“Staking Baskets” will allow Cardano (Ada) staking to large numbers of pools

Last updated May 28, 2023

Cardano blockchain ecosystem is going to achieve a new level of milestone in terms of decentralization as well as a new feature for the ADA coin holders to get more passive income with staking.

Cardano is a popular Proof-of-stake (PoS) scalable blockchain network. Ada is the native token of the Cardano network. In the present time, ADA is the 7th biggest crypto asset in the crypto sector by market cap. Early Ethereum (ETH)) contributor Charles Hoskinson launched Cardano in 2017.

On 27 May 2023, Atrium Lab announced on Twitter that “Staking Baskets” is going to enter Cardano’s blockchain ecosystem. This will allow ADA coin stakers to stake ADA on 50 numbers of staking pools simultaneously.

In short, if any ADA coin staker will stake his ADA on any staking pool then with the help of this new feature he will be able to achieve diversification, so he will be able to generate a net high amount of new ADA coin reward via staking.

Staking Baskets are a new innovation coming to #Cardano this year.
You can easily delegate your $ADA to 50 stakepools at the same time.
For decentralising Cardano, the contract will distribute $Atrium & $ADA. Staking Basket fees are distributed back to $Atrium holders.
— Atrium Lab (@atrium_lab) May 26, 2023

This new development work is going to provide a better level of a use case for which the Atrium token also. Here Atrium will be accompanied by a liquidity pool (LP) and a DEX to allow users to seamlessly swap both ADA tokens and ATRIUM rewards without leaving a single interface.

Earlier this, Cardano founder Hoskinson officially announced a new proposal to bring a new KYC restriction for all the Ada stakers, following the United States Securities and Exchange Commission’s (SEC) $30 Million charges against the Kraken crypto exchange over crypto staking services.

For this proposal, Hoskinson faced huge criticism but he claimed that such a feature will give a better environment for the Cardano blockchain to survive under highly strict rules & regulations.