AscendEX Review: Is It Worth It?

Staking, a cornerstone of the cryptocurrency world, has found a home within AscendEX's offerings. This practice allows users to harness the rewards of digital asset mining without the burden of costly hardware investments or maintenance concerns. It's a concept that brings passive income into play by simply holding digital assets on the exchange – a user-friendly alternative to the more intricate process of active mining.

So, what exactly does staking entail, and how is AscendEX innovatively addressing the needs of staking participants?

Staking is a process where users lock their tokens into a chosen Proof of Stake (PoS) blockchain. These tokens serve a pivotal role in the consensus mechanism, essential for upholding network security and validating new transactions on the blockchain. AscendEX presents an opportunity for users to not only diversify their income streams but also to put their idle assets to productive use within this staking framework.

The rewards for staking materialize as new coins issued by the network. These rewards correlate directly with the quantity of tokens staked – the more tokens staked, the higher the validation power and, consequently, the greater the rewards.

However, conventional staking methods come with their share of challenges. Opting for traditional staking implies a commitment to lock assets for a significant duration. This approach involves an unbinding period during which users are unable to access their assets or reap staking rewards. Two primary concerns emerge:

Illiquid Position Management: Users encounter difficulty when attempting to trade out of their asset positions, particularly when anticipating unfavorable market shifts. The inability to execute sell orders during the staking phase curtails their maneuverability.

Inflexible Asset Management: The extended unbinding period restricts users from seamlessly transferring assets between platforms, hampering efficient portfolio management.

AscendEX's response to these challenges comes in the form of "Instant Unbonding." This innovation enables users to promptly unstake their assets, granting them the freedom to trade and transfer without any delay. Augmenting this is AscendEX's maintenance of a liquidity pool of assets that users can access immediately post-unstaking. This rapid access empowers users to manage their staked assets effortlessly, even in cases where networks have prolonged unbonding periods.

However, the true essence of AscendEX's approach lies in the capacity to trade staked assets while concurrently earning rewards. Furthermore, these staked assets can serve as margin collateral, fostering marketplace efficiency. This unique feature empowers users to engage in both long and short positions, hedging their exposure while continuing to enjoy the benefits of staking rewards. This applies to assets endorsed by the platform for margin trading.