A look at Coinbase Custody and its staking service

Coinbase Custody launched its staking service for institutional clients in late April which allowed clients to tap into rewards offered by certain types of digital assets running on proof-of-stake networks. Tezos was the first network supported and remains the only PoS coin available for staking rewards. While its staking service is still in its infancy and more networks are expected to be supported, we are going to take a look at how its staking service has fared during its first two months of existence. 

Coinbase Custody began its staking of Tezos at cycle 101, which took place in late April. A “cycle” in Tezos can be defined as a measurement of time during which the network has produced 4,096 blocks, which happens approximately every three days.