Simple Staking
Last updated
Last updated
Simple Staking on Elys Network offers users a straightforward way to earn rewards by putting their ELYS / USDC token at work.
ELYS or USDC Staking works differently but both allow you to earn numerous rewards.
ELYS Staking currently requires a 14-day bonding period.
By staking your ELYS, you contribute to the overall security of the platform while delegating your tokens to a Governor.
Staking is one of the most rewarding features for our users.
Every Elys Network feature collects fees, which are then redistributed to stakers and liquidity providers.
USDC Staking does not require any bonding period.
By staking USDC, you actively participate in the Leverage LP feature. Staking USDC essentially acts as a form of lending:
You lend your USDC to the platform.
Users of Leverage LP borrow these funds, and in return, they pay fees that are transformed into rewards for you.
You are free to enter and exit USDC staking at any time.
Follow these simple steps to start staking on Elys Network:
Access the Staking Interface:
Log in to your Elys Network account and navigate to the "Earn" section.
Select "Simple Staking" from the available options.
Select the Amount to Stake:
Enter the amount of ELYS / USDC tokens you wish to stake.
Confirm Staking:
Review your staking details, including the potential reward rate and lock-up period (if applicable).
Confirm the transaction to initiate staking. Your tokens will be securely locked into the staking pool.
Earn Rewards:
Your staked tokens will automatically start earning rewards based on the network's activity and fee distribution.
Rewards are calculated in real-time and can be claimed whenever you want
Claiming Rewards:
Visit the "Simple Staking" section periodically to claim accumulated rewards or simply use "Claim Rewards" on the Dashboard
Rewards can either be compounded (staked back into the pool) or withdrawn to your wallet, depending on your strategy.
Unstake (if applicable):
If you wish to unstake, go to the "Unstake" option in the staking interface.
Follow the steps to confirm and complete the unstaking process. Be aware of any lock-up period that may apply before your tokens are released.
Passive Rewards: Earn rewards without needing to engage in active trading or pool management.
Growth Potential: Staking rewards increase with the network’s transaction volume and platform growth.
Support Network Security: Contribute directly to the stability and integrity of Elys Network, enhancing its resilience and decentralization.
