GARI Staking is LIVE! Now Earn passive income on GARI tokens lying idle in wallet
We are constantly devising new ways to make GARI token more attractive for our ever-growing community which has been at the heart of our explosive growth since inception. In keeping with our efforts to expand the functionality of GARI, we are thrilled to introduce an all new “Staking Program”, which will provide users the opportunity to earn rewards on their GARI holdings- THE MORE YOU STAKE, THE MORE YOU EARN.
What is Staking?
Staking is the act of adding your crypto holdings into a smart contract to earn rewards in return. Reward distribution is on-chain, which means that they are automatically earned. The only thing you need to do is stake them.
Simply put, staking is very similar to fixed deposits where the bank gives interest on the amount deposited in one’s account. Staking, similarly results in users earning rewards in return.
Why should I opt for Staking?
You might be holding a good number of GARI tokens in your wallet and may not be utilizing them entirely for daily transactions. Staking allows you to earn rewards on holdings which are lying idle in your wallet.
Participants will receive a significant amount of rewards on their staking. Moreover, the interest will be auto-compounded hourly resulting in an APY of up to 10%. The longer the duration of the staking, the more rewards.
Annual percentage yield or APY is nothing but the interest rate received on staking GARI.
In short, staking will help in generating passive income for GARI holders. This means your GARI holdings earn for you while you sleep!
How do I participate in GARI Staking?
Users can participate in 2 ways
a. By in-App Staking available on Chingari app
b. On gari.network webpage where you can connect Solana based wallet and stake GARI.
Here’s a step by step guide on how you can get going on your Staking journey with Chingari.
#Step1 — Click on the wallet section tab on the homepage of Chingari app. Once done, click on the ‘Stake’ option as shown in the image
#Step 2 — Click on ‘Stake’ in the GARI Pool. Enter the number of GARIs you want to stake and click on ‘Stake Now’ as displayed in the picture.
#Step3 — On clicking ‘Stake Now’, enter your six digit PIN to confirm the staking amount.
#Step4 — On confirming the stake, the transaction will be successfully initiated. That’s all. Relax and watch your rewards grow every day.
You can check your GARI Staked and the Total Rewards Earned in the ‘Overview’ section
Unstaking
Once the minimum lock-in period is satisfied, you can choose to unstake your tokens at any time from the “Ready To Unstake” Section. Click on the ‘Unstake Now’ as shown in the image below to unstake the required amount.
Stake the maximum amount of GARIs and start earning rewards today!
b. Follow these steps for Staking through webpage
#Step1 — Click on this link — GARI Staking Page and connect your Phantom wallet. At the moment Phantom is the only available wallet for GARI Staking.
#Step2 — On connecting, your linked wallet will reflect as shown in the image below
#Step3 — Click on Stake for staking your GARI holdings and enter the number of GARI tokens as per your requirement and submit by hitting the ‘Stake’ button
#Step4 — Once Staking is successful, you can see the your GARI balance and how much have you staked as shown in the image.
After the completion of minimum lock duration, you can unstake your GARI by clicking on ‘Unstake’ tab.
For FAQS, kindly click on the below link.
Useful resources you may want to refer:
- The Gateway to earning GARI tokens
- What is GARI Network Today ?
- 5 Steps to Earn GARI Tokens Risk-Free WITHOUT Investing Your Money
- A Deep Dive into GARI and its Tokenomics
Download the Chingari app now to start earning GARI tokens
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You’ll find all the official links within this link —
