Aptos (APT), the high performance Layer 1 blockchain protocol, has launched one of its most anticipated features, dubbed delegated staking. As unveiled on its Twitter account, Aptos said the delegated staking feature is user friendly and generally makes the service more accessible to users.
Introducing Aptos ‘Delegated Staking’—a new feature on Aptos that makes staking more accessible and user-friendly.— Aptos (@Aptos_Network) April 20, 2023
Users can now delegate their staking power to a trusted network validator and earn rewards as an individual—providing options outside of the previous threshold. pic.twitter.com/wF07fXlDbU
Staking is a network offering whereby users lock their tokens in a dedicated smart contract to support the activities of a proof-of-stake (PoS) protocol. For locking their tokens, investors generally get rewarded through the fees paid by users making use of the platform.
Staking has been seen as a viable investment means; however, there has been strong regulatory contentions around it since the SEC cracked down on Kraken Exchange earlier in the year.
With Aptos staking, the protocol said users can delegate their APT to a trusted network validator and earn rewards as an individual—providing options outside of the previous threshold. The protocol said its offering benefits users by enabling them to earn without having to assume the strain associated with operating nodes.
Additionally, Aptos delegated staking will encourage self-custody, increase accessibility and promote flexibility for all of the key stakeholders in its ecosystem.
Aptos is building encompassing utility
Aptos has made several moves over the past few months to establish its footing as an emerging protocol with great potential. As reported earlier by U.Today, the protocol launched its Lava Testnet last month as it seeks to give developers on its network the right tools to innovate.
Since it made its emergence, Aptos has grown much more in popularity, and the token bounced markedly after a tweet from Twitter CEO Elon Musk. Despite the growing competition in the industry as concerns the fight for relevance, Aptos also launched the NFT Wormhole Bridge to enhance innovation in its ecosystem.