VanEck Announced it’s Solana ETN Enabled Staking Function with Auto Daily Reflection
$VSOL investors will benefit from daily re-invested staking rewards, as the implementation of staking rewards investors for holding cryptocurrencies by contributing to the network's security.
VanEck, a leading global investment manager, has announced activating staking functionality for its Solana Exchange Traded Product (ETP), $VSOL.
Notably, the development marks a significant milestone for investors seeking to enhance their returns on their Solana holdings through the ETP, which currently boasts an impressive $73 million in Assets Under Management (AUM).
Furthermore, $VSOL investors will benefit from daily re-invested staking rewards, as the implementation of staking rewards investors for holding cryptocurrencies by contributing to the network’s security.
However, the innovative approach ensures that investors reap the full benefits of holding Solana through the ETP, without needing additional action.
VanEck Staking Function Ensures Investors’ Security
VanEck’s commitment to a fully non-custodial staking methodology underscores its focus on investor security and transparency.
Additionally, the Custodian maintains complete control over the staked assets, investors are assured that no lending risk is involved. This commitment ensures investors’ funds remain safe and secure throughout the staking process.
The distribution of staking rewards is seamless and equitable. Whether an investor acquired the $VSOL ETP last year or last week, they will receive an equal share of the rewards accumulated over that period. This ensures a fair and consistent distribution of benefits for all investors, regardless of their investment timeframe.
Furthermore, VanEck has implemented a transparent fee structure for staking rewards. The staking process allocates 75% of the total reward to investors, while the remaining 25% covers operational expenses. This fee arrangement offers a transparent and lucid delineation of reward distribution, fostering openness and responsibility.
This innovative approach to staking rewards underscores VanEck’s commitment to providing investors with access to cutting-edge investment solutions in the rapidly evolving cryptocurrency landscape. The seamless integration of staking into the $VSOL ETP offers a unique opportunity for investors to maximize their returns and stay ahead of the curve in the evolving crypto market.
Solana Network’s Delegated Proof-of-Stake Mechanism
The Solana network stands as a testament to the intricate dance between technology and community, leveraging a unique approach to consensus known as Delegated Proof-of-Stake (DPoS).
At the heart of this network lies a diverse community of validators, each operating specialized computers that diligently uphold the integrity and functionality of the blockchain. These validators play a crucial role in ensuring the smooth and secure operation of the Solana ecosystem, acting as the guardians of its decentralized nature.
Their responsibilities are multifaceted: they process and execute new transactions, meticulously verify their legitimacy, and collaboratively vote on the validity of newly proposed blocks. These blocks, akin to chapters in a continuously growing ledger, contain a record of all approved transactions, forming the very foundation of the Solana blockchain.
