTZ with no lock-in period.
Does this sound like a good fit for your crypto strategy? If so, you can start staking your XTZ with Kraken today or check out our full guide on How to Buy Tezos (XTZ) to get started.
What is Tezos (XTZ)?
Tezos is a cryptocurrency designed to run smart contracts and decentralized applications. Tezos is unique compared to other protocols because it can update its features without the need for a hard fork. It also uses a liquid proof-of-stake consensus mechanism, which allows XTZ owners to delegate validation rights to other token holders while earning staking rewards, without giving up custody of their cryptocurrency.
Check out our article What is Tezos (XTZ)? to learn more about the protocol.
What is cryptocurrency staking?
Cryptocurrency staking allows holders of certain cryptocurrencies to earn a reward in exchange for their contribution to securing the blockchain network. Staking uses a series of incentives and penalties to ensure the reliable operation of proof-of-stake blockchain networks.
To learn more about staking, check out our article What is Cryptocurrency Staking?
What is Linked Staking?
Linked staking is a way for you to earn even higher rewards on the cryptocurrencies you hold. While you still have the ability to stake and withdraw tokens in moments with flexible staking on Kraken, linked staking allows you to earn higher rewards by “locking” your crypto for a short period of time.
Learn more about linked staking here.
Why bet with Kraken?
Kraken offers a convenient and reliable way to earn rewards for helping secure blockchain networks like Tezos. Kraken not only helps you protect your staked XTZ, but also avoid so-called slashing penalties that can be a risk on other staking platforms.
Kraken is also one of the largest “bakers,” meaning we operate one of the largest validator node networks for XTZ. You can earn 12-16% or more on your XTZ by visiting the Earn tab on the Kraken Pro app or web before allocating your XTZ today.
