Updated: March 2021
Staking is becoming a popular way to earn passive crypto income but it’s so much more! If you are new to the topic, we encourage you to read our free staking guide to learn more about what staking is really all about. Otherwise, simply scroll down to start comparing the best staking coins together with their rewards.
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Crypto Staking Calendar
Our calendar provides a list of the most important cryptocurrency staking news, announcements and promotions.
|Dates||Recent and Upcoming Staking Announcements|
|4th March 2021||Earn an APR of up to 30% on BTC, COS, DUSK, EGLD, PHA and RIF with Binance Savings (Lending Activities). Time is ticking!|
|4th March 2021||Origin Protocol (OGN) locked staking product rolls out on Binance with an APR of up to 47.79%!|
|3rd March 2021||Earn an APR of up to 90% on BTC and 74% on USDT and BUSD stablecoins as Binance Pool launches its 32nd Phase of Dual Investment Products.|
|25th February 2021||Solana (SOL) staking is available from today on Binance with an APR of up to 43.79%!|
|24th February 2021||Earn an APR of up to 150% on BTC and 129% on USDT and BUSD stablecoins!! as Binance Pool launches its 31st Phase of Dual Investment Products.|
|24th February 2021||QNT-22D Staking launches on KuCoin's Pool-X platform with an APR of 11% (excluding POL rewards).|
|23rd February 2021||DODO and MATIC Staking roll out on Binance with an APR of up to 54.79!|
|17th February 2021||An APR of up to 101% on Bitcoin,USDT and BUSD are up for grabs on a first-come first-serve basis as Binance unveils its 30th Phase of Dual Savings Products!|
|16th February 2021||PLU 90-day locked staking debutes on KuCoin's Pool-X staking platform with an APR of 33% (excluding POL rewards).|
|15th February 2021||ICX staking rolls out on Binance with an APR of up to 21.79%!|
|12th February 2021||CoinMarketExpert welcomes MyCointainer to our list of staking providers.|
|10th February 2021||101% APR on Bitcoin! Binance Pool Launches 29th Phase of Dual Savings Products today with an APR of 101% on Bitcoin! Hurry up now since this offer is on first-come, first-served basis!|
|10th February 2021||ADA and ATOM Staking launches on Binance with opportunity to bag an annualised staking reward of up to 24.79%!|
|8th February 2021||AVAX Staking is rolled out on Binance with an APR of 32.79%.|
|22nd January 2021||KSM and DOT staking products will launch at 10:00 (UTC) on KuCoin's Pool-X platform. Both products will yield an APR of 10% (excluding POL rewards).|
|21st January 2021||OAX Staking will roll out on Binance today at 12:00 PM (UTC) with an APR of 10%.|
|20th January 2021||Get an APR of 120% on BTC!!! Binance Pool has Launched the 26th Phase of Dual Savings Products today with incredible annualised yields on BTC and stablecoins such as USDT and BUSD as well! Offer expires tomorrow and is on a first-come-first-served basis!|
|14th January 2021||NAV staking is available on Binance from today with an opportunity to earn a very decent APR of up to 8.49%.|
|13th January 2021||Earn an APR of up to 160% on BTC as Binance Pool launches its 25th Phase of Dual Savings Products today. Subscription is on a first-come, first-served basis!|
|12th January 2021||DIA-45D and DIA-90D fixed staking products are rolled out on KuCoin's Pool-X platform with an APR of up to 18% (excluding POL rewards).|
|11th January 2021||LUNA-MIR-Staking Campaign launched on Pool-X platform with multiple rewards up for grabs.|
|8th January 2021||Second Round of BEPRO-Staking launched on Pool-X with opportunity to earn an annualised staking reward (APR) of 10% (excluding POL).|
|7th January 2021||YFI Staking is rolled out on Binance Staking with an APR of up to 4.49%.|
|7th January 2021||Binance Savings rolls out new 14-day savings products for EGLD and DUSK. Crypto savers have the opportunity to earn an APR of 10% on the 14-day EGLD savings product and an APR of 12% on the DUSK 14-day product.|
|6th January 2021||140% APR on BTC available to users participating in Binance Pool's 24th Phase of Dual Savings Products!!!|
