New Staking Assets: ADA & NEAR

Nov 23, 2023

Industry-leading cryptocurrencies, Cardano (ADA) and NEAR Protocol (NEAR), are now available on the Bake app.

These new coins bring two of the industry's top Layer 1 decentralized ecosystems into the Bake family, introducing even more options to earn rewards on your crypto.

What Does This Mean for You?

The inclusion of ADA and NEAR in Bake’s Staking service allows you to earn staking rewards while directly contributing to these networks' stability and security.

By staking ADA or NEAR, you become an integral part of these blockchains. Your participation helps in validating transactions and maintaining network health, which is essential for the overall success and advancement of these networks.

The additions also help you to easily diversify your staking options within the one app. It combines the user-friendly interface of Bake with the robust ecosystems of Cardano and NEAR Protocol.

Why Stake With ADA and NEAR?

Contribute to the Network: By staking ADA and NEAR, you are adding to the security and decentralization of these blockchains. Both Cardano and NEAR Protocol rely on staking to validate transactions and maintain network integrity. Your participation directly contributes to this.

Flexible Staking Options: You can tailor your staking strategy to match your financial goals. Whether you prefer a set-it-and-forget-it approach with Fixed-term staking or enjoy the freedom of Flexible staking, the choice is yours on Bake.

Regular Rewards: You receive rewards twice daily (every twelve hours) when staking ADA and NEAR on Bake. These rewards automatically compound if left untouched, adding to your potential earnings.

Transparency: All aspects of the staking process, from reward calculations to distribution schedules, are clear and accessible. This transparency allows you to stake with confidence, knowing exactly how your contributions are being utilized and rewarded.

User-Friendly Experience: The Bake app guides you through each step of staking, from choosing the amount to stake to understanding the expected rewards. The whole process takes just a few clicks to complete, and you can stake and unstake at any time*.

*NEAR currently requires an unstaking period of 3 days

About Cardano (ADA)

Cardano is a proof-of-stake blockchain platform known for its sustainability and scalability. It stands out due to its strong foundation in scientific research and peer-reviewed academic work.

It aims to deliver more advanced features than any protocol previously developed, being the first blockchain platform to evolve out of a scientific philosophy and a research-driven approach.

This focus on research and development positions Cardano as a front-runner in the pursuit of a more secure, transparent, and sustainable financial and social operating system.

About NEAR Protocol (NEAR)

NEAR Protocol is a decentralized application (dApp) platform designed to bridge the gap between traditional and blockchain-based applications.

It allows developers to build dApps using familiar developer tools (e.g., Javascript) that can then be deployed on the NEAR protocol and Ethereum networks. Developers can build and deploy apps for Web3 in the same way as in Web2 (and with the same functionality).

NEAR protocol is also community-run, ensuring decisions on the future of the network are made by the people who actively maintain and develop within it.

DISCLAIMER: Please note that the information on this blog and in any articles posted on this blog is for general information only and should not be relied upon as financial advice. Cake Pte. Ltd., Bake, UAB, and its affiliates (the “Cake Group”) are not licensed financial advisers. You may wish to approach your own independent financial advisor before making any decision to buy, sell or hold any product and/or digital assets mentioned in this blog.

Any views, opinions, references, assertions of fact and/or other statements are not necessarily the views held by the Cake Group. The Cake Group disclaims any liability whatsoever that may arise out of or in connection with such statements. Always do your own research before investing in any financial assets and consult a qualified financial advisor if necessary.



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