Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce that its On-Chain Earn platform has recently added support for Polkadot (DOT) staking.

This new addition allows users to stake DOT directly on-chain through Bybit and earn stable returns while helping to secure the Polkadot network.

Polkadot, launched in 2020 by Ethereum co-founder Dr. Gavin Wood, is a multi-chain network designed to connect different blockchains. It enables the transfer of various types of data and assets between chains, improving interoperability and scalability. The network uses a shared security model where the main relay chain secures all connected parachains. DOT, Polkadot’s native token, is used for governance, staking, and bonding.

Bybit On-Chain Earn simplifies the staking process by managing the technical requirements on behalf of users. Participants can earn bonus annual percentage rates (APR) by maintaining a staking period of at least 24 hours. Earnings are distributed to users’ Funding Accounts daily at a fixed time. Once a redemption request is made, interest will no longer accrue.

To participate, users must complete Identity Verification Level 1 and comply with Bybit’s Terms of Service. 

For more information, visit Bybit On-Chain Earn.