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Cardano-Based Verlux Updates On Its New Staking Platform

DeFi

cryptoknowmics.com 21 February 2022 18:32, UTC
  
Reading time: ~2 m

Cardano-based Verlux recently announced that its staking platform will be released in the coming weeks. However before a release, there will be a whitelisting for users who will be able to test the Verlux Staking platform so that the company gets users' feedback before going for a full-fledged launch.

Verlux (VLX) Staking Platform

While staking on Verlux, a user’s VLX tokens don't need to leave their wallet while it’s being staked. However, they cannot have less than the staked amount of VLX tokens on their wallet at any given time of the staking period. Usually, staking platforms require users to lock their assets in a smart contract while they earn rewards. This essentially means that they cannot have access to their cryptocurrencies until the end of the stipulated staking period. In the case of Verlux, users get full access and can even decide to unstake their tokens at any given time, making staking on Verlux more flexible and secure than most staking platforms.

Minimum APY of 43%

VLX staking will have at least 3 staking pools, each with different rewards, minimum contribution, and locking periods, with a maximum APY of 43%. With a total supply of 1 Billion $VLX, token holders can earn rewards from Stake To Earn VLX and Also Stake To Earn Featured NFT Drops. The token also serves as a Transaction fee on its Verlux Marketplace, Featured Listings, Creator Profile verification including as a governance system for the Verlux Ecosystem.


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