Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce that its On-Chain Earn platform has recently added support for Polkadot (DOT) staking.
This new addition allows users to stake DOT directly on-chain through Bybit and earn stable returns while helping to secure the Polkadot network.
Understanding Polkadot and DOT
Polkadot, launched in 2020 by Ethereum co-founder Dr. Gavin Wood, is a multi-chain network designed to connect different blockchains. It enables the transfer of various types of data and assets between chains, improving interoperability and scalability. The network uses a shared security model where the main relay chain secures all connected parachains. DOT, Polkadot’s native token, is used for governance, staking, and bonding.
How Bybit On-Chain Earn Works for DOT Staking
Bybit On-Chain Earn simplifies the staking process by managing the technical requirements on behalf of users. Participants can earn bonus annual percentage rates (APR) by maintaining a staking period of at least 24 hours. Earnings are distributed to users’ Funding Accounts daily at a fixed time. Once a redemption request is made, interest will no longer accrue.
To participate, users must complete Identity Verification Level 1 and comply with Bybit’s Terms of Service.
For more information, visit Bybit On-Chain Earn.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.