Elys Network
  • Introduction
    • Overview
    • How it Works
    • Key Features
  • Getting Started
    • Quick Start Guide
  • Core Features
    • Swap
    • Earn
      • Simple Staking
      • Liquidity Mining
      • Vaults
    • Leverage LP
    • Perpetuals
  • Tokenomic and Rewards system
    • Tokenomics
      • Deflationary Forces on Maximum Supply
    • ELYS: The All-In-One Token
    • EDEN & EDEN Boost
  • GOVERNANCE
    • Elys Network Governors
    • Governor Foundation Delegation Program
  • Developer Resources
    • Elys Network Validators
      • Initial System Setup
      • Installing Elys Node
        • Validator Creation
        • Launch the Node
      • Additional Considerations
      • Troubleshooting
    • Security
  • Social Links
    • Elys Network Socials
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  1. Core Features
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Simple Staking

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Last updated 13 hours ago

Overview

Simple Staking on Elys Network offers users a straightforward way to earn rewards by putting their ELYS and EDEN tokens to work.

How It Works

ELYS or EDEN Staking allows you to earn staking rewards, while EDEN Boost adds a multiplier to your staking rewards (denoted in green) .

Elys Staking

ELYS Staking currently requires a 14-day bonding period.

By staking your ELYS, you delegate your tokens to a Governor for governance purposes and earning staking rewards in both EDEN (bootstrapping rewards) and USDC (from system fee sharing).

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.

User Guide

Follow these simple steps to start staking on Elys Network:

  1. Access the Staking Interface:

    • Log in to your Elys Network account and navigate to the "Earn" section.

    • Select "Simple Staking" from the available options.

  2. Select the Amount to Stake:

    • Enter the amount of ELYS / EDEN tokens you wish to stake.

  3. 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.

  4. 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

  5. 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.

  6. 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.

Benefits for Users

  • 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 Governance: Contribute directly to the stability and integrity of Elys Network, enhancing its resilience and decentralization through decentralized governance.