Cardano’s Staking Rewards to Increase by 30%

A pro-Cardano content creator on YouTube revealed a new feature on the blockchain that could let ADA stakers earn up to 30% more staking rewards through the protocol’s Staking Baskets.

Speaking with Cardano founder Charles Hoskinson and Tim Harrison, EVP of Community and Ecosystem at Input Output, the content creator mentioned that Cardano devs have found a way to achieve this extra reward by using the Staking Basket smart contracts.

The three Cardano figures met at the Rare Evo 2024 event in Las Vegas. During their discussion, the YouTuber explained to Hoskinson and Harrison that his dev group has built a solution into the Cardano Staking Basket smart contract where users can deposit a minimum of 10 ADA and potentially earn 15% more ADA compared to those not using the solution.

In the discussion, the Cardano dev told Hoskinson and Harrison that he and his team members had been working on the project for about a year; many of these developers he’d connected with through his YouTube channel. He mentioned working with MLabs in the past on Staking Baskets and collaborating with a few other developers within the blockchain space.

Cardano introduced Staking Baskets in 2023 as a way to further decentralization on the blockchain’s network. Atrium Lab came up with the concept, while MLabs, a well-known specialist in Haskell and Rust, developed the protocol.

Generally speaking, Staking Baskets use smart contracts and allow users to deposit their ADA and delegate to multiple Staking pools easily. The innovation also lets users create their own Staking Baskets with specific lists of staking pools.

The content creator highlighted other solutions he launched on the Cardano network, including an education dashboard with 24 motion graphic videos with text guides. According to the dev, they created the videos to help users navigate their Cardano experience.