Web3 infrastructure provider Ankr has announced the integration of Coinbase Wallet, opening up a wider range of opportunities for those interacting with liquid staking.
Through its latest update, users can now log on to some of the hottest opportunities within the Ankr Staking by using their Coinbase wallet as their entry point into the vibrant DeFi realm. Liquid staking allows users to delegate their tokens to a validator that stakes the asset on their behalf without losing access to their funds.
To get started, users need to connect Ankr Staking to the Coinbase Wallet browser extension when prompted. On smartphones, they can do so from the Coinbase Wallet app’s dApp browser.
In addition, the Coinbase integration means that users can now interact with their staked assets on both ecosystems, namely from the dashboard tab of Ankr Staking or in the DeFi tab of Coinbase Wallet.
This marks an important evolution for Ankr’s Web3 native environment, as Coinbase Wallet has a built-in dApp browser on its mobile app that makes it easy to access top dApps and DeFi protocols.
Josh Neuroth, Ankr’s Head of Product, said, “Having the ability to connect a Coinbase Wallet was one of the most hotly requested features for Ankr Staking, and that’s a testament to how many people find the wallet useful for interacting with Web3 and DeFi every day. We always want to ensure our stakers are pleased while opening our earning solutions to as many new participants as possible.”
This integration also enables users to interact with Ankr apps without first needing to withdraw cryptoassets from their Coinbase account to a self-custody wallet. Specifically, the Ankr Staking platform automatically sends the newly granted liquid staking tokens to the user’s Coinbase Wallet. These tokens deliver staking rewards as their balance increases daily.
When stakers receive liquid staking tokens in their wallets, they can also send them over to DeFi platforms to expand their earnings with liquidity mining opportunities, LPs farming rewards, staking rewards on farmed tokens, as well as automated yield farming rewards from vaults and enhanced trading opportunities to exit staking any time.
Ankr said this milestone aims to make web3 more user-friendly through providing users with more ways to interact and connect with dapps across a wide range of blockchains and networks. Ankr currently has nine different tokens available to stake on the platform. While Ankr (ANKR) and Gnosis (mGNO) tokens can be put towards delegated staking, the platform supports Ethereum (ETH), Polygon (MATIC), Binance Coin (BNB), Fantom (FTM), and Avalanche (AVAX) for liquid staking.