You can now trade and stake Cosmos (ATOM) and Tezos (XTZ) on Okcoin — and get some of the lowest fees around. 👀
- What? Okcoin customers are now able to trade ATOM and XTZ against USD and stake them to earn rewards.
- Who? Both assets are available to all Okcoin customers, except for residents of the EU, the UK, Singapore, and Brunei.
- When? Now! Deposits, trading, withdrawals and staking are now open for both ATOM and XTZ.
What is Cosmos (ATOM)?
Cosmos is not your usual blockchain project: It’s a network of different blockchains. These blockchains communicate via the Inter-Blockchain Communication (IBC) protocol, an interoperability protocol designed to make communication between blockchains easier.
As a third-generation blockchain platform, the aim of Cosmos is to bypass some of the issues traditional blockchains face. In particular, Cosmos aims to make the development of decentralized applications easier for developers, thanks to its modular architecture.
The primary hub for routing transactions and data between blockchains within the Cosmos network is called the Cosmos Hub. Also known as “Gaia,” the Cosmos Hub is a proof-of-stake (PoS) blockchain.
ATOM is the native crypto token of the Cosmos Hub. It is mainly used to:
- Pay transaction fees
- Secure the network by staking
- Vote on governance proposals
What is Tezos (XTZ)?
Tezos is also a third-generation blockchain project focused on smart contracts – but one of Tezos’ big differences is that it’s a “self-amending protocol”.
What does that mean? Put simply, Bitcoin and Ethereum risk a hard fork every time they introduce a significant protocol change. In the case of Tezos, developers put forward proposals that XTZ holders can then vote on. This way, Tezos’ governance model allows protocol improvements without the risk of the blockchain splitting in two camps.
XTZ is Tezos’ native cryptocurrency token. It can be used to pay for transaction and smart contract fees but its main use case is governance. Thanks to the protocol’s self-amending nature, XTZ holders can vote on consensus and on-chain governance matters. They can also stake their tokens to increase the blockchain’s security.
What’s special about staking XTZ and ATOM on Okcoin?
Okcoin Earn offers super competitive conditions for staking XTZ and ATOM:
- No fees: You’ll pay zero Earn fees – 100% of the rewards go to you.
- Fully flexible: There are no fixed terms – start and stop staking when it suits you.
- Low minimum: The staking minimum is only 0.1 ATOM or 1 XTZ.
Rewards vary daily based on each protocols’ staking rewards APY*.
How to stake XTZ and ATOM on Earn
We made it easy to start earning XTZ and ATOM staking rewards. Here’s how it works:
1. Go to the Earn page
Click on the Earn button of the header to go to the Earn page. Then click Deposit to reach the dedicated ATOM and XTZ Earn pages.
2. Choose the amount you want to stake
Choose the amount of ATOM or XTZ tokens you want to stake and click Continue. If you don’t own as much as you’d like to stake, click Buy to buy more. Click Continue to have an estimate of the rewards you could earn.
3. Confirm your deposit
You will then get a recap of the amount of ATOM or XTZ you are about to stake and an estimate of the rewards you could earn. Click Back to change your order, or Deposit to confirm it.
4. Earn rewards
When your deposit is complete, you will see the amount of ATOM or XTZ rewards you’re earning.
*Estimated APY rates are not guaranteed and may change without notice. Your assets in Earn are not covered by insurance against potential losses, nor are they subject to FDIC or SIPC protections. Okcoin does not provide investment or asset recommendations. Please consult your own investment/tax professional regarding your specific circumstances and objectives. Okcoin is not engaged in the offer, sale, or trading of securities. For more details, please refer to Okcoin’s Earn Terms of Service.