Bitrue to Join Cardano Authentication Process with Its $1.5 Million Stake 

Bitrue, the multi-functional cryptocurrency ecosystem centered on XRP, has recently made an announcement regarding its decision to join the Cardano authentication process. It has become the first-ever cryptocurrency exchange that has joined the Cardano staking ecosystem with over one million tokens.

1 Million Cardano Tokens Entrusted by Bitrue to 1LOVE Staking Pool

In accordance with a press release shared recently, Bitrue has entrusted 1,000,000 Cardano tokens to the 1LOVE public stake pool. 

Also, it has been revealed that the representatives of the 1LOVE pool team include the long-term promoters of Cardano, and the members of 1LOVE volunteer as the diplomat of the Cardano community to promote the blockchain and its token.

The Chief Marketing Officer of Bitrue, Adam O’Neill, stressed the commitment of his exchange to the development of the token and said:

“Bitrue is a huge proponent of the ADA ecosystem, we listed the coin on our exchange very shortly after we launched after receiving huge amounts of community requests, and we have since ensured that it’s always included in our new features, from investments to loans. We are really excited to be taking this further step of contributing to the community and helping the coin reach its ideal of widespread decentralization.” 

The Move Is Considered of Supreme Significance to the DPoS Blockchain

The owner and operator of the 1LOVE stake pool, GlitTch_  states that the decision of Bitrue to enter the Cardano authentication process is a significant move and said:

“It’s an honor to work with Bitrue and the Cardano Foundation to be selected for this pilot program in an effort to bring an alternative solution for exchange staking to be a viable part in Cardano’s decentralization through community pools. Bitrue’s choice to be a leader and select community pools have great potential to help strengthen the network and provide stable growth to community operations for the future.”

In addition to this, it should be known that the crypto exchange offers a competitive yearly yield of 5.3% on all Cardano deposits.