Luno Malaysia today introduced a new feature on their platform to allow users to generate additional cryptocurrency rewards, namely through the "Stake" feature. For this introduction, the "Ethereum Staking" feature has been activated, and Luno also stated that the same feature for the Cardano cryptocurrency will be introduced in a few weeks.
For information, the Stake function is one of the methods to generate rewards from crypto by helping to validate cryptocurrency transactions. You can stake your cryptocurrency on a project that uses a Proof-of-Stake consensus mechanism to process transactions like Ethereum.
The Proof-of-Stake consensus mechanism requires participants to stake their cryptocurrency on the network to help ensure the security of the cryptocurrency network. In order for transactions to be verified and to receive rewards, you need to deposit a certain amount of cryptocurrency before you can participate in this function.
On the Luno platform, users can deposit as little as 0.00001 ETH or RM1, and receive rewards of up to 4% per year (depending on various network conditions). Rewards will be given on a weekly basis to the user's account.
For those of you who are interested, you can check this Stake feature on the Luno application today.