BitGo Expands Solana Crypto Staking Rewards Program
Cryptocurrency custodian and broker BitGo is expanding its Solana staking rewards program.
The expansion is happening via a new integration with Marinade Native, a staking protocol developed by Web3 software development company Marinade Labs, according to a Monday (April 28) press release.
“BitGo clients can now start staking their Solana securely from within their BitGo wallets using Marinade Native, unlocking highly competitive staking rewards while maintaining full control of their assets,” the company said in the release. “Two elements of Marinade Native set it apart from other staking options: its Stake Auction Marketplace (SAM) and its Protected Staking Rewards (PSR). When a BitGo client stakes with Marinade, they are not delegating to a validator run by Marinade. Instead, multiple validators bid on the delegated Solana. Marinade’s protocol passes validator rewards back to the user, giving them a higher-than-market-average staking rewards rate.”
In addition, BitGo clients retain custody of their Solana while staking with Marinade Native, earning staking rewards while their Solana remains securely in their wallets, according to the release.
Marinade’s staking protocol is also embedded with protected staking rewards, a feature that protects Marinade stakers and reimburses them for unexpected underperformance of a validator in the stake pool, like commission changes or extended downtime, per the release.
Meanwhile, crypto companies have reached 88 deals worth a total of $8.2 billion since the start of the year, almost triple the transaction value from 188 deals in the crypto sector in the whole of 2024.
“There’s optimism that finally things changed,” Architect Partners founder Eric Risley said, per The Wall Street Journal. “The traditional crypto players that are large and at scale are now back in a growth-minded mode, and one of the tools that they have for growth is acquisitions.”
Dealmaking in the crypto world had slumped in the past few years after the downfall of FTX, which ushered in a wave of new regulation efforts. However, when President Donald Trump was elected in November, attitudes began shifting.
Trump has named crypto-friendly regulators and promised to make the U.S. the “undisputed bitcoin superpower,” while the Republican-led Congress is at work on legislation to set up a regulatory framework for digital assets.
The post BitGo Expands Solana Crypto Staking Rewards Program appeared first on PYMNTS.com.