The DeFi Staking feature on Crypto.com Exchange lets eligible users deploy crypto assets to participate in DeFi protocols for rewards. You can choose to lock up your tokens in the protocol vaults for a pre-determined period and receive periodic rewards proportionate to the staked virtual assets in accordance with the relevant supported blockchain protocol.

Benefits of using Crypto.com’s DeFi Staking include:

* Dependent on the generation of rewards determined and received by the blockchain protocol

Liquidity Risk and Market Volatility

If you have subscribed to a fixed staking period, you will not be able to access your staked virtual assets before the staking period ends. Users are advised to consider the staking periods carefully ahead of locking up your virtual assets as liquidity risk is involved and the value of the virtual assets may fluctuate during the period of lock-up.

Technical Risks

There are technical risks associated with participating in DeFi Staking, including error or security failures like smart contract failure, hacks, network critical delays or exploits. This may result in a loss of data or access to your staked virtual assets.

Pass-through Risks

Please note that the Crypto.com Exchange only provides a pass-through service for you to participate in DeFi Staking. We may engage third-party service providers to provide this administrative service. Please conduct your own due diligence on each of the DeFi Staking protocols, risks, mechanics, and consult your advisors before making any decision, including whether to participate in DeFi Staking and related transactions. We will only facilitate your on-chain token transfers to and from DeFi protocols upon your express instructions. We do not assume any responsibility or liability for the performance, rewards, failure, reliability or consequences of any third party services and/or any of the DeFi Staking protocols.

Crypto.com currently supports the following DeFi protocols and associated virtual assets for DeFi Staking:

For the estimated rewards rates, please refer to our website for the most up-to-date information. Reward rates shown are based on the estimated reward from the DeFi protocol, excludes service fees charged by Crypto.com, and are not final. The actual reward rates may differ and are not guaranteed, and are subject to change depending on the DeFi protocol which may fluctuate. Rewards must exceed 0.00000001 of the token to be credited.

Transaction Statuses

The Staking History tab on the Staking page provides a record of all your DeFi Staking requests with their timestamps and current statuses.

DeFi Staking Transactions and Balances

After you have confirmed your DeFi Staking request, the status of your request will first be reflected as “Pending”.

Once we have received your request, we will conduct further checks on your wallet balances and positions. If you do not have sufficient funds in your Available Balances for DeFi Staking, your transaction status will be changed to “Rejected”. You may check your wallet balances and positions and initiate another Staking request should you wish to.

Once your Staking request has been accepted by Crypto.com, the status will then be updated to “Activating” and will remain as such until the virtual assets have been staked on–chain. Go to DeFi Staking Page > Staking Balance to confirm that your Staking Balance has been credited with the amount specified in your Staking request from your Available Balance.

After the virtual assets have been staked on your behalf on the relevant DeFi protocol, your Staking request will be activated and your Staking request status will change to “Staked”.

Your staked virtual assets will also reflect the status under Wallet > Balances. For example:

After the fixed staking period ends (where applicable), there will be no change or update to your Staking request status (i.e., it will remain as “Staked”). However, your virtual assets will be deposited back to your Available Balance.

Here’s what each transaction status means:

Persons from the following locations and all sanctioned nations are prohibited from participating in DeFi Staking.

Crypto.com reserves the right to revise the list above at any time. In addition, Crypto.com reserves the right to refuse, restrict or prohibit access to all or any part of DeFi Staking to any user at our sole discretion.

Rewards Rate Dependent on Blockchain Network

The rewards rates provided are based on the estimated reward from DeFi protocols excluding service fees charged by Crypto.com and are subject to change. The actual rewards will only be disbursed to you after they have been received from the blockchain protocol or harvested on-chain. The rewards which you receive will be the actual rewards rate, from which we will deduct fees for providing this service. Crypto.com does not guarantee any return or any particular rewards rate. The rewards are entirely dependent on the respective DeFi protocol. Do note that only virtual assets that are under the “Staked” status are eligible for rewards for the time period that rewards are due.

Rewards Posting and History

Under Staking History, navigate to Rewards History for a detailed log of rewards activity. This page shows the exact date and time for each instance rewards are credited, the quantity of rewards being credited, and the rewarded Coin. Only rewards greater than 0.00000001 will be distributed. The Rewarded Token column indicates the token that is being credited to your Wallet Balance.

Rewards Frequency

Rewards can be distributed up to three times a week, depending on the blockchain protocol. For the rewards crediting destination, please refer to the Which virtual assets does Crypto.com DeFi Staking currently support? section above.

What happens when I stake more of the same asset?

When you stake more of the same asset, your new stake will only begin earning rewards when the transaction status changes to “Staked” after the Activation Period has ended. Your previous stake will not be impacted. Staking requests past the Staking Period’s end date will cease to earn rewards.

Can I upgrade my existing DeFi staking request to stake to a Vault of a longer period?

No, this is currently not supported. Users either can commit to a longer staking period by using funds from your Available Balance or wait till the existing staking period ends and stake again.

DeFi staked virtual assets will not be eligible for trading or transfers on Crypto.com. In addition, the staked positions cannot be used to contribute to your margin balance and will have no collateral weight.

Service fees charged by Crypto.com are deducted from your staking rewards. The rewards distributed to you are already net of fees.

Our service fees per virtual asset available for DeFi Staking are as follows:

Crypto.com reserves the right to charge differentiated fees depending on the user, meaning that some eligible users may have access to higher rewards rates compared to other eligible users. The fees may be updated from time to time at our sole discretion.