- Polkadot native staking skyrockets in response to the launch of the new dashboard, increasing accessibility for users who start with as little as 1 DOT.
- The improved user experience expands the user’s control and ownership over their assets without relying on third-party centralized staking services.
- DOT price is in an uptrend and yielded 8% gains for holders since February 10.
Polkadot, an Ethereum competitor, introduced on-chain pooling of staked DOT, promoting native staking over centralized third-party platforms. This method increases the user’s control and accessibility allowing for as little as 1 DOT to be staked.
Also read: MATIC price gears up for rally despite concerns around Ethereum Virtual Machine scalability
Polkadot improves native staking for DOT holders
Polkadot, an Ethereum competitor, recently upgraded its native staking experience for users. The platform highlights caters to users looking for decentralized native staking, allowing for as little as 1 DOT token to be staked for earning rewards.
The latest update allows users to maintain control and ownership over their assets. The improvements include a real countdown timer showing the time remaining in the current era, indicating when rewards will be paid out.
The staking process has been simplified and it now accommodates global users with app-wide localization and translation into English and Chinese, and more languages on the way.
Other updates include services like finding the most trustworthy validators, that verify transactions in the Polkadot network. Stakers can make informed decisions in their selection process and take main actions.
Updated experience for Polkadot native staking
The team has planned future improvements including support for fast unstaking, waiting for 28 days. This is already available on Kusama and projected for Polkadot. Users now have an option for pool-switching and changing nomination pools without a wait.
Polkadot Staking Metrics
As seen in the chart above, there is a consistent spike in the number of stakers on Polkadot, fueling a bullish narrative for DOT. The asset has yielded nearly 8% gains over the past week and continued its uptrend, hitting a weekly high of $6.79 on February 17.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.