Giottus users can now stake Ethereum (ETH) to earn an estimated annual percentage yield (APY) of 7%. Giottus is the first Indian exchange to launch ETH staking post its Merge.
Giottus launched its staking product earlier this month with support for Cardano (ADA), Polygon (MATIC), Solana (SOL), and Tron (TRX) blockchains.
Giottus has boarded Lido, a leader in ETH staking, as its staking partner. Lido is a liquid staking solution for ETH backed by industry-leading staking providers.
Users can soon trade stETH in Giottus marketplace once it launches the stETH/ETH pair. For the time being, monthly rewards from staking will be paid out as stETH (Lido Staked ETH).
Users can stake a minimum of 0.1 ETH up to 30 ETH. They will also earn mining rewards, transaction fees, and maximal extractable value (MEV) earnings on their staked ETH.
These rewards will automatically be re-staked and accrue to their wallet.
Staking cryptocurrency is a means of using crypto assets to support and confirm transactions on a Proof-of-Stake (PoS) blockchain network.
Staking compliments Giottus’ suite of smart investment products, including FD, Baskets, and SIPs.
Investors are requested to contact Giottus’ 24×7 customer service team for further clarification.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.