- 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
Vitalik Buterin slams controversial gambling project ZKasino following scam allegations
Ethereum founder Vitalik Buterin took to Warpcaster, a new type of social network, to condemn ZKasino, a decentralized gambling platform based on Layer 2 Ethereum protocol zkSync.
Starknet jumps 2% after notice inviting specific groups to claim STRK airdrop
Starknet Foundation addressed the groups within the STRK community that were unable to receive the token’s airdrop during the first round. The Layer 2 chain organized an airdrop event in February.
XRP price capped at $0.55 despite retail holdings nearing all-time highs
Ripple price (XRP) failed to break resistance at $0.55 early Wednesday as traders continue to digest Ripple’s recent response to the Securities and Exchange Commission’s (SEC) allegations of illegally selling XRP as a security.
Binance founder Changpeng Zhao could face three-year jail time
US prosecutors are requesting Binance founder and former CEO Changpeng Zhao (CZ) to serve a three-year jail time, according to a Reuters report published Wednesday.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?