|5th January 2021||MSWAP Staking launched on Pool-X today with first movers having the opportunity to bag a whopping APR of up to 109% (excluding POL rewards)!!!|
|5th January 2021||Earn an APR of up to 64% staking 1INCH on Binance!|
|4th January 2021||GOM2-Staking is available on Pool-X from today with an APR of up to 24% (excluding POL rewards).|
|31st December 2021||DOT Staking and $10,000 Prize Pool Campaign launched on KuCoin's Pool-X platform. DOT-Staking will carry an APR of 13% (excluding POL rewards). Also, to celebrate the New Year, Pool-X will give away a reward pool of $10,000 USDT to qualified Pool-X users!!! Campaign ends on 15th January 2021.|
|31st December 2020||BRL, DUSK and EGLD have been added to the list of supported assets on Binance Savings with an APR of up to 12%.|
|30th Decdember 2020||Earn up to 29.45% staking COS and up to 7.49% staking WAVES on Binance Locked Staking products.|
|28th December 2020||An APR of up to 24.49% is up for grabs as Binance Locked Staking rolls out SUSHI Super Rewards!|
|26th December 2020||CHR-30D staking rolling out on Pool-X with opportunity to achieve an APR of up to 33% (excluding POL).|
|26th December 2020||KSM Staking Christmas Offer launching on Pool-X with a 10% APR up for grabs! To celebrate festive period, Pool-X will also give away a reward pool of $10,000 USDT to qualified Pool-X users. Activity period ends on 7th January 2021 (UTC+8).|
|25th December 2020||Third-round RioFuel (RFUEL) launching on Pool-X with a 50% APR up for grabs! Activity period ends on 24th January 2021 (UTC+8). Staking rewards will be paid out daily, beginning on 26th December 2020 (UTC+8).|
|24th December 2020||12% APR up for grabs on Binance Savings for DUSK, EGLD and RUB.|
|24th December 2020||Zil Triple Rewards launching on Pool-X today.|
|23rd December 2020||Whopping 101% APR is available on Binance Pool as the 22nd phase of Dual Savings goes live today. This is on a first-come first-serve basis!|
|22nd December 2020||KSM 7-Day Christmas Special Offer rolling out on Pool-X. Earn an APR of 15% from 22nd December 2020 to 1st January 2021 (UTC+8) staking “KSM-7D”product.|
|18th December 2020||NEO and VET Double Rewards are available on Binance Flexible Savings.|
|16th December 2020||Up to 52% APR is available on Binance Pool right now as the 21st phase of Dual Savings goes live today. This is on a first-come first-serve basis!|
|2nd December 2020||Up to 92% APR is available on Binance Pool right now as the 19th phase of Dual Savings goes live today. This is on a first-come first-serve basis!|
|1st December 2020||ETH 2.0 Staking Service with Double Rewards Activity has gone live on Binance. Users participating in ETH 2.0 staking will receive BETH* at a ratio of 1 ETH = 1 BETH. In addition, ETH 2.0 staking rewards will be distributed daily in the form of BETH.|
|1st December 2020||ETH 2.0 Staking commences on Pool-X! Users will receive ETH2 Staking rewards and POL mining rewards by holding ETH2 assets in the Main account, Trading account or Pool-X account. Also, users will be able to trade freely on KuCoin through the ETH2/ETH trading pair for liquidity!|
|28th November 2020||Third Round of KAI-60 day staking launched on Pool-X with an APR of up to 12% + NFT rewards!|
|26th November 2020||ARPA, BEL, EGLD and EUR are added to Binance Savings with attractive APRs of up to 16%.|
|25th November 2020||Up to 56% APR is up for grabs on Binance Pool as the 18th phase of Dual Savings goes live. This is on a first-come first-serve basis!|
|19th November 2020||Binance Savings adds BAKE, BEL, CVC and EGLD to the list of supported assets with opportunity to earn an APR of up to 20%.|
|19th November 2020||RioFuel (RFUEL) second round staking launches today on Pool-X with an APR of up to 50%!|
|18th November 2020||Binance Pool launches the 17th phase of Dual Savings products with APRs of up to 52% up for grabs!|
|18th November 2020||Combine.finance (COMB) staking launches on Pool-X with an APR of up to 33%!|
|11th November 2020||Binance Pool launches 16th phase of Dual Savings products with APRs of up to 48%!|
