Huobi Rolls Out Solana (SOL) Staking Facility

Huobi Pool, the leading staking mining pool and a subsidiary of Huobi Group, introduced Solana (SOL) staking today to provide investors with a simple and fast method to vote for notes and collect incentives on the platform. Users may join and earn a maximum of 5% yearly returns by staking as little as 0.1 SOL. Huobi Group is a global leader in blockchain and cryptocurrency technology, with a financial instrument bouquet that includes the world’s biggest crypto currency exchange in terms of liquidity and real-time transactions.

Staking on a public chain is frequently a challenging procedure because to the greater barrier to entry. Many public chains demand investors to have high token holdings before they can partake in Proof of Stake (PoS). Verifying the data of every block is likewise a demanding multi-step procedure, requiring a sophisticated computer setup as well as a continuous internet connection.

Nevertheless, with the introduction of the SOL staking channel on Huobi Pool, a regular token holder may participate and reap node advantages such as block generation earnings.

Du Jun, Co-Founder of Huobi Group, said “By utilizing our expertise in on-chain governance and operations, Huobi Pool is pleased to offer a conduit into the staking process for our users to receive rewards. We hope that by launching this project, we will be able to encourage our users to become more involved and engaged with the SOL community. We want to increase our engagement with the community and welcome additional initiatives in the nearish term.”

The introduction of SOL staking on Huobi Pool comes at a time when the Solana ecosystem is seeing rapid development. Despite the crypto market fluctuation, SOL’s price stays high and is considered a successful project at the moment. It’s now one of the most talked-about and popular cryptocurrencies on the market.

Huobi has launched a staking program beginning September 10, 2021 at 10:00 a.m. (UTC). Respondents must stake at least 0.1 SOL, and users who hold at least 10,000 Huobi Pool Tokens (HPT) throughout the campaign season will get EOS, TRX, CMT, IOST, or other airdrop prizes on a daily basis. Users may learn more by visiting Huobi Global’s official website or downloading the Huobi App (version 6.1.2 or above). Huobi Pool, as portion of the Huobi Group ecosystem, concentrates on PoW mining and staking mining.