Huobi Pool (NASDAQ:POOL), the world’s largest staking mining pool under Huobi Group, today announced the launch of Terra LUNA staking, offering investors a seamless way to vote for notes and earn rewards on the platform. Users will benefit from up to 3.8% annualized returns, by staking a minimum of 0.1 LUNA tokens.
As the cryptocurrency space continues to evolve, traders often seek ways to increase their returns on their investments through staking. However, staking on a public chain can be difficult to navigate, as investors are often required to have large token balances before they can participate in Proof of Stake (PoS) for many chains. Furthermore, verifying the content of each block is a rigorous, multi-step process.
With the launch of the LUNA staking channel on Huobi Pool, token holders can participate and take advantage of node benefits, such as receiving profits from block generation.
"We have always been committed to strengthening our POS business and the growth of our community. As one of the world's top node service providers, we are now offering node service to more than 50 projects and providing a gateway into the staking process for our users to gain rewards. We look forward to engaging with the LUNA community and welcoming more quality projects in the near future," said Jeff Mei, Director of Global Strategy at Huobi Group.
In addition to LUNA, Huobi Pool has three new digital assets on its staking channel: XPRT, SOLANA and CSPR. LUNA is a governance and staking token that fuels the whole Terra network. It supports Terra’s stablecoin (UST) and payment processing systems. Since the start of the year, LUNA has enjoyed exponential growth which saw its price increase by an incredible 2000%. Luna is on the verge of breaking into crypto’s Top 10 by market capitalization and has attracted wide adoption from investors, due to its unique tokenomics and growing ecosystem.
Huobi Pool’s latest staking campaign for Terra Luna is active from Saturday, 13th November 2021. Users can participate in the event and share a 20,000 prize pool through staking a minimum of 40 LUNA tokens. The rewards for staking are dynamic and the APR will vary according to the rules set by Terra. Users who stake the most will win an extra 1,000 USDT or equivalent value of LUNA in prizes.
Huobi Pool shares the same settlement system with Huobi Global exchange, which is fast and secure. For some assets such as LTC and ETH mining, users can get Huobi Pool Token (HPT) as rewards, while for BTC, BCH or BSV mining, users will be able to obtain three assets, HTP, ELA and VCASH, as rewards.
Users can also join the Fee Discount Carnival (NYSE:CUK) to enjoy a VIP fee rate through mainstream currency mining. The fee rate discount varies from 2% to 8% based on the computing power. Users can also invite friends to contribute computing power and obtain rebates. The greater the computing power successfully connected to the platform, the more rebates can be obtained.
Going forward, Huobi Pool will continue to create a one-stop service from mining machines to mining pools, and to mining farms, providing users with a more convenient and efficient channel to participate in the mining ecosystem.
Information provided by FinancialNewsMedia.
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