Staking XEP

Users of the XEP Desktop Wallet can pledge their XEP holdings to help the Electra Protocol network stay online and be robust. In return for doing so, staking rewards of 3% XEP APY are paid to validators.

Support the Network by Staking XEP Coins
What is Staking? | Staking is Important | How to Stake

There are three ways how Electra Protocol investors can earn with their holdings, independent of just selling tokens on an exchange. 1) You can use your XEP coins and stake them in return for up to 3% XEP APY. 2) You can provide WXEP tokens and join a liquidity pool on the Binance Smart Chain for a dynamic return between 5% and 25% APY. 3) You can run a XEP validator node (upcoming during 2022).

What is Staking? CONCEPT

Electra Protocol is an innovative proof-of-stake blockchain protocol. The whole network can only stay online because of people staking their holdings. This means that XEP investors can (should) stake their XEP coins in order to support the network for being online and robust.

The Key Takeaways

Staking defines how new transactions are added to the blockchain. Participants pledge their XEP coins to the Electra Protocol blockchain. From those pledging participants, the protocol chooses validators to confirm blocks of transactions. The more coins an user pledges, the more likely he is to be chosen for validation.

Every time a new block is added to the blockchain, new XEP coins are minted and distributed as staking rewards to the validator of that block. Staking is only possible using a XEP Desktop Wallet and it is not possible using a XEP Mobile Wallet.

XEP Coin - Electra Protocol blockchain - Instant Payments Blockchain Mainnet

Staking is Important POS

In a proof-of-stake blockchain network, like Electra Protocol, everyone should participate in holding the network online. This can be achieved by keeping your XEP Desktop Wallet unlocked while your computer is running at least several days a months.

Electra Protocol proof-of-stake blockchain

A Strong Network Matters

Staking is not just about earning passive income. In fact, the rewards are just a side effect for those who participate in the staking process. The main reason for a network to offer rewards is to make sure that validators help the network to stay online and robust.

An important thing to consider is also that high staking rewards create inflation, which is bad for the long-term development of the currency. As a result, the creators of Electra Protocol carefully selected 3% XEP APY as a balance for the requirements of being a solid transaction system, which can also work in the long-term.

How to Stake EARN

Users of the XEP Desktop Wallet can pledge their XEP holdings to support the Electra Protocol network. In return for doing so, staking rewards of 3% XEP APY are paid to validators. This means you are automatically earning from holding XEP.

5 Steps To Passive Income

  1. Buy at least 1 million XEP coins on exchanges.
  2. Install the XEP Desktop Wallet and create a wallet address.
  3. Transfer your XEP coins to your XEP Desktop Wallet address.
  4. In the wallet, click “Settings” > “Unlock Wallet” to start staking.
  5. Leave computer running at least 30 days to start collecting XEP.

If you start staking for the first time, it will take a couple of weeks until the network recognizes you. Please be patient. Make sure you have enough XEP in your wallet. The more, the better for the consensus mechanism. If you want to continously earn rewards, you should stake as often as you can (preferably 24/7).

Staking Rewards - Electra Protocol - XEP - How to Stake - XEP Staking - XEPs

Staking is a reward system used to keep the Electra Protocol network running. If you are seeking for a greater percentage of rewards, consider joining a liquidity pool.

Electra Protocol