Passive Income with Cobo Wallet: How to stake V SYSTEMS (VSYS)
What is V SYSTEMS (VSYS)?
V SYSTEMS is a blockchain infrastructure provider with a focus on database and cloud services. Its Chief Architect is Sunny King, creator of the first Proof-of-Stake blockchain in the world. V SYSTEMS blockchain aims to create a secure underlying infrastructure platform for blockchain database through the innovative Supernode Proof of Stake (SPoS) consensus algorithm.
V SYSTEMS main strengths includes high scalability, finality, durability and performance that is practically resistant to 51% attack. These attributes allows it to support efficient and agile development of a vast variety of applications including finance (DeFi), entertainment, social media and many more.
What are Supernodes?
Supernode minters produce blocks using both their own coins and coins leased by other users. A reward in the form of interest will be paid to the VSYS Coin owners. Supernodes are also given equal standing and mining output, which solves the threat of centralisation seen in other coins.
How to stake VSYS?
The easiest way to stake VSYS is by leasing the coins to a Supernode of your choice. One of Supernode you may consider is Cobo, the first crypto wallet company in the world to offer Staking and masternode rewards on user holdings.
If you haven’t downloaded Cobo Wallet, you can find us on all major app stores (e.g., Play Store, App Store) or download it directly from our website.
You can start earning VSYS rewards with Cobo Wallet through staking with as little as 5 VSYS, with rewards paid out daily at 08:00 (GMT+8). The rewards are proportional to how much you put in. The more you deposit, the higher your reward. Users can expect to earn a handsome interest rate of approximately 20% per year just by staking with Cobo Wallet.
How?
- Store your VSYS into Cobo Cloud Wallet.
- Tap on Finance tab and choose the amount of VSYS you want to stake.
- That’s it! There is no lock-in period, however do note that rewards for current period will be forfeited if you withdraw before the end of the staking period.
Is there any risk to stake VSYS?
There is no risk to stake VSYS. You will always keep possession of the private keys by leasing to Supernodes. In case your chosen Supernode fails to maintain constant uptime, you will only miss out a small percentage of the rewards.
What are the criteria to choose a Supernode?
A list of all the 15 active Supernodes can be found here. You might want to look at the Fees, Efficiency, Capacity and Interest Cycle when choosing a Supernode. Also, it is a good habit to research on the reputation and rules of staking of each Supernode.
Will the rewards for staking VSYS change over time?
Yes, the rewards will change according to the number of coins staked. It’s just a balance between demand and supply.
How to become a Supernode?
To become an active Node that is eligible to receive rewards, you need to receive at least 90 million of leased VSYS coins. Supernodes are very similar to the traditional Mining Pools in PoW.
How does Cobo charge?
Cobo takes 10% of the VSYS rewards. Holding your assets in Cobo Wallet will always be free.
About Cobo
Cobo is a company that is firmly committed to supporting blockchain development and making cryptocurrencies easy to own and use. We emphasize long-term security, reliability, and convenience. Our key products and services reflect that vision. Altogether, Cobo offers a secure mobile wallet (Cobo Wallet), high-end cold storage wallet for advanced users (Cobo Vault), and custodial services for institutional investors (Cobo Custody).
For more information about Cobo, visit https://cobo.com
If you enjoyed the read, please make sure to:
- Clap for the article 👏
- Share the article with your friends 😎
- Follow us 👍
