How To Stake Astral?
A step-by-step guide to earn free $ASTRAL
What is Staking?
Staking is a process where you hold a certain cryptocurrency or token in a wallet, and use it to participate in the network or ecosystem of that cryptocurrency. By doing so, you can earn rewards in the form of more tokens or other cryptocurrency. Staking is typically done to help secure the network, as well as to earn rewards for holding the token.
What is APY?
APY stands for Annual Percentage Yield, and it represents the amount of interest or rewards you can earn on your staked tokens over the course of a year. For example, if you staked 100 tokens and earned a 10% APY, you would have 110 tokens after one year. The APY can vary depending on a number of factors, including the total amount of tokens staked and the demand for the cryptocurrency.
As of now, the current APY of the $ASTRAL Stake Pool is over 1000% APY…
Overall, staking is a way to participate in a cryptocurrency network and earn rewards, while APY represents the percentage of rewards you can earn over the course of a year. It’s important to carefully consider the risks and benefits of staking before deciding whether or not it’s the right choice for you. However, Project Astral did not limit the staking itself. Holders can stake and un-stake whenever they wish, and there are no limitations for doing so!
Why should you stake your tokens?
Staking your $ASTRAL tokens with TeamFinance is a great way to earn rewards for holding your tokens. If you’re an $ASTRAL token holder, you can participate in the Project Astral TeamFinance Stake Pool, which offers a 35% supply reward pool of the 1 Billion total supply, which is a whopping 350 million tokens that are up for grabs!
To stake your $ASTRAL tokens, you’ll need to connect your wallet to TeamFinance and visit the $ASTRAL Token Lock page. You should not lock your tokens, but instead, look for the Stake Pool section on the page. Once there, you can click on “Stake” and enter the amount of tokens you wish to stake.
You’ll need to approve the token amount to confirm it by clicking “Approve” and confirm it in your wallet. Once that is done, click on “Stake” and verify once more in the wallet! Keep in mind that the stake pool is locked for five months, but you can un-stake your tokens at any time without incurring any penalties. Once you un-stake your tokens, you will automatically receive your rewards!
Ok, what are my rewards for this?
The APY percentage you’ll earn will depend on the total number of tokens staked against the 350 million reward pool. It’s worth noting that the maximum amount of $ASTRAL tokens a user can hold in a single wallet is 10 million tokens, which is equivalent to 1% of the total supply.
When you wish to un-stake your tokens, simply click on the “Unstake” button!
Overall, staking your ASTRAL tokens with TeamFinance can be a simple and effective way to earn rewards for holding your tokens. Just be sure to carefully follow the steps for staking your tokens and remember that you can un-stake them at any time.
In case you found it difficult to stake, or you would need help, the Project Astral community will help you on Telegram!
Learn more about Astral at www.projectastral.xyz!
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