BitGo improves Solana staking capabilities through integration with Marinade's native platform.
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Hey there, let's dive into some juicy crypto news!
BitGo has taken a monumental step forward in the world of Solana, announcing an expansion of its staking program. This leap is made possible through a snazzy new integration with Marinade Native - a staking protocol developed by Marinade Labs.
With this integration, BitGo clients can now stake SOL directly from their wallets without losing custody, all while tapping into competitive rewards. And the cherry on top? This move lends a hand to Solana's network decentralization!
BitGo is now the first U.S.-qualified custodian to offer support for Marinade Native staking.
Here's what sets Marinade Native apart from traditional staking options:
- Competitive Bidding: Marinade's protocol incorporates a Stake Auction Marketplace (SAM). This marketplace allows multiple validators to bid on stake delegation, ensuring users maximize their rewards by delegating to high-performing validators.
- Protected Staking Rewards (PSR): Marinade Native's PSR feature safeguards users against validator underperformance. If a validator slacks off, users receive reimbursements for any resulting shortfall, thanks to this clever feature.
And that's not all! Validators participating in Marinade are required to forfeit an onchain bond, covering potential losses and ensuring the network's well-being.
Jake O., Head of Ecosystem Sales at BitGo, shared his enthusiasm, stating, "BitGo is dedicated to empowering our clients with top-notch infrastructure and the highest potential rewards for engaging in Solana's galactic growth."
Embracing Non-Custodial Staking with BitGo
Marinade Labs CEO Michael Repetný weighed in, announcing that this collaboration with BitGo unlocks easier access to Solana’s staking ecosystem for individuals and institutions. This means custodial staking novices can embark on their crypto journey while retaining complete control of their assets.
Since its 2023 debut, Marinade Native has quickly gained ground, becoming one of Solana’s largest staking platforms, with a whopping 4.48 million SOL in total value locked, according to the company.
BitGo's integration marks another milestone on the path toward institutional adoption of secure, non-custodial staking solutions on the Solana network.
On another note... drumroll... the price of IOTA is looking promising, with a potential surge of up to 95% as the Rebased countdown marches on! Stay tuned for more updates on this fascinating development! 🚀🚀🚀
- BitGo's expansion of its staking program has been propelled by an integration with Marinade Native, a staking protocol on Solana.
- With this integration, BitGo clients can stake SOL tokens directly from their wallets, earning competitive rewards while maintaining custody of their assets.
- Marinade Native's unique approach to staking includes a Stake Auction Marketplace (SAM), allowing multiple validators to bid on stake delegation for better rewards.
- The Protected Staking Rewards (PSR) feature in Marinade Native safeguards users against validator underperformance, offering reimbursements for any resulting shortfall.
- To ensure the network's well-being, validators participating in Marinade are required to forfeit an onchain bond, covering potential losses.
- This collaboration between BitGo and Marinade Lab opens up easier access to Solana’s staking ecosystem for individuals and institutions, empowering more people to engage in Solana's growth.
- Marinade Native has quickly emerged as one of Solana’s largest staking platforms, with a total value locked of 4.48 million SOL, demonstrating institutional adoption of secure, non-custodial staking solutions on the Solana network.
