In today’s post, we chose to take some time to explain what staking is, how it works, and, more importantly, how to do it on the KICK.IO platform.
Staking in Crypto is the process of locking up an amount of a certain cryptocurrency for a period of time in exchange for a reward, most commonly in the form of additional coins/tokens. It can be compared to depositing money in a savings account in the bank, where investors lock an amount for a period in exchange for a percentage in interest.
Staking can become an excellent way of generating passive income with the crypto you own, as there are numerous available staking options, and some offer high-interest rates! But how does it work?
In Proof-of-Stake (PoS) systems, new blocks are generated through staking, and every time a new block is generated, new coins are minted and distributed to the contributors, the more assets you pledge to the staking mechanism, the bigger your reward.
There are of course, benefits and risks associated with staking, and we will take a look at them below:
Benefits:
- It can be an easy way to earn interest on your current cryptocurrency holdings and creating passive income.
- There is no need for any specific equipment, and it is environmentally friendly — as opposed to mining.
- It helps to maintain the efficiency and security of the Blockchain.
Risks:
- The high volatility in Crypto means the price of your staked asset may drop while it is locked, resulting in losses.
- There may be a minimum amount of time of lock-up period during which you cannot withdraw your assets.
- The process of unstaking assets may take several days
Some key terms in Crypto Staking:
Annual percentage yield (APY): it is the projected rate of annual return after taking compounding interest into account.
Annual percentage rate (APR): it represents the annual rate charged for staking assets.
Even though these two terms may seem similar, they have an important difference. While APY takes into account compounding, but APR does not.
Staking in KICK.IO
On our newly launched platform, there are currently three staking options to choose from:
A 6-Month lock-up, 24% APR option,
A 3-Month lock-up, 18% APR option,
A no lock-up 14% APR option.
Each of the three staking pools will have a 365-day duration and have a pool cap of 11 000 000 $KICK, 22 000 000 $KICK, and 33 000 000 $KICK, respectively.
All three pools have a payout period of 7 days, after which users receive the corresponding staking reward.
To access any KICK.IO staking pools, simply deposit your $KICK into your automatically generated address within the platform, click “Stake” on the desired pool, and type the amount of $KICK you wish to pledge. There is a minimum deposit of 100 $KICK and a maximum of 1 000 000 $KICK for all of the available staking pool options.
The pools are rapidly reaching their cap. Step into our platform and secure your spot to earn rewards!
About KICK.IO
Founded by a team of DeFi and traditional finance professionals,KICK.IO is the first Initial Decentralized Offering (IDO) launchpad and project accelerator to take full advantage of the Cardano (ADA) ecosystem. $KICK supports projects launched on the Cardano blockchain and offers full support for Cardano native tokens.
We focus heavily on the decentralization ethos that is so tightly upheld by the majority of the cryptocurrency community, ensuring that the funds raised on our platform are directly sent to the project founders and that the tokens generated are distributed to holders in the same fashion.
KICK.IO ensures you have access to the best projects with the best timing, allowing for higher potential returns.
To learn more about KICK.IO visit our Website and be sure to follow us on Twitter, Telegram, Announcement channel, and Medium. The project is currently in the private sale stage, and inquiries can be sent here.
