- 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.
