Last week, we reported that decentralized finance platform ICONFi was about to launch its staking service for NEAR, the native token of the NEAR protocol.
Well, that service has officially launched. Be sure to update your ICONFi app before using the service.
ICONFi was kind enough to post a very helpful tutorial on how to stake NEAR (see link above) — couldn’t be simpler.
To celebrate the event, ICONFi is hosting its “King of Staking” event, with the winner receiving 200 ICX, and 30 ICX given to 10 random event participants. See the link for details.
NEAR Protocol is a proof-of-stake (PoS) layer-1 blockchain, which means it’s a base network upon which you can build smart-contract based DApps, akin to ICON or Ethereum.
It’s interoperability-focused, with its own interoperability technology called Rainbow Bridge, and highly scalable thanks to its unique sharding technology.
It’s also got some serious financial mojo behind it. In April, it announced it had raised USD 350 million, coming just three months after raising another USD 150 million.
Like many cryptos, it’s had a really ugly couple of months, but it’s still trading at over USD 3.00.
ICONFi also took to Twitter to remind the community that when the crypto market takes a turn for the worst, you can still earn passive income on your BTC, ETH and other cryptos using ICONFi’s savings wallets.
These allow you to earn up to 11 percent compound interest on USDT and USDC stablecoins in a 180-day fixed account, and 8 and 7 percent for BTC and ETH, respectively. Use the nifty calculator at their site to compute expected interest earnings.
ICONFi has provided compound interest 2,779,864 times without a single error.
As we explained earlier this year:
“What’s especially great about ICONFI savings wallets is that users receive compound interest every 4 hours. Furthermore, while many other crypto savings platforms have a tiered system that drops interest rates dramatically for larger deposits, ICONFI’s rates are not tiered. And for those who do most of their trading on Binance, ICONFI wallets also support Binance Smart Chain (BSC) with transaction fees of less than US$1 and the same compound interest rates.”
If you’re going to HODL, you might as well make a bit of bank while you’re at it.
