The protocol also plans to hire workers from direct rivals in the U.S.
High Yields on Staked Crypto Assets
Binance US, the United States arm of Centralized Exchange (CEX) Binance, launched staking for users on June 7th. The new feature promises yields of up to 18% Annual Percentage Yield (APY).
The American platform launched the staking service to outperform other exchanges in the U.S. like Gemini, Kraken, BlockFi, and Coinbase.
Binance.US staking allows users to lock in assets to support Proof-of-Stake (PoS) blockchains, which include Avalanche (AVAX), BNB Chain (BNB), Audius (AUDIO), Cosmos (ATOM), Solana (SOL), The Graph (GRT), and Livepeer (LPT).
The exchange platform tweeted that it would add more PoS blockchains and tokens in the future.
During an interview, the CEO of Binance US, Brian Shroder, disclosed his plans to outperform other exchanges in the region, and to hire staff from rivals Coinbase and Gemini.
The decision to hire staff from both rivals came after Coinbase declared plans to withdraw all job appointments and freeze staff applications last week. Similarly, Gemini announced that it would sack 10% of its staff.
“We are hiring Coinbase and Gemini people onto our staff. There is a lot of talent from those organizations that are applying to our open positions, and we are actively interviewing them,” Shroder said.
Users can now visit the Binance US staking page and earn up to 18% APY, the highest rate amongst crypto firms in the U.S. However, tokens with a small market cap like Livepeer tokens may yield that percentage over larger-cap tokens.
What is Binance US:
Binance US is the American arm of the world’s largest cryptocurrency exchange platform, Binance. Users on the platform can buy, sell, and trade over 60 popular crypto assets, including Ethereum (ETH), Solana (SOL), BNB Chain (BNB), and Bitcoin (BTC).
Where to find Binance US:
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