How iTrust.finance’s dedicated staking platform is already changing the game for $NXM and $wNXM holders
Just days on from our successful iTrust.finance launch, $NXM and $wNXM holders are already enjoying simplified staking and enhanced reward accrual on our specialised staking platform.
- Have you been put off staking your $NXM because of the complicated process, or because you weren’t sure about the risks?
- Have you been frustrated that you couldn’t stake your $wNXM and claim the same rewards as $NXM holders?
- Have you wanted to bang your head against the wall after forgetting to claim shield mining rewards?(we’ve all been there!)
If any of the above applies to you, iTrust.finance was built to solve your problems — and it’s LIVE.
Put extremely simply, when staking their tokens on iTrust.finance, $NXM and $wNXM holders experience:
- A simple 3-step staking process
- A choice of 2 staking vaults, each with their own strategies, to suit the staker’s risk appetite
- The security of knowing our Smart Contracts have passed a Zokyo Audit with flying colours, and that our smart contract risk-assessment processes have been confirmed by Smarter:Contracts to be of a High Standard
- Automatic reward accrual — no more having to set yourself annoying phone reminders to claim
- Additional iTrust Governance Token ($iTG) rewards on top of existing Nexus Mutual staking and shield mining rewards!
- Easy unstaking and claiming process
The Process
Our platform architects have designed the platform from the ground up with ease of use in mind. So, the process of staking your $NXM is as simple as can be:
- Go to app.itrust.finance and connect your MetaMask wallet
- Choose the vault you wish to stake in, and the amount of $NXM or $wNXM you wish to stake:
3. Confirm the transactions in your MetaMask wallet.
That’s all there is to it! Your tokens will be successfully staked in a matter of seconds (or minutes, depending on how fast-fingered you are!)
As a receipt of your stake, you will receive the equivalent amount of Vault tokens e.g. iNXM or sNXM in your metamask walet.
How do the staking vaults work, and why are they game changers?
Until now $NXM stakers have had to select individual contracts covered by Nexus Mutual to stake against — with tokens being burned in the event that the contract was successfully claimed against.
This means:
- Stakers had to have a good understanding of the security of various smart contracts in order to stake efficiently — a barrier to entry for many.
- Spreading risk was more expensive due to increased gas costs
iTrust.finance’s staking vaults solve these problems, whilst giving you extra rewards!
Nexus Mutual Index Vault: Is an index of all the contracts available on Nexus Mutual, meaning the staker can spread their risk across all of the contracts on Nexus Mutual. This allows them to benefit from some high-risk high-reward contracts whilst also spreading their risk over the lower-risk contracts.
Nexus Strategy Vault: This vault offers a lower risk strategy, staking against 20 of the safer, in demand contracts on Nexus Mutual. These contracts have been reviewed and selected by iTrust.finance and our review processes have been independently reviewed by Smarter:Contracts, who confirmed them to be of a ‘High Standard’.
What happens once you’ve staked your $NXM or $wNXM?
Once you’ve staked your tokens on iTrust.finance, you will be sent a receipt token (iNXM or sNXM depending on which Vault you stake in). Your $NXM/$wNXM will be sent to accounts held on Trustology’s insured solution, where any wrapped tokens are unwrapped and then swept and staked on Nexus Mutual.
Tokens accrue Nexus Mutual staking rewards, and any appropriate Shield Mining rewards and are sent to the stakers iTrust account on a weekly basis along with additional $ ITG rewards!
You can also unstake, as easily as you staked, anytime via app.itrust.finance — in accordance with the Nexus Mutual staking conditions.
Easier to use + greater rewards + automatic reward claim = Your one-stop-stop $NXM/$wNXM staking solution!
Try www.app.itrust.finance today and let us know what you think of the experience via any of our channels:
Telegram: https://t.me/iTrustCommunity
Telegram Announcements: https://t.me/iTrustOfficialAnnouncements
Twitter: https://twitter.com/iTrustFinance
