Oslo 20 October 2022 - Norwegian Block Exchange AS ("NBX" or "the Company"), the
first publicly listed cryptocurrencies exchange in the Nordics, has today
launched the possibility of staking of Cardano (ADA), the eighth-largest
protocol by market capitalization. Customers can conveniently and securely stake
Cardano through NBX's platform or app to generate staking rewards.

Cardano, which is a third-generation blockchain platform launched in 2017, was
the first blockchain platform to implement evidence-based scientific
peer-reviewed processes prior to the release of any new product, service, or
update on its platform. It pioneers innovative technologies with a mission to
provide security and sustainability to decentralized applications, systems, and
societies globally.

By providing the possibility for passive income through staking, Norwegian Block
Exchange is expanding its product specter and delivering on the promise of
bridging the gap to traditional finance. Customers are now able to stake Cardano
from their existing wallets and earn staking rewards. NBX's staking service is
fully integrated with its existing platform and infrastructure, and no funds are
sent to, or handled by third parties. This ensures the same renowned
institutional-grade security on the staking as the existing custody services.

The staking provided falls under the category of "Protocol staking". Protocol
staking is true to the original definition of staking, and is the core concept
of "Proof of Stake". Protocol staking is a way to earn passive income by
checking the validity of transactions and maintaining the sustainability of a
Proof of Stake network. The added benefit of Proof of Stake is that it does not
require extensive hardware and processing power, and it reduces energy usage by
99.95% compared to the more known Proof of Work (Mining).

There will be no lockup period, and customers are free to unstake and withdraw
funds at their own convenience. NBX staking follows the Cardano protocol. This
is a 4 epoch process, starting the following epoch after the customer register
for staking. In the first epoch after staking, a snapshot is taken of the stake
amount. In the second epoch, the staked ADA helps to secure the blockchain. In
the third epoch, rewards are calculated. Finally, at the start of the fourth
epoch, rewards are distributed. Following the protocol, rewards can take up to
20 days for the initial stake. After that, rewards will be paid every 5 days.

The average return of the staking pool of NBX in the last two years has
surpassed 4%. The annual rewards will vary depending on many variables such as
how much ADA is delegated to the staking pool. Over time, rewards are expected
to be around 4% annually.

"We are very satisfied with finally being able to expand our product specter,
and integrate Cardano staking as an option for passive income. With Cardano
staking, our customers can access an additional income stream that enables them
to structure their digital asset portfolios in more diversified ways" says Stig
Aleksander Kjos-Mathisen, CEO of Norwegian Block Exchange

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Contact person:
Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47
93287572

About NBX
Based in Oslo and registered with the Financial Supervisory Authority of Norway,
NBX is a publicly listed Norwegian cryptocurrency exchange and custodian. NBX is
the first crypto exchange in the Nordics granted an e-money license.

In 2022 alone, the exchange had a user base growth of 60%, totaling more than
80,000 users at the end of H1.

The exchange offers instant and localized payment methods such as card and
Vipps, in addition to a more professional trading experience and insured
custody. NBX aims to launch the first Visa credit card with a cryptocurrency
kickback in late 2022. The card solution will be the first of its kind and
decrease the gap between traditional finance and cryptocurrencies.

NBX offers global customers easy and secure access to cryptocurrencies, based on
the advanced standards of its reference market: the Nordics. To learn more,
please visit www.nbx.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange