Trading and investing platform eToro announces today that it has launched staking for NEAR Protocol (NEAR) and Polygon (POL), enabling users to earn rewards simply by holding these assets.

Eligible users are now able to stake NEAR Protocol (NEAR) and Polygon (POL), in addition to Solana (SOL), Ethereum (ETH), Cardano (ADA) and Tron (TRX). Staking allows investors to put their cryptoassets to work by locking them up to support a blockchain network’s operations, such as validating transactions. In return, the staker earns rewards, making it a way to grow their cryptoasset holdings while helping secure the network.

“The recent crypto market rally has boosted enthusiasm for blockchain innovation, with Bitcoin setting fresh all-time highs and many altcoins rising too. As interest in digital assets surges again, we’re committed to offering our users more ways to grow their portfolio and participate in the evolving blockchain ecosystem,” says Adi Lasker Gattegno, Director of Crypto Desk at eToro. 

“Building on the success of our ETH and SOL staking launch in July, we are excited to expand our staking programme to include NEAR and POL. Eligible  users will be able to stake these assets in a simple and secure way.”

By opening a NEAR or POL position, users are automatically opted into staking. All eligible users staking their cryptoassets will receive monthly email updates explaining how much they earned in staking rewards and how it was calculated. Users can opt out of the staking programme at any time.

Users can earn between 45% to 90% of the staking yield depending on their eToro Club tier. eToro retains a percentage of the yield as a fee to cover the various operational, technical, and legal costs involved to make the staking procedure secure and efficient. More details on intro days and reward percentages can be found here. 

To be eligible for staking rewards, users must reside in a country where staking is permitted and have held an open position of the staked cryptoasset for a set number of ‘intro days’. Positions held using CFDs, CopyTrader™, Smart Portfolios or short positions are not eligible. 

Users should note that crypto staking comes with possible risks as well as rewards. During the lockup period, assets have limited or no liquidity and their price may rise or fall. In the event that the blockchain validator violates protocol rules, the network protocol can confiscate or ‘slash’ the staked assets.