Crypto Wallet Moonstake Announces Staking Support For Polkadot’s DOT Token

Announcements, News | January 11, 2021 By:

Crypto wallet Moonstake has announced the support of staking Polkadot’s cryptocurrency DOT in its Web Wallet.

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies. The company recently announced partnerships with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan’s biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Catalist-Listed company.

Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. Currently, Polkadot’s native token DOT, a cross-chain protocol for data and asset interoperability, is one of top 10 cryptocurrencies by market cap, rising more than 40% in December 2020 after two confidence votes by Binance, the largest crypto exchange by spot trading volume. As of January 2021, 63% of the total supply or $6 billion of DOTs have been staked since Polkadot’s mainnet launched in May 2020.

Moonstake said in a press release that it has added Polkadot’s staking service to further enhance the staking of cryptocurrency’s top market capitalization coins and give users more choices.

To stake DOT on Moonstake, users will have to register their mobile Moonstake wallet, add DOT with “Add New Asset,” transfer DOT to Moonstake web wallet then click the “Stake Now” button. APY is 13.32%. To receive the staking rewards, users must manually claim their rewards using the function inside the staking tab. Staking rewards are kept available for 84 days only.