- Cudos announced the on-chain Ethereum Staking for Cudos Token.
- Users can earn an annual percentage rate (APR) starting at 30 percent.
- To join, users need a Metamask wallet, Cudos tokens, and some ETH to pay for fees.
Cudos recently announced the launch of the project’s very own on-chain Ethereum staking for their native cryptocurrency Cudos token.
According to the Cudos, users can earn an APR starting at 30 percent, which is higher than most staking programs. Users interested in joining need to prepare a Metamask wallet, Cudos tokens, and some ETH to pay for the fees.
The team was very excited about the announcement. According to them, their developers spent a lot of time preparing the smart contract and a user interface that interact with it. The team was happy to announce that the contract will be released on August 2, 2021.
Cudos launched the token back on January 12, 2021, through AscendEX. Since then, the token was also listed in top exchanges such as KuCoin and Gate.io. Pre-staking services were also offered in AscendEX and KuCoin.
According to the team, the pre-staking on AscendEX accounted over 260 million staked — this is 20 – 25 percent of the entire circulating supply of the token. On the other hand, KuCoin’s staking reached the maximum cap a few weeks ago.
Aside from these, Cudos is also currently developing its own layer 1 blockchain within the Cosmos ecosystem. A few weeks ago, the team announced the launch of the private testnet. While testing is making progress, the team will give more in-depth updates on their official platforms at a later time.