|11th November 2020||Binance Staking launches TOMO, KMD & ALGO Super Rewards with up to 24.79% APR!|
|14th November 2020||RioFuel (RFUEL) staking activity ends @ 20:00 (UTC+8) on Pool-X.|
|5th November 2020||Binance Staking launches 3rd batch of “Super Rewards” for KNC, KAVA and ONE, with an APR of up to 31.49%!|
|5th November 2020||ETC & DIA added to Binance Savings, with an APR of up to 17% and 18% respectively.|
|5th November 2020||QTUM soft staking product launches on Pool-X today @ 18:00 (UTC+8) with an APR of up to 5%.|
|4th November 2020||82% APR up for grabs as Binance Pool launches 15th phase of Dual Savings products!|
|3rd November 2020||Earn an APR of up to 132% staking Combine.finance (COMB) 30-day product on Pool-X!|
|29th October 2020||DIA savings product is rolling out on Binance today with an APR of up to 18% for the 90-day product. Shorter durations are also available.|
|29th October 2020||Binance Staking has rolled out the second batch of “Super Rewards”, today so you can stake EOS, DASH and ARPA to earn an APR of up to 25.49%.|
|28th October 2020||USDT fixed staking services will roll out on Pool-X today with APRs of 10% and 12% for the 7-day and 14-day products respectively.|
|28th October 2020||Zilliqa (ZIL) flexible staking product debuts out on Pool-X today with an estimated APR of 8% (excluding POL).|
|22nd October 2020||3-month pre-staking program for Orion Protocol (ORN) ends @ 5:00 a.m. EDT on BitMax.|
|15th October 2020||RioFuel (RFUEL) staking will be rolled out on Pool-X @ 20:00 (UTC+8), with an estimated staking APR of 50% (excluding POL mining). This activity ends on 14th November!|
|14th October 2020||Centaur（CNTR) pre-staking launched on BitMax.io with estimated APR of 60%!|
|13th October 2020||Decentr（DEC) pre-staking launched on BitMax.io with estimated APR of 30%!|
|11th October 2020||Swingby（SWINGBY) staking promo ends @ 20:00 (EDT) on BitMax.io!|
|10th October 2020||Stafi（FIS) staking launches on BitMax.io with estimated staking APR of 16.6%.|
|9th October 2020||EasyFI（EASY) pre-staking launched on BitMax.io with estimated APR of 52%!|
|9th Octboer 2020||Binance Earn launches multiple locked staking products: TRX, XTZ, ATOM, KAVA, TOMO, QTUM, LOOM, KMD, LSK, ARPA, ARK, STRAT.|
|6th October 2020||Cardano（ADA) staking added to Bitfinex platform.|
|2nd October 2020||PowerTrade (PTF) 3-month pre-staking program will launch on BitMax.io. During the first week of the program, BitMax.io users can stake PTF tokens for an estimated APR of 50%. This APR will be adjusted after the first week.|
|27th September 2020||BitMax.io unveils 100% APR Swingby（SWINGBY) staking promo @ 20:00 (EDT). Llimited period only!|
|25th September 2020||Polkadot（DOT) staking debuts on Bitmax.io with estimated staking APR of above 7%.|
|21st September 2020||KardiaChain（KAI) second round 60-day staking product will launch on Pool-X @ 20:00 (UTC+8) with an estimated staking APR of 12% (excluding POL mining rewards).|
|19th September 2020||AdEx (ADX) and pNetwork (PNT) locked staking products launch on Binance with an estimated staking APR of 46.7% and 30% respectively.|
|17th September 2020||Bitbns (BNS) anniversary staking program will launch on Pool-X @ 17:00 (UTC+8) with an estimated staking APR of 50% (excluding POL mining rewards)!|
|17th September 2020||Polkadot (DOT) staking will launch on Pool-X @ 20:00 (UTC+8) with an estimated APR of 10% (excluding POL mining rewards).|
|16th September 2020||Coti (COTI) anniversary staking program will launch on Pool-X @ 17:00 (UTC+8) with an estimated staking APR of 50% (excluding POL mining rewards)!|
|16th September 2020||CoinMarketExpert gives a warm welcome to ChangeNow which has joined our list of staking providers.|
|16th September 2020||aleph.im (ALEPH) staking will launch on Pool-X @ 20:00 (UTC+8).The estimated staking APR on ALEPH tokens is anticipated to be as high as 54.75% (excluding POL mining rewards)!|
|16th September 2020||Kusama (KSM) staking will be available on Pool-X @ 17:00 (UTC+8), with an estimated staking APR of 15% (excluding POL mining rewards).|
