Bison Trails, a blockchain “infrastructure-as-a-service” company, has integrated with Coinbase Custody for institutional-grade offline storage. Coinbase Custody clients may now stake their DOT to Bison Trails’ validators. At launch, Bison Trails says it will support the Polkadot protocol with support for more protocols to follow. Polkadot is a sharded protocol that seeks to solve the scalability issue with many other blockchains. The integration with Coinbase Custody enables clients to delegate DOT tokens to Bison Trails validators, helping secure the Polkadot protocol and earn participatory rewards.
Polkadot recently announced that in light of the Coronavirus pandemic, they will be re-evaluating the timing of any sale, which in turn might affect the timing of DOT token transferability.
Joe Lalloz, CEO of Bison Trails, said that for people who custody with Coinbase Custody, this is a game changer:
“DOT holders now have the unique ability to utilize both our leading blockchain infrastructure and the leading custodian of crypto assets to ensure tokens are secure and that they are earning participatory rewards.”
Sam McIngvale, CEO of Coinbase Custody, said that staking is an increasingly important element of the crypto ecosystem:
“It provides Coinbase Custody clients, many of whom have obligations to their investors, with a crypto-native way to participate in network rewards while also contributing to the security and governance of the ecosystem. Working with partners like Bison Trails allows us to offer our clients an easy way to participate in Proof of Stake networks like Polkadot (DOT) at launch. We look forward to offering more crypto-native features for our clients in the future.”