Staking is not difficult to grasp and has too many beneficial aspects to stray away from not laying your hands on it.
Why? Because more or less crypto staking is similar to depositing cash in a savings account. You are earning interest on your money while they are in the bank as a reward for leaving the bank to operate with them. Hence, staking is similar to earning interest.
The key takeaway to remember is that staking is an easy way of earning rewards for holding your Lenda tokens. It enables you to monetize your crypto holdings that would otherwise lie idle in you crypto wallet. Well, we are here to tell you a little bit about how and why it works the way it does and how and why your staking rewards with Lenda make a whole lot of sense across the crypto universe.
What are the advantages for you of staking Lenda?First and foremost – you’ll make your Lenda assets work for you by generating rewards. The potential for high returns is better than most of the interest you may gain on the financial market. By staking your Lenda tokens, you participate in our crypto savings program and may earn rewards of up to 90% APY. This means that if you stake 1000 LENDA and the APY index is 90%, then at the end of the year you will be rewarded with 900 extra LENDA, which you can choose to add to the stake or harvest into your wallet.
And here comes the next beneficial characteristics of staking Lenda. You don’t need any equipment for staking and you are literally playing a key role into the project you believe in. Your staked tokens act as a guarantee of the legitimacy of any new transaction added to the blockchain. Staking Lenda contributes to the security and efficiency of the blockchain and by staking some of your funds, you make the blockchain more resistant to attacks and strengthen its ability to process transactions.
How does Lenda staking mechanics work?We know well that value appreciation is achieved through utility. Therefore Lenda introduces a modular staking mechanism which involves breaking the system into pieces so that the potential benefits of the token's multiple use cases are not correlated. Modular in functionality, your Lenda tokens will give this way the opportunity to price those functions independently.
Lenda’s staking comes with a 14-days cooldown period from the date of the request before a withdrawal can be made. This means that in case you want to withdraw your staked Lenda tokens, you can’t do this immediately. This feature however does not limit your actions but increases the security of your investments without jeopardizing the flexibility.
The modular staking mechanics allows various staking rewards to be deployed as separate contracts. Each one of them would request a 14-days cooldown period to check the staking status and can be updated or utilized at any time without a potential threat to the rest of your funds. Such design, in essence, optimize your opportunity for gaining more ground with rewards and diversify as per your preferences without compromising security.
How to stake Lenda?By staking your Lenda tokens, you participate in our crypto savings program and earn rewards of up to 90% APY. Our team consider participation in staking itself an act of governance, signifying acceptance of the program, thus we are not imposing any additional conditions you need to comply with.
What you simply need to do is go to the Lenda homepage, ensure your wallet is properly connected and click on the “Stake” button. This opens the Lenda Token Staking webpage where you can stake your tokens and receive your rewards.
There you can opt whether to add part or all of your Lenda currency to the stake, select the desired amount and confirm the transaction.
Once you have your LENDA staked, there are a number of options for you to work with it.
You can “unstake” and remove your Lenda tokens from your stake and return them to your Wallet. The 14-day cooldown period that is activated upon withdrawal will not affect in any way the currently accumulated reward but will just seize the option of adding new rewards to it.
Once your reward is with you, you can opt to stake it again or harvest it.
If you select to stake it, that will add the Lenda amount you have accumulated as a reward to the overall stake.
The “harvest” option, on the other hand, will add the accumulated Lenda to your wallet.
It is important to note here that each of those two options apply for the full amount of the accumulated reward, meaning you can’t split between the two at this stage. However, you can immediately stake any chosen amount from your reward after it has been harvested.
You will have to wait 14 days before you get your staked Lenda back into your wallet. During that period, you will not receive any rewards for the requested amount. Please note, that if the 14-day period is not over and you unstake a new amount, this cancels the previous request and restarts the 14-day cooldown period. Harvesting or staking rewards however have NO cooldown period and can be performed immediately.
Once the unstake request has been submitted, you will see the release date in the same tab, which also shows the total amount of Lenda currently under cooldown. Once the period is up, the “Release” button will withdraw the Lenda into your wallet.