|15th September 2020||Terra (LUNA) staking will commence on Pool-X @ 18:00 (UTC+8), with an estimated staking APR of 30% (9% regular staking APR + 21% KuCoin Anniversary Bonus).|
|15th September 2020||FinNexus (FNX) Pre-Staking Program kicks off on BitMax.io @ 11:00 (EDT), with an estimated staking APR of 50%.|
|15th September 2020||Exclusive Offer: Open a KuCoin account to receive free coins. Further details below.|
|14th September 2020||Chromia (CHR) 21 day staking product will roll out on Pool-X @ 18:00 (UTC+8), with an estimated staking APR of 50% (30% regular staking APR + 20% KuCoin Anniversary Bonus).|
|14th September 2020||Geeq (GEEQ) Pre-Staking Program will launch on BitMax.io @ 11:00 (EDT), with an estimated staking APR of 36%.|
|11th September 2020||ROOBEE-90D staking will be rolled out on Pool-X @ 20:00 (UTC+8), with an estimated staking APR of 17% (excluding POL mining).|
|11th September 2020||BNB & BUSD DeFi Staking are rolling out on Binance @ 13:00 PM (UTC) with staking APRs of up to 60%!|
|10th September 2020||Tokoin (TOKO) staking rolling out on Pool-X @ 17:00 (UTC+8), with an estimated staking APR of 50% (excluding POL mining). Various other promos being rolled out including TOKO-21D staking later today.|
|9th September 2020||PAZZI Staking activity launching on Pool-X, with estimated APR of up to 120%. This activity will start @ 20:00 (UTC+8).|
|9th September 2020||Lukso (LYXe) launching a 50% APR staking program to celebrate KuCoin’s 3rd anniversary.|
|3rd September 2020||Pool-X upgrades the VID staking campaign APRs!.|
|4th September 2020||BEPRO Staking product to launch on Pool-X @ 20:00 (UTC+8) with an estimated APR of 10% (excluding POL).|
|31st August 2020||High Performance Blockchain (HPB) 30-day Staking to roll out on Pool-X with an estimated APR of 10% (excluding POL rewards).|
|28th August 2020||Strong demand anticipated! Pool-X launches VID (VI) Staking, with an estimated APR of up to 126.47%!|
|27th August 2020||Pool-X rolls out Polkadot (DOT) Staking and Soft Staking @ 20:00 (UTC+8).|
|27th August 2020||USDT-7D Staking available on Pool-X @ 20:00 (UTC+8).|
|26th August 2020||MANTRA DAO (OM) Pre-Staking Program has been launched on BitMax with estimated APR of 88.88%|
|25th August 2020||Cardano (ADA) Soft Staking launches on Pool-X @ 20:00 (UTC+8) with estimated staking APR of 1.5%-8%.|
|23rd August 2020||Binance users may start staking Swipe (SXP) on their flexible staking platform with an estimated APR of 6%-12%.|
|20th August 2020||Binance adds BNB DeFi Staking, with an estimated APR of up to 25%.|
|20th August 2020||Chainlink staking service launches on Pool-X @ 20:00 (UTC+8) with an estimated APR of 2.08%|
|20th August 2020||LUNA staking commences on Pool-X @ 20:00 (UTC+8).|
|20th August 2020||BitMax rolls out Serum (SRM) staking with an estimated APR of 4%.|
|19th August 2020||Binance launches DEFI staking product starting with DAI.|
|18th August 2020||Polkadot and Cosmos on-chain staking assets debut on Kraken.|
|18th August 2020||Pool-X launches community voting products with USDT-7D, LUNA and ADA.|
|18th August 2020||Binance launches NEM locked staking product with an estimated APR of up to 2.8%.|
|14th August 2020||CoinMarketExpert welcomes Guarda Wallet to our list of staking providers.|
|11th August 2020||Waves Protocol (WAVES) joins Pool-X Soft Staking platform with an expected staking APR of 4%-7%.|
|6th August 2020||Subscription for the 4th round of Chromia (CHR) 21-day staking opens @ 20:00 (UTC+8) on Pool-X.|
|6th August 2020||Paparazzi (PAZZI) 60-day and 90-day staking subscriptions close @ 23:59 (UTC+8) on Pool-X.|
|5th August 2020||xDai staking promotion on BitMax Exchange ends @ 22:00 EDT (02:00 UTC)|
|4th August 2020||Paparazzi (PAZZI) 60-day and 90-day staking subscriptions open @ 20:00 (UTC+8) on Pool-X.|
|2nd August 2020||Harmony (ONE) 30-day staking subscription closes @ 23:59 (UTC+8) on Pool-X.|
Compare Staking Coins
There are numerous staking coins and certain providers offer higher staking rewards for particular tokens. The table below helps provide a thorough comparison of the annualized staking rewards for every staking coin that is offered by the top platforms that we are tracking.
