Bison Trails has announced the integration with Coinbase Custody to allow customers of the exchange’s institutional-level custody service to stake Polkadot‘s DOT cryptocurrency.
This will allow Bison Trails’ validators to initially stake their DOT tokens, with support for other cryptocurrencies in the future.
In fact, Bison Trails allows the participation in the staking of a wide range of blockchain networks through DPoS, so Coinbase Custody’s clients will be able to delegate the staking of their tokens to Bison Trails while maintaining full ownership and in exchange for a percentage of their revenues.
The aim is to make staking delegation as easy, fast and secure as possible and it is for this reason that Coinbase Custody has been chosen as a partner.
Moreover, there are more and more blockchains based on Proof-of-Stake, rather than Proof-of-Work, so much so that even Ethereum is trying to migrate to this solution, so this is a service that in the future could involve many cryptocurrencies, and be offered by many suppliers and the ease with which users will be able to use it will be decisive to involve as many cryptocurrency holders as possible in the staking.
Bison Trails CEO Joe Lalloz said:
“For people who custody with Coinbase Custody, and want to stake with secure and highly available Bison Trails validators, this integration is a game-changer. DOT holders now have the unique ability to utilize both our leading blockchain infrastructure and the leading custodian of crypto assets to ensure tokens are secure and that they are earning participatory rewards”.
Coinbase Custody CEO Sam McIngvale added:
“Staking is an increasingly important element of the crypto ecosystem. It provides Coinbase Custody clients, many of whom have obligations to their investors, with a crypto-native way to participate in network rewards while also contributing to the security and governance of the ecosystem. Working with partners like Bison Trails allows us to offer our clients an easy way to participate in Proof of Stake networks like Polkadot (DOT) at launch. We look forward to offering more crypto-native features for our clients in the future”.