Solana blockchain token KIN is part of the Solana Program Library (SPL) token collection.

According to a crypto news release released by AscendEX on Monday, the trading platform has implemented support for Kin (KIN) staking, a Solana SPL currency.

It means that investors can start staking KIN tokens on September 19, 2022, at 1:00 p.m. UTC, adding to the platform’s many additional prospects.

KIN staking on AscendEX Earn

According to the publication, KIN holders can stake their tokens through AscendEX Earn, the centralized crypto trading platform’s staking feature. It will let investors to earn up to 5% APR on delegated KIN deposits.

AscendEX Earn provides customers with access to multiple Earn products, including staking and decentralized finance (DeFi) yield farming, with near-zero gas fees. The minimum delegation amount is 1,000,000 KIN.

Kin, like the rest of the platform’s goods, supports “compound mode,” which allows users to automatically compound their staking rewards while aiming for bigger profits.

Kin is now one of over 90 cryptocurrencies supported through staking on AscendEX Earn, among Bitcoin, Ethereum, and Shiba Inu. USD Coin (USDC) and Tether are two other stablecoins (USDT).

Solana-based Kin can be readily integrated into both mobile and online apps, and it has a built-in developer incentive model in which rewards are associated with higher app usage. The Kin Ecosystem debuted in 2017 and now has over 65 million wallets and over $70 million in incentives split over 80+ apps.

Kin announced an interface with the e-commerce platform Shopping.io on September 14th, allowing KIN to be used as a payment mechanism across online shopping destinations such as Amazon, Ebay, Walmart, and Home Depot.