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Staking - Boost your Rewards

Stake your ELUM tokens to help the network and earn more rewards in the process!

What is staking?

Staking simply locks up your tokens for a set duration of time. This helps stabilize the token and the entire ecosystem that surrounds it. Staking can be extended at any time; however, the stake duration can never be lowered, and the staking contract cannot be broken. At the end of the staking contract, the tokens are made available to be transferred back to the Staker's wallet or alternatively, restaked.

Why Stake?

Staking is highly encouraged and participants who choose to show their commitment to the project by staking their tokens receive weight rating multipliers that can greatly boost their mining rewards. For example, staking at the maximum level for 360 days offers double the mining rewards vs mining without staking.

How to Stake your ELUM Tokens?

#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. 1.
    Enter the quantity of Tokens to stake
  2. 2.
    Set the Stake Duration
  3. 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.

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Staking
Staking Information
Staking - 1st transaction
Staking - 2nd transaction
Staking confirmed
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
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