What to know:
- Kraken launches HYPE Staking and Auto Earn for passive rewards.
- Users can earn up to 2.2% APY through Bonded Staking.
- The launch expands Kraken’s Earn ecosystem across global markets.
Kraken is making passive earning rewards with Hyprliquid (HYPE) staking easier through new HYPE staking features that significantly decrease the complexity of on-chain staking.
The exchange has rolled out HYPE Staking and Auto Earn, which allow customers to earn rewards for holding HYPE coins without any technical knowledge to manage validators and computing infrastructure. The new features also add to the exchange’s growing Earn ecosystem.
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Kraken Introduces Multiple Earning Options
By introducing these two new features, the exchange has created three ways to earn rewards on your HYPE holdings. The highest payouts occur through Bonded Staking, where you can earn an estimated return of up to 2.2% APY (annual percentage yield) on your HYPE holdings.
The second is through using Auto Earn and Flexible Staking options, and you can earn an estimated return of up to 1.1% APY through these two methods while maintaining the liquidity of your assets.
The exchange states that rewards earned through staking will be automatically compounded through the process of restaking, giving users the potential to increase their holdings over time.
Focuses on Simplicity and Accessibility
The exchange has stated that they manage all aspects of the staking infrastructure and reward distribution, thus allowing customers to begin earning with only a few clicks of the mouse. It has designed its business model around eliminating technical barriers to staking opportunities for customers.
“Staking HYPE often means locking up tokens, and we didn’t think holders should have to choose between earning rewards and keeping their tokens accessible.”
According to the exchange’s official announcement, the new staking options are designed to provide users with greater flexibility while earning rewards.
Director of Product for Kraken Earn & Trade, John Zettler, stated that Bonded Staking offers returns comparable to on-chain staking while reducing complexity for users.
Kraken Expands Global Earn Services
The launch of its latest HYPE staking service now makes the offering accessible across multiple supported markets, including:
- USA (except NY and ME)
- UK
- EU
- Australia
Currently, this product will not be available in Canada or the UAE.
This launch also signifies its commitment to expanding its Earn platform, thus creating additional ways for users to generate value from their assets.
With the addition of simplified HYPE staking, the exchange is providing users with an easier way to earn rewards and solidifying its foothold in the ever-evolving crypto staking industry.
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