KuCoin officially announced the debut of the Soft Staking program and opened the platform to all users in July. What unique features has KuCoin Soft Staking brought compared with the mechanisms of other staking services that exist in the open market? How can users participate in the program? In this article, we will elaborate on this in some detail for a better understanding.

What is Soft Staking?

KuCoin’s new Soft Staking program turns the idea of staking on its head. One of the defining aspects of traditional staking is the idea of the investment being locked. KuCoin’s Soft Staking allows users access to their coins at any time, creating a way to use your tokens to earn while still being able to adapt to fluctuations in the market. With no minimum staking period, users have the opportunity to receive rewards while maintaining freedom and independence. The program is currently collaborating with 12 projects that support PoS, and is now benefiting over 300k users.

How to Participate in Soft Staking

To participate, hold any of the Soft Staking tokens that are supported by KuCoin. You will receive passive profit from staking while still maintaining full control of your tokens.

If you are currently holding IOTX and have not yet deposited to KuCoin: Please access KuCoin (www.kucoin.com), enter the “Assets” page, and click the “Deposit” button. There, select IOTX to obtain the corresponding address and proceed to deposit. The Soft Staking will begin once the deposit has arrived in your account.

2. If you don’t have IOTX and want to buy it on KuCoin: Please access KuCoin (www.kucoin.com), click on the “Exchange” button at the top of the page, and find the corresponding trading pair. Open a trading order and buy a certain amount of IOTX. The Soft Staking will begin once the open order is matched.

How to Check Soft Staking Returns?

Click the Soft Staking page as shown below or direct access with this link
https://www.kucoin.com/news/en-soft-staking-cash-back-investment-program. Here, you can find the annualized rate of return for all staking tokens that are currently listed. This will update on a daily basis.

2. In “My Bonus” -“Other Rewards”, the daily distributed staking bonus is available for you to check.

About IoTeX

Founded as an open source project in 2017, IoTeX is building the Internet of Trusted Things, where all physical and virtual “things” — humans, machines, businesses, and DApps — can exchange information and value at global scale. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and data services innovations to empower intelligent IoT networks and machine economies. By serving as a decentralized trust fabric for IoT, IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.

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