Luno has introduced a new staking wallet for Cosmos (ATOM), promising an 18% APY promotional reward for early adopters until June 16, 2025. Following the promotional period, the staking reward will adjust to 11% annually, still positioning Luno as the highest licensed staking provider in South Africa.
With this addition, users can now stake six different crypto assets on the platform: Ethereum (ETH), Solana (SOL), Cardano (ADA), Polkadot (DOT), Near (NEAR), and Cosmos (ATOM). According to Christo de Wit, Luno’s Country Manager for South Africa, staking offers a safer way to earn passive income compared to lending.
“We’re aiming to stake as many cryptocurrencies as possible to provide high-yield options for our users,” de Wit said.
No Minimum Investment and Daily Payouts
Luno’s staking model is designed for accessibility and flexibility, allowing users to start staking with no minimum amount and unstake anytime. Rewards are credited within one to seven days and compound daily, maximizing potential returns.
Currently, over 150,000 users have created staking wallets, and more than R1.5 billion has been staked through the platform.
Ethereum remains the most staked asset, followed by Solana. With ATOM now offering the highest yield, it could soon attract significant interest from South African investors.
However, de Wit emphasized the inherent risks in crypto staking. “Staking rewards are added to your balance daily, which can compound returns, but the volatility of crypto could also impact the value of your investment,” he noted.
Luno’s Solana Staking in Malaysia Draws Investor Interest
Earlier this month, Luno launched its third staking option in Malaysia with Solana (SOL). Scarlett Chai, Luno’s Country Manager in Malaysia, confirmed that the new staking feature allows users to earn SOL rewards every two days, enhancing their investment portfolio passively.
This follows the launch of staking options for Ethereum and Cardano, reflecting Luno’s ongoing strategy to expand its staking offerings while maintaining transparency around potential risks and rewards.
