Zilliqa (ZIL) teams up with KuCoin to allow staking

Zilliqa (ZIL) is a cryptocurrency project that was closely monitored ever since its launch in January 2019. The crypto market was waiting for the project to activate staking, and allow investors to earn more on their investments.

Zilliqa ready to introduce staking — and its first major partner

Earlier this year, in April, investors learned that the project has made staking live on its testnet. At the same time, a notification was sent to the project's potential partners, revealing that the staking code and accompanying documentation became available. Anyone who wanted to team up with the project would be allowed to create a prototype service.

Now, Zilliqa announced its first staking partner — a major cryptocurrency exchange, KuCoin. The announcement came via the project's monthly newsletter that recapped May.

The team also published a Medium post, in which it further elaborated on the updates that will lead to Zilliqa staking on the project's mainnet.

They noted that the project's security was audited by Quantstamp, and that there were no major issues. Further, the report is now public, so anyone can read it for themselves.

Other than that, the team also revealed that they are in the process of onboarding more partners, with KuCoin being the first of them. Lastly, they reported that work has started on non-custodial staking contracts.

ZIL entered the top 50 largest cryptos by market cap

Zilliqa also attracted attention in the last days of May, as everyone waited for the project to enter the top 50 largest cryptocurrencies. The coin needed to reach the value of $0.01433 in order for its market cap to grow enough to breach this barrier.

These days, however, ZIL sits at 46th spot on the list of largest cryptos, with the price of $0.016935 at the time of writing.