Stake $VLX to maximize your profit opportunities
Learn how you can start staking $VLX through Velas blockchain capacities to get more profits from your $VLX.
What is staking?
Staking provides $VLX holders with the opportunity to allocate their digital assets to support blockchain transactions. By staking tokens, holders earn rewards without selling them, akin to putting money in a savings account in traditional finance. Unlike traditional lending, staking tokens with Velas allows for maximum return on investment (ROI) and offers convenient control over your tokens.
Staking requires fewer resources. Unlike crypto mining, staking won't keep you up all night worrying about your energy bills.
Flexibility. You have full control over your tokens, giving you the flexibility to start or stop staking whenever you want.
More energy-efficient. Staking, in comparison to mining, has a significantly lower energy footprint, contributing to a more environmentally friendly approach.
Stake $VLX with Velas Wallet
Begin staking your $VLX by using a genuine Velas Wallet.
Velas Wallet is a secure, easy-to-use and completely free application to manage your cryptocurrency.
Watch video and get started
Velas Wallet's user-friendly staking feature provides a secure space for all $VLX token holders. Simply create your Velas Wallet account, deposit $VLX, and allocate your chosen amount for staking. Optimize your ROI and enjoy monthly staking rewards seamlessly.
Q&A on Staking in Velas Wallet
How can I delegate/undelegate and claim rewards in Velas Wallet?
Explore the guide for detailed insights into the staking and rewards process in Velas Wallet.
What percentage of rewards can I earn through staking?
The current APR ranges from 9.7 to 11%. Find more details in this concise article.
How do I choose a validator?
While there's no ideal formula, consider these hints:
- A lower % of commissions increases the chance of higher rewards.
- Validators with larger stakes are more likely to be chosen and receive rewards.
When will I receive staking rewards?
Rewards are distributed at the end of each epoch. Check the Native explorer for epoch progress and remaining time.
What is the significance of 'Validators commissions'?
Validators can set a commission fee, a proportional cut for operating the node infrastructure.
A 100% commission means 0% of earnings on staked VLX, while 0% commission means 100% of earnings.
How long is the 'Cool-down period'?
The cool-down period, the time for your stake to become liquid after stopping staking, is approximately 2 days. Refer to this article for detailed explanations.
What is the minimum token requirement for staking VLX?
Stake VLX with a minimum of 2 VLX in your balance.
How long is the 'Warm-up period'?
The warm-up period, the time until your stake starts earning rewards, is about 2 days. Check this article for detailed information on cooldown and warm-up.
Become a validator
In the staking feature, validators have the potential to maximize their rewards. Through the DPoS (Delegated Proof-of-Stake) model, delegators can 'vote' for prospective validators by staking tokens, thereby increasing the likelihood of these validators being selected. To create a pool, the process involves installing a node (accessible from the Staking Page in a wallet) and subsequently staking on the created pool. Notably, the total stake amount of a candidate on their own pool must meet or exceed the candidate's minimum stake (1M VLX). Once a new active pool is established, the candidate becomes eligible to be chosen as a validator at the beginning of the next staking epoch, to start recieiving rewards.
Helpful tutorials
$VLX staking & farming on DEXs
Explore various products and projects by Velas offering convenient $VLX staking opportunities. Conduct thorough research and exercise caution when engaging with the following projects, as they come with inherent risks."
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Q&A about Staking on DEXs
Why is it crucial to conduct your own research?
Delve into thorough research when considering an exchange. Explore user feedback, the exchange's reputation, and how it handles past security issues. Dig deep to uncover potential negative stories associated with the exchange.
How does staking operate?
Staking involves locking up your assets to contribute to and secure the network's blockchain. In return for participation and asset locking, validators receive staking rewards in the respective cryptocurrency.
How can one avoid falling victim to scammers?
Exercise caution when choosing digital currency exchanges and engaging in cryptocurrency investments. Be aware of potential scams and frauds. Ensure the exchange has a physical address available; if not, it's advisable to steer clear.
Can Velas assist in resolving exchange issues?
The Velas team and company are not responsible for issues on third-party exchanges and wallets. Users should reach out to the support center and team of the specific exchange or wallet where problems arise.
What are the different types of exchanges?
Centralized Exchanges (CEXs) operate on a large scale with a business model similar to traditional asset exchanges. Decentralized Exchanges (DEXs) are peer-to-peer marketplaces facilitating direct transactions between crypto traders. Popular DEXs like Uniswap and Sushiwap run on the Ethereum blockchain.
How can you safeguard your account?
Implement various security measures to protect your crypto:
- Properly back up your seed words.
- Activate Two-Factor Authentication for your exchange.
- Use a robust password for crypto protection.
- Employ a different password for your wallet.
- Avoid entering your seed words on any website.
Need Help?
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