Since new cryptocurrency projects are sprouting up at light speed, we have added links to their respective websites and to their whitepapers to help facilitate your education and research. We note that it has not always been easy to identify the whitepapers for certain cryptocurrency projects. This could be due to changes in the internal link structure or the temporary removal of their whitepaper, which is not really good practice!
In addition to staking, we are tracking diverse forms of passive income generation that resemble traditional ‘savings accounts’. If this is of interest to you then check out our list of the best stablecoin savings accounts, where it is possible to achieve an APR above 15% (on crypto assets that aim to exhibit low volatility against the fiat currencies they are pegged to). We are also tracking the best bitcoin savings accounts, with yields of up to 10.20% currently attainable.
|Find the Best Staking APR|
|# of Assets:|
|Max Staking Yield:|
|Where to Stake your Coins:|
|Band Protocol (BAND)|
|Basic Attention Token (BAT)|
|Bean Cash (BITB)|
|Binance Coin (BNB)|
|Binance USD (BUSD)|
|Bitcoin Cash (BCH)|
|Bitcoin Plus (XBC)|
|Bitcoin PoS (BPS)|
|Bonded Finance (BOND)|
|Brazilian Digital Token (BRL/BRZ)|
|Celer Network (CELR)|
|Curve DAO Token (CRV)|
|Ethereum Classic (ETC)|
|Experience Points (XP)|
|Ferrum Network (FRM)|
|Firo (formerly Zcoin)(FIRO)|
|FlashX Advance (FSXA)|
|Flow Protocol (FLOW)|
|I/O Coin (IOC)|
|Kira Network (KEX)|
|KuCoin Shares (KCS)|
|Kyber Network (KNC)|
|Linear Finance (LINA)|
|LTO Network (LTO)|
|Metrix Coin (MRX)|
|Neutrino Dollar (USDN)|
|Nord Finance (NORD)|
|Origin Protocol (OGN)|
|Orion Protocol (ORN)|
|Russian Ruble (RUB)|
|Router Protocol (ROUTE)|
|Secret Network (SCRT)|
|Social Send (SEND)|
|Synthetix Network Token (SNX)|
|Terra Virtua (TVK)|
|Theta Network (THETA)|
|US Dollar (USD)|
|Validity (formerly Radium) (VAL)|
|Waves Enterprise (WEST)|
|Waves Protocol (WAVES)|
|Woo Trade (WOO)|
The data in our tables are updated daily and are for indicative purposes only. The source data from the staking provider may change without notice. Do not make any staking decisions without having checked the source data directly with the relevant staking provider first.
Buy Bitcoin: recommended exchanges and platforms
Compare the Top Staking Platforms
*Refers to Binance (flexible) staking and Pool-X (soft) staking respectively.
Featured Cryptocurrency Platforms offering Staking Coins
Staking Coins on MyCointainer
MyCointainer is a revolutionary Proof-of-Stake (PoS) staking pool which provides an extremely easy to use ecosystem that allows everyone to take advantage of rewards distributions in the decentralized economy. On top of being a staking platform, MyCointainer offers easy exchange of coins using FIAT money or Bitcoin.
