Digital asset exchange CoinMetro is expected to support direct QRDO staking after integration with the native layer 2 sometime around Q3 this year, the CEO has confirmed.
During his most recent live AMA on YouTube, Kevin Murcko was asked about earning passive income by staking assets on the exchange. He confirmed that staking for Qredo and other listed assets will be part of their future growth.
“Our plan is to have staking, or something similar, for every asset on the platform,” Murcko confirmed.
He noted that Qredo does have its own staking program and CoinMetro plans to integrate with the layer 2 technology sometime in Q2-Q3 to enable direct staking. As for staking other assets on CoinMetro without native capabilities, that will come from “collaborating with companies like vesper and IQ Protocol with Parsiq,” says Murcko. “I just don’t know when.”
QRDO token holders can already generate a staking yield of 10.1% APY each month simply by using the native Qredo wallet. By integrating with Qredo layer 2, however, CoinMetro will enable their customers who hold tokens on the exchange to earn the same benefits.
“Qredo does have its own staking program, so once we do get their layer 2 integrated, which will probably be Q2-Q3 next year then we can potentially have direct staking.”
Qredo is a Layer 2 network that tracks and transfers the right to ownership of digital assets. The Qredo blockchain acts as a bridge between different blockchains, allowing different crypto assets to be tracked and atomically swapped without a third party.
Kevin Murcko is the CEO of CoinMetro, a small but growing centralized digital asset exchange based out of Estonia. Their native utility token, CoinMetro Token (XCM), has seen explosive growth in 2021 after climbing nearly 900% by end of the year.
Each week, Murcko does a live AMA session on YouTube to better connect with his customers and provide more transparency into how the growing exchange operates. He also encourages viewers to ask other questions related to the digital asset space, in addition to sharing his opinions on various crypto startups.