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Reading: VanEck Launches Staking Features for VSOL, Enabling Passive Income for European Residents
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COINTURK NEWS > Solana (SOL) > VanEck Launches Staking Features for VSOL, Enabling Passive Income for European Residents
Solana (SOL)

VanEck Launches Staking Features for VSOL, Enabling Passive Income for European Residents

In Brief

  • VanEck enables passive income through staking for European investors with VSOL.

  • The company distributes 75% of staking rewards to investors equally.

  • Staking rewards reflect daily net asset value automatically.

Fatih Uçar
Fatih Uçar 7 months ago
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VanEck has introduced staking capabilities for its Solana $172-based exchange-traded note (ETN) product, VSOL. This initiative allows investors residing in Europe to earn passive income through staking rewards.

Contents
Staking Rewards Distributed EquallyTechnical Details of the Staking Model

Staking Rewards Distributed Equally

VanEck announced that it will distribute 75% of the staking rewards to investors. The company will retain the remaining 25% as a fee. Regardless of how long investors hold their VSOL, they will receive staking rewards at the same rate.

Investors will receive staking rewards without making any transactions, and rewards will be distributed equally among investors.

Technical Details of the Staking Model

VanEck stated that VSOL staking transactions will be conducted entirely through a custodian, ensuring full control of the staked assets remains with the custodian. This approach mitigates any lending risk.

Regulations prevent asset managers from directly holding customer funds; thus, staking transactions are carried out through custodians.

The staking rewards will automatically reflect in the daily net asset value (NAV) of the investments. VanEck collaborates with third-party staking providers to ensure security and transparency.

VSOL began trading on the Deutsche Börse in the European market in 2021. As of October 2024, assets under management stand at $73.8 million.

VanEck’s staking service demonstrates its commitment to regulatory compliance while providing European investors the opportunity to earn passive income through the Solana ETN. Investors can receive their rewards without additional transactions during the staking process.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 22 October, 2024 - 9:38 am 22 October, 2024 - 9:38 am
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