Staking economic systems is essential for the crypto-economic system and industry. It further improves the financial network of the crypto world and helps nodes and users to obtain passive incomes.
IOST is a public chain based on its original PoB consensus mechanism. Since its independence after the mainnet launch in February 2019 and to shape the IOST staking economic system according to the industry standards and above, and to continuously empower the ecological construction of the IOST network, IOST has launched and continued to optimize its partner node program and regularly reviewed and improved the staking economic system.
At present, the IOST holders have multiple options to generate passive income with their tokens. The main options to do so are:
- To stake IOST by voting for nodes;
- To participate in staking events, crypto earn, or term deposits managed by exchanges;
- To join in liquidity mining pools built by Dapps on the IOST chain.
1. Stake IOST by Voting for Nodes
Staking to earn passive income is not a new concept for crypto holders. Voting/staking is an essential mechanism for blockchain systems. We call staking’ voting.’ You vote for a node you favor and lock your IOST on them. By doing so, you support that node / the IOST ecosystem, and you’ll get rewarded with some IOST.
Every year, 105 million IOST are distributed automatically to the mainnet voters. The exact revenue is calculated based on the share of a user’s votes in the total number of votes on the entire network and is sent directly from the mainnet to the voting account.
For IOST nodes, their rewards depend on their number of votes; the more votes, the higher the rewards. Some nodes such as Huobi Wallet and Liebi distribute part of their own rewards to users, bringing more benefits to users and attracting more users to vote for them.
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2. Staking Events, Crypto Earn, or Term Deposits managed by Exchanges;
IOST is listed on all major exchanges, which work closely with the Foundation and launch various products for the IOST holders to earn passive income on their platforms. Exchanges such as Binance, OKX, and OKCoin Japan have launched numerous IOST products, including but not limited to term deposits (locked) and flexible deposits. Users can generate passive income by staking IOST for a certain period of time. The longer the stake time, the higher the reward.
2.1 OKX
2.2 Binance
2.3 OKCoin Japan
3. Liquidity Mining
In order to improve the liquidity of their mining pools, some Dapps on the IOST offer liquidity mining services to the IOST community, where you can deposit IOST and other tokens (subject to availability) to earn their platform tokens. For example, the most popular DeFi projects on IOST, Donnie Finance and Yokozuna Finance, have different pools where you can deposit IOST and other tokens to earn $DON and $ZUNA.
Notes:
- The products listed in this document are lossless single token liquidity mining pools; this means that users will be refunded the full amount of their deposited principals once the staking period is ended. If you would like to take part in DeFi as a liquidity provider, you may first get familiarized with the concept of impermanent loss.
- To participate in liquidity mining in IOST, you must first install iWallet, the IOST official Chrome extension wallet.
3.1 Yokozuna Finance
3.2 Donnie Finance
IOST will continue to optimize its Staking economic system framework, introduce more high-quality partner nodes and Dapps, and upgrade its staking program. Our goal is to create a win-win situation for the IOST public chain, nodes, and users. We will continue to work to ensure the prosperity of the IOST staking economic system. Stay tuned!
About IOST
High fees and slower transaction times on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflective of our true desire to be the best in the sphere.
Being one of the public chain leaders in terms of adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST currently has the ever-expanding 500,000 community members in over 20 countries, over 400 nodes, a top staking economy, symbiotic relationships with corporations dotted worldwide.
If you would like to hang out with the IOST community on chat, social media, or to discuss product development, we have something for everyone:
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