Staking at MyCointainer starts immediately at the moment the user deposits the coin into MyCointainer wallet. With the investment going on automatically, future rewards are credited and added to the user’s balance.
- MyCointainer is offering a wide range of PoS cryptocurrencies (over 100) and with new assets added every week, MyCointainer covers the whole PoS staking spectrum.
- Access to shared Masternodes – Users are able to access shared masternodes staking. Each reward is also subject to compound interest, hence users have an excellent opportunity to enhance their earnings.
- MyCointainer Power – Subscription-based service for smart stakers that want to waive their fees based on a monthly subscription.
- MyCointainer is regulated by the Estonian Financial Intelligence Unit and licensed (No. FVT000255) to provide services of exchanging a virtual currency against FIAT and wallet management.
Staking Coins on ChangeNow Exchange
- NOW tokens may be staked by performing a ‘Freeze’ transaction. From the moment of the transaction confirmation, the amount of tokens that you have sent is staked and you can begin earning rewards.
- A minimum of 10 NOW tokens frozen to be eligible for the staking reward.
- Rewards are distributed on a weekly basis. The reward calculation process is automated, so just be sure that you have the desired amount of tokens staked and do not unfreeze them during the week. ChangeNow have a rewards calculator that you may find useful when calculating the expected rewards and APR. However, the table below may also be used for guidance.
ChangeNOW is a leading registration-free instant exchange that had launched its own NOW Token in May 2018. NOW allows its holders to list new assets on the ChangeNOW platform as well as receive cashback from exchanges (coming soon!) and earn up to 25% APR through its brand-new Staking Program.
One can easily get NOW tokens from IDEX and Binance DEX in order to stake it, as well as receive it through various giveaways that the platform does regularly.
|Asset||Time Staked||Avg APR||Visit|
|ChangeNow (NOW)||< 1 week||0.00%|
|1 week - 1 month||5.00%|
|1 month - 6 months||10.00%|
|6 months - 1 year||15.00%|
Staking Coins on Guarda Wallet
- Guarda does not charge any staking fees although the validator that you choose may charge a small commission.
- Minimum coin holding requirements may apply, depending on the type of coin and blockchain validator that you choose (and there are many to choose from!)
- Staking rewards are updated dynamically every 24 hours with full transparency on the Guarda platform so you receive your rewards the moment they are issued by the blockchain validator.
- There are no special conditions on the staking rewards that you receive, which means you can use them for anything you like the moment they are issued to your account. You can withdraw them immediately or use the rewards for trading. It’s totally up to you!
Guarda Wallet is a trusted staking wallet that allows you to effortlessly stake popular coins such as Tezos, NEO, Callisto, Cosmos, EOS and NEO directly with a blockchain validator.
To start staking on Guarda, simply set up an account, select the desired staking token through a designated wallet and select the desired staking validator to make your deposit with. It’s really that simple and since you’re going through a validator, the estimated annual staking yield may be relatively higher than those offered elsewhere for a particular coin.
|Ontology Gas (ONG)||2.02%|
* Avg APR stands for the estimated average annual percentage rate for staked tokens. Please note that the estimated average annualized staking rewards may change without notice. Always check with the staking provider directly.
**You can claim GAS on Guarda! GAS is a token that is distributed on the NEO network to holders of NEO tokens and is used to pay the transitions fees. The minimum unit of GAS is 0.00000001. Guarda has a number of useful guides to facilitate this process for you:
Staking Coins on Pool-X 1.2 (KuCoin)
- Soft staking is FREE. There are no direct staking charges
- Must hold a minimum number of coins to start receiving rewards
- No lockup periods so you may withdraw or sell freely at anytime
- No wait period so you start accruing rewards instantly
- Rewards are usually paid daily (i..e the next day when soft staking).
Last year, on 16th April 2020, KuCoin’s Soft Staking Program moved to its independent subsidiary Pool-X 1.2, which is a next-generation PoS mining pool that allows users to take part in staking pools and operating nodes.
Pool-X 1.2 will provide its users with additional professional staking services, including new revenue overview, statistical analysis functions and much more. If you’re not already a user, you will need to subscribe to open an account.
*APR stands for the estimated annual percentage rate or estimated annual staking reward for staked tokens. Please note that the estimated annualized staking rewards may change without notice. Always check with the staking provider directly.
