NDAX is thrilled to announce Canada’s first flexible crypto staking program! Starting today, NDAX clients will be able to start staking their Ethereum (ETH), Polkadot (DOT), and Cardano (ADA), and automatically receive regular crypto rewards.
NDAX users staking ETH, DOT, or ADA holdings will earn competitive Annual Percentage Yields (APY), and can also choose to unstake their Polkadot and Cardano at any time.
If you are looking to earn rewards through crypto, staking on NDAX is a great way to do so! A variety of concepts in crypto can be complicated in theory, but simply put, NDAX Stake empowers users to easily earn crypto rewards by having a long-term mindset with their digital assets! And best of all, we make it easy to set up your staking plans in a matter of seconds.
For more details on NDAX Stake and applicable coins, including APYs, payout frequencies, as well as bonding and lock-up periods, see our staking table and terms you should know below.
Terms You Should Know:
- Asset: The digital asset available for staking.
- APY: The estimated amount of interest earned from staking your asset annually.
- Bonding Period: Refers to the time between when a user actively has their asset staked and starts earning rewards.
- Duration: The amount of time your assets will remain staked in the pool.
- Exchange Limit: This refers to the staking pool availability and how many more assets are still available for staking in the NDAX pool.
- Minimum amount: Minimum number of assets required to start a new staking subscription plan per coin.
- Pay-out frequency: How often staking rewards are earned.
- Redemption policy: There are two main ways to redeem rewards through staking:
“Standard Redemption” means that your opt-out is delayed for the period of time indicated in the above table, but you collect any rewards generated up to and including generated within the reward period.
“Instant Redemption” means that your opt-out is effective immediately, but you are not entitled to any rewards generated within the reward period.
Daily or Weekly: No staking rewards would generate within these periods.
Monthly: You will lose [N%] of the total rewards generated within this period.
- Unstaking period: the time between when a user chooses to unstake and when the assets are returned.
What is Staking?
Staking is the process of actively holding digital assets and participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. it allows investors to hold assets and receive crypto rewards with frequent reward payouts.
NDAX Stake allows Canadians to stake their digital assets while being able to easily manage and monitor their staking subscriptions and profits over time. With NDAX, there are no lock-up periods and our clients can exit from their staking positions anytime (with the exception of ETH*).
How to Set up Staking on NDAX
1. On the NDAX menu click on Staking on the left side panel.
2. Select an eligible coin to stake from your staking dashboard.
3. Choose a staking plan.
4. Track your staking amount, average APY%, total profits and more.
How does earning rewards with NDAX Stake work?
When you stake your digital assets with NDAX for an allotted period of time, you automatically earn crypto rewards, which can be redeemed at different periods depending on the coin and staking plan. Different coins offer different reward payout frequencies.
Staking is currently available through the NDAX web app, with mobile app integration coming soon.
Earn rewards by staking your crypto!
NDAX offers staking subscriptions for the following digital assets: Ethereum (ETH), Cardano (ADA) and Polkadot (DOT).
Please note:
- Customers can view coins available for staking and manage their subscriptions by going to the Staking section of their NDAX dashboard.
- APY% is an estimate that is adjusted daily based on the on-chain staking rewards and subject to the digital asset's specific annual percentage yield.
- The minimum lock-up period per digital asset & dedicated reward payout frequency is set by each digital asset.
- Bonding period refers to the time between when a user actively has their asset staked and starts earning rewards.
- Unstaking period refers to the time between when a user chooses to unstake and when the assets are returned back.
- *ETH and ETH staking rewards will be locked until the completion of the Ethereum 2.0 network transition. The transition may need months and may never occur, and NDAX has no control over this process.
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