Kraken Winds Down Staking Program, Pays $30M to SEC: Verse Farms Live on DEX with ~80% APY

• has launched Verse Farms on the Verse DEX with an initial APY of ~80%.
• VERSE is’s rewards and utility token, unlocking rewards along tiers, methods of payment in the ecosystem and more.
• Kraken announced that it will pay $30 million to settle an unregistered offering of staking services case with the SEC.

Verse Farms Launch on Verse DEX is excited to announce that Verse Farms are live on the Verse DEX. Anyone can now deposit select Liquidity Pool (LP) tokens into Verse Farms to earn additional rewards on top of the trading fees already earned for providing liquidity. The first Verse Farm is for the VERSE/ETH pool with a starting APY of ~80%. More Farms will be added soon.

Utility & Benefits Of VERSE Token

“Yield farming for VERSE tokens helps grow liquidity on the Verse DEX, which improves the trading experience on this important piece of decentralized infrastructure,” said CEO Dennis Jarvis. “This is a critical early step towards providing VERSE with broad utility in the ecosystem.” VERSE, which launched in December 2022, is’s rewards and utility token. VERSE is fueling the growth and expansion of’s ecosystem, which includes over 37 million self-custody wallets created in its multi-chain DeFi-ready mobile app, the Wallet. The ecosystem also includes the award-winning News portal with over 2.5 million monthly readers. The VERSE token’s utility will include unlocking rewards along tiers, method of payment in the Bitcoin