- WonderFi (WNDR) subsidiary Bitbuy Technologies will become the first registered Canadian crypto-trading platform to offer on-chain staking of Polkadot
- Polkadot joins Ethereum, Solana, and Polygon on the Bitbuy platform
- Bitbuy staking enables users to leverage their crypto balances to earn crypto rewards through on-chain staking
- Bitbuy uses BitGo Trust Company, Inc. to custody all staked assets at a 1:1 ratio
- WonderFi is a technology company with the mission of creating unified access to digital assets
- WonderFi Technologies Inc. (WNDR) opened trading at C$0.195
WonderFi (WNDR) subsidiary Bitbuy Technologies will become the first registered crypto-trading platform in Canada to offer on-chain staking of Polkadot.
Bitbuy staking enables users to leverage their crypto balances to earn crypto rewards through on-chain staking. Bitbuy calculates rewards earned on a weekly basis using the variable reward rate set by each individual network.
With the upcoming addition of Polkadot, Canadian investors will soon be able to stake four tokens through Bitbuy, with Ethereum, Solana, and Polygon already available on its platform.
Since its launch on November 28, 2022, approximately 26 per cent of monthly active Bitbuy users are staking their crypto. The platform reported a 38 per cent monthly increase in the total number of users staking. Currently, approximately 43 per cent of MATIC and 27 per cent of SOL client assets on the platform are being staked.
Bitbuy uses BitGo Trust Company, Inc. to custody all staked assets at a 1:1 ratio. BitGo, one of the world’s largest crypto custodians, has reported over US$64 billion in assets under custody. Figment Inc. provides Bitbuy’s clients with the ability to stake their assets with a trusted partner, boasting 200+ clients and billions of dollars of assets already staked to their validators.
“Bitbuy is one of the select registered platforms in Canada to offer staking, and as seen recently, there can be significant risks for Canadians when using non-registered platforms,” explains WonderFi President and Interim CEO Dean Skurka.
“Simply put, Bitbuy is the Canadian leader when it comes to crypto staking, and that’s a great place to be as investors are looking for new and innovative ways to generate Modern Wealth.”
WonderFi is a technology company with the mission of creating unified access to digital assets through centralized and decentralized platforms.
WonderFi Technologies Inc. (WNDR) opened trading at C$0.195.