What is staking
Waves staking is the feature allowing to invest your WAVES tokens to get profit. The estimated annual interest is 4%.
What is WAVES
WAVES is the main asset of the Waves blockchain. In April 2016, 100 million WAVES were issued.
Waves staking
Waves staking (or Waves leasing) allows the WAVES holders to stake (or lease) their tokens to a staking pool (or “leasing pool” or “node”) to earn a passive income, that is additional WAVES as a reward. It’s like you rent your WAVES to a staking pool that uses them for mining. This also makes the network more reliable and secure.
Waves staking
Stake your Waves to earn interest daily, weekly, monthly
In more technical language, WAVES Staking is a non-direct delegation of WAVES assets to pool owners to earn a percentage of the payouts as a further reward from mining and also with the goal of improving the stability and security of the network.
WAVES assets are not actually being delegated to another account, they remain on the sender’s balance, however, they are “frozen” and cannot participate in the buying and selling operations, as well as they cannot be sent to another account.
At any time, the sender can “unfreeze” assets by invoking the Cancel transaction.
The assets transferred to the staking provide the staking recipient with a greater chance of mining another block. The recipient of the staking (miner) can share the income from mining with the one who provided him WAVES to staking. WX Network does not regulate the payment process for mining, this remains at the discretion of the miner.
Benefits for the lessor
The Waves holders earn a percentage of the payout as a reward for leasing their tokens to the Waves nodes.
Rewards for Waves leasing
The estimated annual interest is 4%.
- The node owner may send to leaser a part of rewards according to his conditions.
- The more transactions that are made on the network, the more rewards leasers get.
- These rewards mostly are in Waves but also they can be in the form of different tokens with the unique Waves feature where different tokens can be accepted as a fee.
Safety
When the user starts leasing Waves, those leased Waves are locked and remained in the same address with the full control of their owner (They are not transferred to the node, they just remain unspendable until the lease is canceled by the leaser).
What are Waves nodes (or staking pools)
A Waves node or staking pool is a public node in the Waves network that makes regular payments for staking.
How to choose the right Waves leasing pools (or nodes)
The only thing to consider when leasing is to choose the right node operator, as the operator’s node may work with different efficiency and send back different percentages as rewards.
Instructions to lease Waves
To start leasing, the Waves holder needs to create a lease transaction and specify the recipient address (node address) along with the amount of Waves to lease.
Open WX Network app, then go to Log in > Investments > Waves Staking. Click on “Stake WAVES “, select a leasing pool address from the list on the left (or enter it manually) and enter the amount of Waves, click on “Stake WAVES”.
- The generating balance will be updated after 1000 blocks.
- Your Waves never leave your wallet.
- The leased amount cannot be transferred or traded by you or anyone else.
- You can cancel a leasing transaction as soon as it appears in the blockchain which usually occurs in a minute or less.
What are whales?
Whales are pools whose generating balance exceeds 4M WAVES. We do not recommend staking WAVES to large pools, as this leads to centralization, and, as a result, to a decrease in network security.
What if I want to stake to a pool that is not in the list of verified pools?
Actually there are more than 20 verified pools. However if you want to lease your WAVES to a different pool, you can choose the enter manually option. After that, you can fill in the pool address or alias manually.
I stake WAVES to the pool. When will I start receiving my rewards?
Usually, WAVES begin to work less than 17 hours after they are staked. Clarify the specific time of payments and their frequency with the owner of the staking pool.
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