Bitrue Delegates 1 Million ADA Tokens for Staking to Support Cardano’s Decentralization

The popular cryptocurrency exchange Bitrue has delegated one million ADA tokens to a public stakepool. The company has done so on the 1LOVE stakepool to contribute to the blockchain project’s development and further enhance decentralization.

Bitrue Delegates 1M ADA Tokens For Staking

Launched in July 2018, Bitrue advertises itself as “the most secure and advanced online platform for buying, selling, transferring, and storing digital currencies.” According to a press release shared with CryptoPotato, the platform has decided to delegate one million ADA to the stakepool operated by 1LOVE.

Thus, the firm has become “the first exchange in the world to support the stakepool program at the community level.” The 1LOVE stakepool has been a long-time proponent of Cardano and its native cryptocurrency as it was one of the first pools to list the coin.

Furthermore, the stakepool volunteers as a Cardano Community Ambassador to help people to learn more about ADA and Cardano.

“Bitrue is a huge proponent of the ADA ecosystem, we listed the coin on our exchange very shortly after the launch after receiving huge amounts of community requests, and we have since ensured that it’s always included in our features, from investment to loans.

We are really excited to be taking this further step of contributing to the community and helping the coin reach its ideal of widespread decentralization.” – commented the exchange’s CMO – Adam O’Neill.

More to Come?

The statement further explained that Bitrue could mimic this pilot program in case the results are promising. Should the community respond in a positive manner, the exchange said it would “delegate more coins in the future.”

Bitrue’s users who want to contribute to the decentralization of ADA can also stake their coins through the exchange’s investment product called Power Piggy. By using it, they can earn up to 5.3% APR on their investment.

Publication date: 
06/09/2021 - 16:17
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