OKEx to Support Staking of Kusama's KSM Token

​OKEx, an innovative cryptocurrency exchange with advanced financial services, announced that it will add staking of KSM, the token of th scalable multi-chain network Kusama, extending users' passive income opportunities.

Founded in 2019 by Gavin Wood, the founder of Polkadot and co-founder and former CTO of Ethereum, Kusama aims to provide blockchain developers with unprecedented interoperability and scalability.

The exchange will support staking of KSM from 8:00 am UTC on Jan. 7, 2021 and provide daily rewards with an estimated annualized rate of return of 14% through its OKEx Earn.

Previously, OKEx has announced the addition of staking for Polkadot's network token DOT, which has seen a significant rise in popularity lately, as well as KSM.

Jay Hao, OKEx CEO commented:”Both Kusama and Polkadot are really clear examples of trailblazing projects looking to tackle pressing issues in the space by focusing on interoperability, scalability, and allowing developers to accelerate the go-to-market and growth of their projects. OKEx is thrilled to be able to extend our support for their development and provide our users with further opportunities for earning passive income on their favorite assets."