How to Stake LYO Credit?
Last updated
Last updated
LYO Credit Token (LYO) staking is available on LYOTRADE. Users can lock a minimum of 50 LYO and a maximum of 100,000 LYO. Users receive rewards in the same currency they stake via their LYO Credit wallet.
Moreover, the LYO staking provides users option to lock their crypto-assets from 3 to 24 months. Participants receive rewards rates on their locked tokens depending on their chosen lock period. Users can also choose to compound their locked tokens, where rewards can reach up to 36% a year.
Staking is a crypto-earing concept. Unlike traditional banks where customer's savings gives a flat income, staking gives crypto lovers the option to lock their assets for a period of time to receive a bounty reward.
The size of a stake is directly proportional to the chances of that node being chosen to forge the next block.
If the node successfully creates a block, the validator receives a reward, similar to how a miner is rewarded in Proof-of-Work (PoW) chains.
Validators lose part of their stake if they double-sign or attempt to attack the network.
1. Sign up on LYOTRADE
2. Verify your KYC
3. Click "Staking"
4. Choose LYO Credit (LYO)
Go here to start staking with LYO!
