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Coinone Diversifying Financial Services
Expanding Daily Staking Services
Coinone Diversifying Financial Services
  • By Yoon Young-sil
  • February 11, 2020, 11:28
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South Korean cryptocurrency exchange Coinone has launched daily staking of Luna coins.

South Korean cryptocurrency exchange Coinone announced on Feb. 10 that it launched daily staking of Luna coins. Earlier, Coinone launched the same service for Atom coins in November last year.

Coinone’s daily staking service is characterized by automatically providing a daily interest for a coin deposited in itself. The staking reward for Luna is to provide 90 percent of trading fees generated on blockchain payment platform Tera. The staking interest increases with the size of the platform.

Users can freely trade, deposit and withdraw Luna even after the initiation of the daily staking service. Previously, Coinone’s general staking services blocked the trading, deposit and withdrawal for a certain period of time after initiation. Coinone is planning to provide the first reward for those using the daily staking service for Luna on Feb. 11. The interest income is going to be deposited into their Coinone wallets.

In the meantime, Coinone released the Coinone Plus service in December last year. It is an integrated financial service for cryptocurrency holders that provides cryptocurrency-based rewards for Coinone users. At that time, Coinone launched a lock-up service in addition to its existing general and daily staking services.

The lock-up service is to provide principal and interest for Coinone users who keep their coins in the exchange for a predetermined period of time. It is a one-off event and the coins subject to the interest payment and the periods are different.