Staking - Boost your Rewards
Stake your ELUM tokens to help the network and earn more rewards in the process!
A Staking contract locks up your tokens for a set duration of time. This helps stabilize the token ecosystem and offers more network participation. Staking can be extended at any time however the stake duration can never be lowered and the staking contract can't be broken. Once staked, the only way to get the tokens back is to wait for the staking contract to end. At the end of the staking contract, the tokens are available to be restaked or transferred back to the Staker's wallet.
Staking is highly encouraged and participants who choose to show their commitment to the project by staking their tokens receive extra workers for doing so. For example, staking at the maximum level for 360 days offers an extra worker to mine with.
#1 - Make sure you have ELUM tokens in your wallet (you must first purchase or mine and claim ELUM tokens)
#2 - Navigate to the Staking tab in the Elumicate portal and perform the following steps:
- 1.Enter the quantity of Tokens to stake
- 2.Set the Stake Duration
- 3.Click Stake
You will need to confirm 2 wallet transactions (depending on blockchain congestion, this could take 5 to 10 seconds per transaction).
- The first transaction is to allow the staking contract to gain access to the tokens you are staking.
- The second transaction finalizes the token staking transaction and will lock up your tokens for the contract period.
Staking - 1st transaction
Staking - 2nd transaction
system will confirm your entry
system will confirm the 2 transactions
Confirmation - staking is in place
Once confirmed, on the page, you can now see your staking contract is in place.
Staking contract in place