The listing of the Tezos (XTZ) token on OKEx earlier this month shows that the leading digital asset exchange and trading platform in the world now announces the launch of Tezos Baking (staking) service. OKEx Pool in fact announces the launch of Tezos Baking – and said that by availing this service users can achieve annualized yields of up to 5.13% which is higher than any other similar service currently available in the cryptocurrency market.
The yields which will be generated by OKEx Pool and its XTZ baking service will be settled in OKB. As the Tezos news now show, the settlement is carried out in a distributed fashion and will be added directly to the users’ mining accounts on a daily basis.
OKEx Pool now has a flexible staking period listed for its Tezos Baking Service – there are 30, 60 and 90 days and each offers 3.2%, 384% and 5.13% estimated annualized yields, respectively. The lowest yield is carried by the flexible staking option at 2.56%.
The Head of Operations at the exchange commented the OKEx Pool listing of Tezos. Andy Cheung said:
We have always been committed to driving the growth of the blockchain community and ecosystem. Per newly launched Tezos on our trading platform, we are excited to launch it to OKEx Pool as well.”
He also said a couple of words about the different settlement modes and noted:
“OKEx Pool has been of our proud innovation that enables the integration of mining and trading services by directly transferring mining rewards to OKEx mining accounts and supporting different settlement modes. We will continue to adopt quality projects on the OKEx platform and keep on providing users with safe, stable and transparent digital assets mining services.
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The Staking process involves holding on to funds in a cryptocurrency wallet with the intention of supporting the operations of a specific blockchain network. By doing that, the participant will be eligible for a reward (in this case one in XTZ).
According to the platform, in order to participate in the program, users will have to stake at least 50 XTZ in their mining account. The yield calculation will start from the next day and the proportional settlement and distribution will start happening from day 2 onwards.
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