This is especially so for people who are bullish on Harmony as it helps to secure the network transactions, and earns you additional One tokens with no impermanent losses. If you have some ONE tokens in your exchange or wallet, you should consider staking them. To receive your stOne liquid staking tokens, simply stake your One tokens and receive stOne in return, based on the prevailing exchange rates. You can also provide liquidity for the stONE-ONE LP, earning additional LP fees as well as incentives.Īnother benefit is also the ability to swap stONE for ONE using the LP to skip the undelegation waiting time, if you need funds urgently. Harmony is a fast and secure blockchain with key innovations in state sharding and peer-to-peer networking. Image Credit: Tranquil Financeįor example, you can use it as collateral to borrow money from, or simply supply it to earn about 8% APY at Tranquil Finance. This is in contrast to traditional staking, where you will have to manually collect and re-delegate rewards to compound.Īnother benefit of liquid staking that DeFi enthusiasts love is its many use cases - stONE can be also used in DeFi applications to earn additional rewards on top of staking rewards. One benefit of liquid staking tokens is the auto-compounding of staking rewards, allowing for convenient compounding of rewards. This allows users to stake their ONE tokens with validators, helping secure the network and earn staking rewards. Welcome to Moonstake, one of the top 8 staking providers in the world. Tranquil Finance offers stONE, a liquid staking derivative. With liquid staking, however, you can do much more with your One tokens. They will be delegated to the validator, until you decide to undelegate them. Typically when you stake your One tokens, you will be unable to access them any further. Other factors that I also consider are their uptime, and their commissions.ĭo note that you need to delegate a minimum of 100 ONEs for staking. If you do decide to unstake, you will need to wait through seven epochs to retrieve your ONE tokens. I typically choose validators that I recognize as active and involved in the community. The overall expected returns from staking is about 10% a year, but there are variances between validators. Next, go to the Harmony One staking website, and choose between the list of validators available. To stake your ONE tokens, you need to first create a Harmony One wallet, and transfer your ONE tokens over. As there are new yield farms being created everyday, please do your own research on the team’s background before committing large amount of cryptocurrency to a new farm. In this article, we explore the different ways we can earn additional rewards by staking our Harmony One tokens. For Harmony One, here are a list of liquidity pool provider or yield farms where you can supply your cryptocurrency into in order to generate a return on your digital asset. Staking them helps to strengthen the network security, while earning you rewards at the same time. The more protocols built on top of the liquidity pool, the safer it is.Do you have Harmony ONE tokens just idling in your wallet? Why not maximize your gains by staking them in the meantime? staked with liquid staking platform Lido Finance and some 160,000 tokens about 300 million at current prices deployed in its own staking pool.The more users staking their cryptocurrency (total value locked), the safer it is. Users can use the information to connect their wallets and Web3 middleware providers to the appropriate Chain ID and.High APYs (4 – 7 digit APYs) generally means the liquidity pool is relative new and less stakers to split the pool rewards.The more cryptocurrency pair available for staking, the safer it is.The more total value locked in the farm, the safer it is.The longer the liquidity pool is around, the safer it is.Pool ProviderĪs there are new yield farms being created everyday, please do your own research on the team’s background before committing large amount of cryptocurrency to a new farm.Īs a rule of thumb, signs of a good liquidity pool include: Here’s a simple illustration from Uniswap on how liquidity pool works: Image Credit: UniswapĪs a liquidity pool provider, you will earn interest originating from the transaction fee generated whenever a trader or borrower executes a cryptocurrency trade.įor Harmony One, here are a list of liquidity pool provider or yield farms where you can supply your cryptocurrency into in order to generate a return on your digital asset. For cryptocurrency holders, one of the ways to earn passive income on your idle cryptocurrency is to supply them into liquidity pools and earn yields from these liquidity pools.
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