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Benzinga
Benzinga
Business
Shivani Kumaresan

DraftKings Partners With Zero Hash To Earn Staking Rewards On Polygon

DraftKings Polygon DKNG DraftKings Inc MATIC (Organization)
  • DraftKings Inc (NASDAQ:DKNG) said it has partnered with business-to-business embedded infrastructure platform, Zero Hash, to earn staking rewards on the Polygon (MATIC) blockchain network.
  • The collaboration aims to optimize DraftKings' working capital and liquidity.
  • PoS refers to proof of stake, a blockchain consensus mechanism for verifying and adding transactions on a blockchain.
  • Zero Hash abstracts away the complexity of interacting with PoS networks, and staking services are offered across several blockchain networks and support B2B2C and B2B use cases. 
  • "Participating in validation supports DraftKings' broader strategy of building out a robust, sustainable, trustworthy, and decentralized infrastructure to help futureproof aspects of our business in the Web3 era," said Paul Liberman, Co-Founder and President of Global Product and Technology at DraftKings.
  • Price Action: DKNG shares are trading lower by 9.88% at $18.65 on the last check Monday.
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