Staking provides MXC community members with the opportunity to add to the stability of the MXC token and receiving an increased amount of MXC in return. A small percentage of all network fees transacted through a Supernode is split between the Supernode Operator, Supernode Stakers and the MXC Foundation.
You already know how to buy MXC and how to Deposit the MXCs to the DataDash App. The next step is to stake the MXC to increase the network strength and activity for the ecosystem!
Here is the step-by-step on how to stake MXC:
- Go to Wallet tab and choose MXC
- Click the Stake button and choose New Stake
- Choose your stake option (e.g. 24 month, 12 month, etc). *You can click on each option to learn more on the estimated rate.
- Input your Stake Amount or use the slider. *You can only stake the amount you have in your wallet balance.
- Click Confirm Stake. You are now staking MXC on the DataDash App!
You will receive the staking rewards every 30 days after the start of the stake, and you can calculate the rewards you'd get simply clicking on the duration and see the monthly rate. For example, the 24 Month Stake will give you 0.7% of the staked amount per month, for an APY of 8.4%.
- The longer the stake duration, the higher the boost. Keep in mind that you won't be able to unstake within your stake period (except for a Flex Stake).
- The negative boost shown in Flex, 6 Month and 9 Month Stake means that the boost percentage is much less than the "standard boost" in 12 month Stake.
- Staking doesn't affect your daily mining rewards.