EToro couldn’t stay away from the hype around DeFi and added support for staking Cardano (ADA) and Tron (TRX) tokens.
The eToro trading platform, with offices in Cyprus and the UK, has announced that it has become one of the first exchanges to support Cardano altcoin staking. Crypto community members welcomed the company’s decision, including Tron founder Justin Sun.
EToro’s staking service will pay payments on a monthly basis, which is becoming a trend lately due to the high gas fees on the Ethereum network, not to mention the time it takes to confirm a transaction.
EToro users in the US, UK or Europe who are ADA or TRX holders can use the betting platform service and receive a reward for it, with a portion of the profit going to the exchange’s balance as a commission.
Binance changes policy
On the same day that eToro broke into the staking world, another crypto exchange, Binance, took a step back by announcing the end of its flexible staking service on October 1. Recall that the other day, the Binance Exchange, whose website was included in the list of prohibited in Russia, for the first time introduced a new token on two platforms at once.
Binance promised to complete the payments by October 20. These divergent trends serve as a reminder that the decentralized finance industry remains an experiment where the rules of the game change almost every day.