Cudos, a decentralized cloud-based data storage system, shared the details of its CUDOS token staking options.
CUDOS staking program launches with up to 30 percent APR
CUDOS is a backbone asset of Cudos decentralized cloud storage ecosystem. Listed previously on AscenDEX (formerly BitMAX), KuCoin and Gate.io exchanges, it will be available for staking.
It's finally here! The announcement you've all been waiting for! Another key milestone on our journey to becoming the world's largest distributed compute network! Find out more in our latest blog post! 🥩🥩🥩https://t.co/UWiPr6VGV3— CUDOS (@CUDOS_) July 16, 2021
According to the official announcement shared by the Cudos team on its Medium blog, the entire team was laser-focused on its staking environment release on Ethereum (ETH).
The exact date of contract deployment and activation had been announced: CUDOS holders will be able to secure the integrity of the network with their stakes starting from August 2, 2021.
The staking rewards rate is estimated to reach an impressive 30 percent in annualized yield. Staking can be activated with the Metamask wallet.
Cudos' own blockchain will be activated in Cosmos (ATOM) ecosystem
CUDOS staking will be governed in a fully decentralized manner. The whole procedure will be executed via smart contracts on Ethereum (ETH).
CUDOS token will be available even for crypto newbies: the process of locking the tokens will have smart intuitive UI. Thus, the ecosystem of validators and delegators is set to emulate the scenario of the future Cudos Network mainnet.
Also, the Cudos team shared exciting news regarding the technical progress of the project. Its own Layer 1 blockchain will go live in the Cosmos (ATOM) ecosystem, one of the most advanced smart contract environments.
By press time, the Cosmos-based blockchain for Cudos solutions is under going a closed stress-testing phase.