Staking is a process of locking of token for a defined set of period in exchange for the rewards. The objective is to increase the confidence on the community there by providing incentive to the existing community member to continue holding the tokens. (In other words to avoid people from dumping the tokens in exchange)
Currently there are 3 Tokens in EOS Ecosystem which provides this facility. If you dont have these token you can buy it form the https://newdex.io/. It has a very simple integration with the EOS wallet
1. Horus Pay (https://eostoolkit.io/horuspay)
Horus Pay is a decentralised Global Payroll Portal that allows companies to exchange private encrypted secured data with international payroll vendors using the Blockchain.
Horus Pay aims at saving companies money through their international payroll system buy cutting out fees of existing payroll vendors.
What is Ecash?
ECASH is the payment currency for the network. At the moment, HorusPay also allows holders of HORUS to stake their tokens and earn EOS CASH (ECASH) tokens in return.
In the Horus Pay whitepaper Ecash is referred to as Horus Dollars
“In order to access the portal, users need to stake the Horus token. Every 30 days—until Horus dollars reaches its distributed consensus of $1,200,000,000.00 (approximately 82.19 years)—the Horus token will generate another digital asset called Horus dollar at a 0.1% rate. When Horus dollars reaches its distributed consensus, the Horus token will no longer be stakeable.”
How to Stake HORUS PAY for ECASH
- Navigate to the Horus Pay tab on the left hand side of the toolkit.
- Attach Identity with Scatter (see Scatter tutorial)
- Select the quantity you would like to stake (this will be the amount of Horus Pay you wish to receive the ECASH rewards for).
- Once you have staked HorusPay tokens you will have the options to unstake and Claim or staked for ECASH (the minimum amount for staking is 10 HorusPay tokens).
Please Note: The unstaking process will take 7 days.
Note : In most of the time the Account and Receiver both are same. Memo is optional
2. Karma (https://eostoolkit.io/karma)
What is KARMA?
The definition of KARMA brings a positive entanglement of human actions based on other actions prior to earlier life. With the KARMA project, its objective is to fulfil charitable & honest actions by humanity and ensure that the people who are in need receive what they’re intended to be given or donated.
How to Stake KARMA on EOSToolkit.io
You need 2 things, KARMA tokens & EOSToolkit.io. Always check for updates for the Scatter Chrome Extension as well as the Desktop Version. But before we get into that, let me explain something briefly to you.
Power Up: This term is used to “stake” your KARMA. When the Power Up has been activated, it’s then allowing KARMA to generate and do as it’s required.
Power Down: This term is used to “un-stake” your KARMA. When Powering Down, it’s a general rule that it takes 3 days to Power Down or Un-stake. Just like EOS staked for CPU & NET, instant stake, 3 day cooldown.
What is EDNA?
EDNA is a Blockchain-Biotech organization working to insure Human DNA belongs to Humans, not governments or multi-national megacorps.
Staking of EDNA will be rewarded with the EDNA tokens. There are 3 plans available based on staking period : Weekly,Monthly,Quarterly
- Weekly = Earns at 1 x current rate
- Monthly = Earns at 1.5 x current rate
- Quarterly = Earns at 2 x current rate
there are no Minimum or Maximum Stakes and you can withdraw at any time .You will need Scatter to interact with the program contract.
Currently EDNA is providing return @ 6% per week for staking under the quarterly plan. If you are thinking whether it is ponzi scheme? Well Answer is no. They haw 100 Million EDNA token reserve as staking rewards. So this return will only be for a limited duration.
For staking token on their way stay tuned
Thank You. Enjoy staking
And please dont forget to comment and 5 star vote…