Whether you prefer traditional staking methods, or liquid staking options, there is something for everyone. This is especially so for people who are bullish on Harmony as it helps to secure the network transactions, and earns you additional One tokens with no impermanent losses. If you have some ONE tokens in your exchange or wallet, you should consider staking them.
To receive your stOne liquid staking tokens, simply stake your One tokens and receive stOne in return, based on the prevailing exchange rates. You can also provide liquidity for the stONE-ONE LP, earning additional LP fees as well as incentives.Īnother benefit is also the ability to swap stONE for ONE using the LP to skip the undelegation waiting time, if you need funds urgently. Image Credit: Tranquil Financeįor example, you can use it as collateral to borrow money from, or simply supply it to earn about 8% APY at Tranquil Finance. This is in contrast to traditional staking, where you will have to manually collect and re-delegate rewards to compound.Īnother benefit of liquid staking that DeFi enthusiasts love is its many use cases - stONE can be also used in DeFi applications to earn additional rewards on top of staking rewards. One benefit of liquid staking tokens is the auto-compounding of staking rewards, allowing for convenient compounding of rewards. This allows users to stake their ONE tokens with validators, helping secure the network and earn staking rewards. Tranquil Finance offers stONE, a liquid staking derivative. With liquid staking, however, you can do much more with your One tokens. They will be delegated to the validator, until you decide to undelegate them.
Typically when you stake your One tokens, you will be unable to access them any further. Other factors that I also consider are their uptime, and their commissions.ĭo note that you need to delegate a minimum of 100 ONEs for staking. If you do decide to unstake, you will need to wait through seven epochs to retrieve your ONE tokens. I typically choose validators that I recognize as active and involved in the community.
The overall expected returns from staking is about 10% a year, but there are variances between validators. Next, go to the Harmony One staking website, and choose between the list of validators available. To stake your ONE tokens, you need to first create a Harmony One wallet, and transfer your ONE tokens over. Fiat on-ramp View wallet, staked and withdrawing balances Easy address switching between Harmony and Ethereum style addresses Deposit / Withdraw from staking. In this article, we explore the different ways we can earn additional rewards by staking our Harmony One tokens. Staking them helps to strengthen the network security, while earning you rewards at the same time. Do you have Harmony ONE tokens just idling in your wallet? Why not maximize your gains by staking them in the meantime?
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