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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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