He exchange of Bitfinex today launched the Rewards Program Staking, designed to make users earn cryptocurrencies by holding funds on one of the world's most popular trading platforms.
By blocking funds on the exchange, Bitfinex users can earn 10% per year by depositing and holding tokens.
This requires keeping funds in a centralized exchange, but according to the exchange's press release, the custody service is highly secure and ready for any contingency.
“We are committed to engaging our existing users and the community at large with new products and innovations. The Bitfinex Betting Rewards Program offers our users another way to increase their participation in our platform ”, explained Paolo Ardoino, CTO of Bitfinex and Tether.
In addition, to celebrate the launch of this Staking Rewards Program initiative, Bitfinex has launched a contest to win a t-shirt with the logo of the exchange.
Other recent Bitfinex initiatives
The team also recently released Shimmer, a tool of patented surveillance to combat market abuse and promote legitimate trade.
Shimmer, in fact, is designed as an application that alerts Bitfinex about events that are considered potentially inappropriate with respect to the commercial activities on the platform on all pairs, including futures and margin trading.
Also, a few weeks ago, Bitfinex signed an agreement with the Crypto Hedge Fund Fulgur Alpha to increase the liquidity of institutional investors using the trading platform. Meanwhile, Tether USDT, the Bitfinex stablecoin, which is pegged to the U.S. dollar, has also made it to the Bitcoin Cash blockchain thanks to SLP tokens.
Despite the problems generated by the pandemic Coronavirus, the exchange team continues to work smoothly through the smart work.