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How to Stake LYO Credit?

How to Stake LYO Credit?

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.

What is Staking?

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.

Here's how you can start staking with LYO Credit:

1. Sign up on LYOTRADE​
2. Verify your KYC
3. Click "Staking"
4. Choose LYO Credit (LYO)
Go here to start staking with LYO! ​