** Please see our Crypto Staking Announcements.
Pool-X Soft, Fixed and Flexible Staking explained
KuCoin’s Soft Staking Program migrated to the Pool-X 1.2 platform on 16th April 2020. The list in the table above includes the flexible and fixed staking coins that are available on Pool-X. To learn more about the difference between fixed, flexible, and soft staking on Pool-X, click here.
We note that Pool-X began reporting a reference annual yield on their flexible staking coins. This is essentially the yield after converting the POL that is received from staking to the reference currency of the digital asset that is being staked. It is evident that staking on Pool-X (and receiving POL for staking) significantly raises the annualized total yield.
Frequently Asked Questions
What is Staking?
In laymen terms, staking is the process of keeping funds in a cryptocurrency wallet (or staking pool) to help the underlying proof-of-stake blockchain network operate more efficiently and securely.
But let’s briefly break this down starting from first-principle. In the English dictionary, the word “stake” is used in the context of “supporting” – think of the word “stakeholders” which makes reference to those people internally supporting a particular business (shareholders, customers, employees, etc) to grow and prosper. In the context of cryptocurrency, the term “staking” has the same meaning. Its crypto origins come from the term proof-of-stake, which is a consensus algorithm that is supported by a cluster of nodes that purchase a stake (through buying pre-mined tokens) in a particular network. The point here is that nodes play an important stakeholder role in supporting the growth and prosperity of a particular network. If you want to explore this topic further, read our comprehensive staking guide.
Why was Proof of Stake (PoS) developed?
Proof of Stake (PoS) consensus mechanism was born in 2011 as a way to use far less energy than Proof of Work (PoW) to validate transactions on the blockchain, and thus make the process significantly more sustainable.
Proof of Work vs Proof of Stake: what’s the difference?
In Proof of Work (PoW), miners with specialised hardware ASICs try to solve complex cryptographic problems in order to receive the block reward + transaction fee as an incentive for solving the puzzle.
However, solving these increasingly difficult mathematical puzzles is extremely energy-intensive.
With Proof of Stake (PoS), no mining is required to solve complex mathematical puzzles to validate transactions and therefore the process is significantly less energy-intensive. In proof-of-stake mechanisms, new blocks are created through a process known as ‘forging‘ or ‘minting‘ (not ‘mining’) through a pseudo-random selection process. Unlike proof-of-work systems whereby a miner is awarded a block reward plus the transaction fees, in a proof-of-stake system the chosen node that helps to protect and run the network is rewarded with only the transaction fees.
How does Proof of Stake (PoS) mechanism work?
Essentially, in a Proof of Stake consensus mechanism, nodes participating in the forging process of a particular blockchain network will be required to purchase pre-mined tokens (locking a certain amount of tokens) as a stake.
The nodes that are successful at validating a transaction are selected through a pseudo-random process that is based on numerous factors such as the size of the stake. The means a bigger stake has a higher probability of being selected to validate a transaction (and earning the transaction fee) although newer staking mechanisms are adding a greater weighting to other factors such as node age, wealth and specific behaviours to ensure nodes are always acting in the best interest of the network.
What are staking rewards?
Staking rewards are the tokens that are received (as an incentive) for helping to protect and support a blockchain network that is governed by a Proof-of-Stake consensus mechanism. These tokens are actually a proportion of the newly minted tokens in the network.
The value of these freshly minted tokens is essentially derived through the interplay of supply and demand of the network’s listed-token on a cryptocurrency exchange.
How does staking inflation work?
When a Proof-of-Stake network issues new tokens to compensate nodes for protecting the network, the new supply of tokens dilutes their relative ownership/participation in the network. Many refer to this as the staking inflation rate but what’s really happening here (all else equal) is dilution. Unless a node is maintaining its stake in the network, all else equal, a constant increase of new token supply will dilute a node’s stake in the network. This, in turn, lowers the probability of being selected to validate the next transaction (and therefore earn the transaction fees) and also dilutes the price of all the tokens traded on the secondary market. This is why it is important to compare the annual inflation rate together with the annual yield or APR (annual percentage rate) for staking rewards.
How do you calculate the inflation /dilution rate?
Simply divide the number of newly minted tokens (expected in a year) by the total supply of tokens at the beginning of the year.