Headquartered in Tokyo, Coincheck that serves as a leading bitcoin wallet and exchange service provider, has announced the launch of the beta version of the world’s first Lisk (LSK) Staking Service. In an official Twitter post, Lisk broke the news about the staking program and addressed it to be the first staking service in Japan.
Founded in 2016, Lisk is a highly acclaimed blockchain application platform that strives to popularize the decentralized network and aims to make it widely accessible for the global population. The firm was the brainwork of Max Kordek and Oliver Beddows. It is headquartered in Zug, Switzerland.
According to the latest reports, the new service will be released as part of a testing phase; however, the firm has promised to share the rewards earned from staking to the Coincheck investors who possess LSK tokens in their accounts. With the staking program, Coincheck aspires to open new doors of convenient cryptocurrency investing for its customers which can lead to the development and innovation of the firm’s ecosystem as a whole.
In recent times, staking has gained a lot of popularity in the crypto world as it helps the investors to earn lucrative returns in lieu of a particular cryptocurrency. The past few months have seen active participation from the world’s biggest cryptocurrency trading exchanges concerning the launch of staking programs for their customers.
About The Staking Service
The Coincheck customers having hold of LSK tokens in their accounts shall be rewarded in relation to the volume of their assets held. The Lisk network which operates on the DPoS consensus algorithm, shall be eligible as well as a certain portion of holdings controlled by Coincheck will be used for voting for the delegates. If the delegates voted by Coincheck grab a spot as one of the top 101, the firm shall be entitled to receive a portion of the reward assigned for the delegates. The rewards shall be given to the delegates every Wednesday. (A delegate is a person who creates and authorizes blocks on the Lisk network.)
- Investors who will hold an average of 10 or more LSK per day in a Coincheck account during the concerned staking period shall be eligible.
- The investors who will have an average of 10 or more LSK per day that are not being traded off in another account during the staking period shall also be eligible.
- Also, the customers who shall be using their accounts in the usual manner can become a participant in the staking service.
The delegates shall receive the described amount as a reward during the staking program:
- Amount received as remuneration for the LSK – Commission
This amount will lie in proportion to the volume of the LSK assets held by the customers.