Staking your Tokens [Updated with new pool]
You’ve managed to get your hands on some OXB, great! now what? Time to put your tokens to work by staking them.
What is Staking?
Similar to mining, staking helps the network with achieving consensus. Staking is done when you “lock” a certain amount of coins in your wallet to participate in maintaining the operations of a Proof-of-Stake (PoS)-based blockchain system. Most importantly, staking rewards users who participate.
Why should I stake?
Apart from supporting the security and operations of Oxbull.Tech blockchain, the current Annualized Projected Yield (APY) of Staking OXB for OXB rewards are 250%.
Apart from that, staking also enables you to be qualified for Oxbull.Tech’s new project offerings via Initial DEX Offerings(IDOs).
Sounds Good! How do I start staking?
Step 1: Head over to Oxbull’s Farm
Step 2: Connect your wallet via Metamask or WalletConnect:
Step 3: Once on the landing page, you’ll have access to Options to stake OXB and choose your rewards of either receiving OXB or receiving SCB. Select the one you’re interested in and input the amount of OXB to Stake:
Step 4: Approve the transaction via your connected wallet (the current step is generally quick but might take up to a few minutes depending on the validation speed)
Step 5: Viola! you’re staking!
Important Notes to be aware of:
· There is a 2% Fee to start staking, and a 2% Fee to Withdraw.
· Harvesting functions have currently been deployed. 10% of rewards goes back to the farm when harvesting.
· Stuck somewhere? Don’t fret, reach out to the Oxbull.Tech Telegram