This week we announced that the Flashloans.com Staking platform feature will be going live, we now have all the membership levels and staking benefits. So let’s take a look what staking is, the staking functionality on the Flashloans.com platform and how it works.
What is Staking?
Staking is a way to use your crypto holdings or coins to earn additional rewards. Similarly, to the traditional finance world, it’s like generating interest on a cash savings account, or earning dividends on stock holdings.
Essentially, coin holders allow their crypto to be used as a part of the blockchain validation process and are rewarded by the network for the use of their assets. For crypto investors, staking can open another potential avenue to generating returns.
The reason your crypto earns rewards while staked is because the blockchain puts it to work. Cryptocurrencies that allow staking use a “consensus mechanism” called Proof of Stake, which is the way they ensure that all transactions are verified and secured without a bank or payment processor in the middle. Your crypto, if you choose to stake it, becomes part of that process.
Flashloan.com Staking Functionality
Stake
Flashloans.com platform users will be able to stake Flash tokens directly on the Flashloans.com website. Tokens can either be purchased through Uniswap or can be mined through the platform using the transaction mining programme.
Unstake
To unstake Flash tokens, click on the unstake menu, select the number of Flash tokens you want to unstake and click Unstake. Tokens will now become available in your available token balance.
Claim
Flash tokens can be claimed at any time without penalties — simply unstake and staked tokens become available in your withdrawable token balance. Token distribution is possible to platform users and existing Flash token holders.
How It Works
Most liquidity mining programs require participants to stake tokens into a pool to farm yields. The Flashloans.com model focuses instead on trading volumes and staking amounts, allowing tokens to be claimed by non-Flash tokens holders who are using the Flashloans.com platform.
Staking Details
The Flash token mining programme will distribute FLASH tokens as rewards on a monthly basis. Rewards are calculated based on the amount of tokens and the amount of time your tokens are staked.
Staking is just one of the features we have planned for the Falshloans.com platform. Follow our regular business updated for more information.
Flashloans is a new DeFi tool that allows users to create and perform a Flash loan backed trade from an easy-to-use UI. For more information go to Flashloans.com