What does Staking mean?…
Staking is a process that involves buying and setting aside a certain amount of tokens to become an active validating node for the network. By simply holding these coins(XPRT), the buyer becomes an important piece in the network’s security infrastructure and is compensated accordingly
How Staking works in Persistence Ecosystem?
There are numerous benefits for all hodlers of XPRT and it secures the Persistence Network so on both ends there is gain
Benefits of being an XPRT hodler…
Stake your XPRT: Persistence web wallet has a staking section to enable hodlers of XPRT to stake at an APR (Annual Per Return) of 35%. This is a great innovation that can improve hodling, knowing that to unbound staked XPRT takes up to 21 days. So hodlers can get their XPRT in three weeks when they want to unstake.
This is a Staking guide: https://medium.com/persistence-blog/persistence-xprt-staking-guide-4504cf9a19df
Note: While choosing a validator for staking, a trusted validator should be selected, for example: Cosmostation
Provide liquidity with XPRT: Hodlers of XPRT can go to https://app.osmosis.zone to provide liquidity for two pairs(XPRT/ATOM & XPRT/OSMO) in their pool section. 14days is the maximum in which they can pool out their liquidity. Providers of Liquidity can also decide to unbound their token in a day, 7days, and 14 days though the higher the unbounding period the higher the rewards and vice versa.
Why should one Stake XPRT?
XPRT holders can get an APR of 35% per year from their hodlings. One can easily maximize XPRT token pieces instead of just keeping them in their wallet and if the price of XPRT reduces a little, it can be gotten back from the Staking rewards.
Staking XPRT also secures the Persistence Network and stakers are rewarded for that. As a supporter of Persistence, it's ideal to stake XPRT in the Persistence web wallet.
With a lot of current ongoings in Persistence, it is gradually unlocking the true potentials of DeFi.
More exciting updates coming…