Today, a new crypto platform, CashFi, is on the horizon. It bears incredible potential that will revolutionize all we know about staking. Like Kucoin (KCS) and Kraken, this coin boasts a unique staking solution that will enjoy mass adoption in years to come. As such, it may be essential to know a few things about it.
But before we go on, what features do Kucoin and Kraken offer that parallel what CashFI (CFI) may bring to the table?
Kucoin (KCS) – the tryna be Binance?
Kucoin is a popular Crypto exchange that allows users to liquid-stake their funds and owns the KCS coin. Termed soft staking, KuCoin introduced this method in 2019, and it enjoyed warm reception by hundreds of thousands of users who began to liquid-stake on the platform. On Kucoin, users can stake various coins such as Ethereum (ETH) 2.0, Algorand, Tezos, and Cosmos, each with different fees and reward rates.
KuCoin’s flexible or soft-staking represents a remarkable attraction as it offers no hard locking period. Instead, these soft staking programs offer redemption periods, i.e., the time between when you stop staking and regain access to the staked funds or rewards. A case in point is Polkadot (DOT), which has a 28 days redemptive period, which is more or less the widest redemptive period, whereas others are around a week or just a few days.
However, if you want to earn even higher Kucoin (KSF) rewards, you can also subscribe to their fixed-length staking programs. Regardless of how low you may want to stake, there is a minimum threshold used must hold for staking.
Kraken – versatile CEX
Founded in 2011, Kraken is a leading choice for crypto assets, noted as the best for fiat staking and crypto-assets. The US-based crypto exchange was designed to appeal to both new and experienced users while offering a wide variety of digital assets for trading. Kraken boasts an exceptional crypto-asset staking library that is also impressive and allows users to earn income from over 12 digital assets, including leading proof-of-work networks like Bitcoin.
Kraken also offers stake rewards for fiat currency like the Euro and USD and integrates off-chain staking, making for a wholesale staking experience. When you stake assets on Kraken, you receive instant rewards, and there are no lockup periods. In addition, the platform pays interest twice a week for every asset, and you can earn a yearly reward of up to 20%.
Why CashFi May Be a First Choice Platform
Though staking is a profitable niche mark in the cryptocurrency space, more streamlined, lucrative markets are opening up. Despite its ability to yield passive income for HODLers staking locks up assets and renders them unproductive as more exciting opportunities surface.
So when the liquid staking market opened up to allow cross-platform and cross-chain staking, it wasn’t surprising when it hit a market cap of $11.760 billion and over 1100% increases in 2021. Projects are popping up to create wider profit margins for stakers. But for CashFi, a super innovative twist makes it bound for mass adoption in years to come.
CashFi (CFI) is a “next-generation” and decentralized network that will leverage a unique fee-sharing approach to avail investors of diverse asset classes. The goal of this network is to consolidate the collaborative capabilities and interconnectedness of asset classes. It will create a cohesive inter-chain ecosystem that makes for speedier, cost-effective, and scalable services.
CashFi protocol will enable individuals to unlock liquidity for a higher yield by staking CFI via its inter-chain CFI NFT marketplace and a creator’s center to stimulate a smooth and cost-effective minting of NFTs on different chains. Asides from this, CashFi will supply staking infrastructure, thereby becoming a significant player in future blockchain networks’ trust and governance systems.
The platform plans to integrate POS asset currencies into the DeFi space, offering use cases like liquidity provision for DEXs and facilitating lending and borrowing. The CFI token offers exceptional functionality and use cases within the CashFI ecosystem for both cross-platform and cross-chain facilities through its product offerings and offers a CFI Stake that will enable users to engage in Ethereum (ETH) DeFi side by side with staking, thereby diversifying wealth creation and boosting your returns.
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