Coinbase Custody and Bison Trails Expand Integration to Enable Staking of Solana Tokens

Coinbase Custody and Bison Trails announced on Wednesday that users would now be able to stake their solana (SOL) tokens on Bison Trails platforms.

STORY CONTINUES BELOW

Recommended for you:

In an announcement posted on its website, blockchain infrastructure firm Bison Trails said this would allow SOL token holders to partake in the Solana network through secure, offline storage to stake the tokens. This would allow users to move the SOL token to Bison Trails’ platform.
While Solana has yet to determine the reward rate for users who choose to stake their tokens, Bison Trails CEO Joe Lallouz said there would be a “warmup” period for the staked tokens allowing them to become active so token holders can start earning rewards.
In April, Coinbase Custody, the digital asset custodial arm of the San Francisco-based cryptocurrency exchange, also announced it would support staking of Polkadot tokens through Bison Trails’ platform.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.