Heiko Liquid Staking Guide
Parallel liquid staking is one of the most decentralized staking protocols of any DeFi platform as it allows users to have full control over their assets and gives them great capital efficiency to earn additional returns.
Visit the Liquid Staking Interface: https://app-heiko.parallel.fi/#/staking
When the user deposits KSM to the staking pool, they will receive sKSM representing their staked asset based on the exchange rate. The staking pool compounds the reward automatically, which incentivizes the user to stake early and longer.
Purpose
After a user receives KSM, they could use sKSM in the following scenario:
- Supply sKSM to the money market to earn double interest
- Use sKSM as collateral to borrow other assets.
Staking allows Parallel users to stake assets and receive rewards according to the APY percentage at that time.
Staking and unstaking are made easy and found in our staking tab.
- Select the amount of KSM you want to stake or unstake
*Note the fees and rate, and hit the stake button.
2. Sign the transaction
*Note the new balance for your total sKSM
3. Unstaking, you will see the mint fee as well as the wait time.
As with all transactions, you will need to sign to confirm to receive the success message for staking or unstaking your KSM.
What Next?
You can use your minted sKSM as you see fit on the money market as explained in the Purpose section of this guide.
