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Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Read more
Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Read more
Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Warning: The value of your virtual currencies can rise or fall sharply, and your initial investment may be lost completely; virtual currencies are not covered by the guarantee funds that cover bank deposits; there is no legal mechanism on the virtual currencies market to prevent market manipulation or insider dealing; virtual currencies depend entirely on a specific computer technology and infrastructure, which in certain cases may be very recent and not yet adequately tested; if one loses the identification code or password giving access to the virtual wallet in which the virtual currency is stored, the currency held therein will be irretrievably lost; virtual currencies are currently accepted as a means of payment to a limited extent, and in most countries there is no legal obligation to accept them; for more information about the risks associated with an investment in virtual currencies, we advise you to read the Wikifin page What is a cryptocurrency? | Wikifin.
Required Legal Notice: Virtual currencies, real risks. The only guarantee in crypto is risk. Warning: The value of your virtual currencies can rise or fall sharply, and your initial investment may be lost completely; virtual currencies are not covered by the guarantee funds that cover bank deposits; there is no legal mechanism on the virtual currencies market to prevent market manipulation or insider dealing; virtual currencies depend entirely on a specific computer technology and infrastructure, which in certain cases may be very recent and not yet adequately tested; if one loses the identification code or password giving access to the virtual wallet in which the virtual currency is stored, the currency held therein will be irretrievably lost; virtual currencies are currently accepted as a means of payment to a limited extent, and in most countries there is no legal obligation to accept them; for more information about the risks associated with an investment in virtual currencies, we advise you to read the Wikifin page What is a cryptocurrency? | Wikifin.
Algorand (ALGO) Staking and Rewards Update
Last updated: March 31, 2025
Starting December 31, 2024, there will be changes to Algorand (ALGO) staking on Kraken.
The Algorand network is transitioning from its governance rewards program to a new consensus rewards program in 2025. As a result, ALGO governance rewards will no longer be paid out, and ALGO staking on Kraken will be winding down.
Here’s What’s Changing
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End of ALGO Staking: On December 31, 2024, all staked ALGO on Kraken will be unstaked, and your assets will automatically return to your spot balance.
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Final Rewards Payout: Governance rewards earned through the shutdown date will be distributed to your account by January 07, 2025.
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New Consensus Rewards Program: Kraken will not support the new Algorand Consensus Rewards program initially, but we are actively reviewing it for potential future support.
What You Need to Know
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Your assets remain safe: All staked ALGO will return to your spot balance on December 31, 2024, with no action required.
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Rewards payout timing: Final governance rewards will be distributed no later than January 07, 2025.
No action is required on your part. Your ALGO will remain safe in your Kraken account, and you will have full access to your assets once they are unstaked.