Luno adds support for Cardano (ADA) staking

[Jan]

Luno launches Cardano staking

Luno has launched staking for the Cardano blockchain’s ADA cryptocurrency, allowing customers to get rewarded with weekly payouts for helping to verify transactions.

Cardano is Luno’s second staking option after it launched similar functionality for Ethereum in June 2023.

 

[saor]

It should be noted that your investment will only grow if the price per ADA token remains stable (or increases).

Cardano staking rewards steadily inflate the ADA token supply, which means the token’s market capitalisation must increase for people’s investments to grow.

Not sure what they mean here. Your investment surely grows regardless of the price because you're being rewarded in ADA by virtue of contributing as an active validator - your staked ADA means you get rewarded in ADA as a function of the network, not as a function of the price.

 

[UB40]

I have 220 Cardano coins on my Nano X Ledger. Bought it for R1000 about 2 months ago, worth R1558 now

 

[jammio]

Not sure what they mean here. Your investment surely grows regardless of the price because you're being rewarded in ADA by virtue of contributing as an active validator - your staked ADA means you get rewarded in ADA as a function of the network, not as a function of the price.

They mean that no one gives a **** about the coins, just at what price (in real currency) they can sell em to another sucker for.

 

[Jan]

Not sure what they mean here. Your investment surely grows regardless of the price because you're being rewarded in ADA by virtue of contributing as an active validator - your staked ADA means you get rewarded in ADA as a function of the network, not as a function of the price.

I'm trying to write for someone who doesn't care about how many ADA tokens they have, but about how many rands those ADA tokens are worth.

TBH, I did look at the paragraph for a while to figure out if there wasn't a better way to phrase it.

 

[Priapus]

Yup, we spent a bit of time on this one.