LYO Credit token staking service is available on lyotrade.com
LYO Credit Reward
- Lock 3 month: 0.5%
- Lock 6 months: 1%
- Lock 12 months: 1.5%
- Lock 24 months: 3%
Available only from web browser, minimum 50 LYO to the maximum of 100,000 LYO. Rewards are processed after closing pool every last day of the month.
By staking your tokens, you will receive rewards in that token. This is possible thanks to the work of your wallet as a transactions validator.
How Does Staking Work?
Cryptocurrencies validate new transactions, add them to the blockchain, and crew new coins or tokens in two types of consensus mechanisms: Proof of Work and Proof of Stake.
The first type of consensus mechanism is Proof of Work. It is an algorithm where the blockchain is verified and made secure through solving a computational puzzle. However, it needs hardware to work. There are even mining farms scattered around the world filled with supercomputers to mine coins. The first one who solves the puzzle is the one who’s going to update the blockchain. In return, the miner will be rewarded with crypto.
The second type of consensus mechanism is called Proof of Stake. The process also adds new transactions to the blockchain, however, the procedure is different. In a proof of stake protocol, the user will lock their crypto assets to verify transactions and update the blockchain for a given time. The user will receive crypto as reward.
Should You Stake LYO Now?
The products and services of the LYO Ecosystem continue to upgrade. With this, the value of the LYO Credit token is projected to increase. When you stake LYO Credit, you don’t just get rewards but you also make the platform more secure and solid.
Take the opportunity and join the stake service directly on LYOTRADE exchange!