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Crypto Pilgrim
By Crypto Pilgrim
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sWAVES staking

Table of contents: - Intro - How to stake WAVES - How to unstake WAVES Intro sWaves protocol allows PepeTeam users to earn a passive income and manage the protocol’s condition (to be done). sWaves protocol is based on one of the core functionality of the Waves blockchain - Waves staking. The Waves blockchain users share their WAVES with the Waves nodes to increase nodes' chances to mine a block. In return, the nodes owners share a mining reward with users, sending the reward via transfer or mass-transfer transactions. Waves stakers have to stake received reward if they want to compound their income and increase APY. Sending mining rewards by node's owners and staking received rewards by stakers requires the payment of a transaction fee. These transaction costs reduces the Waves staking profitability. The PepeTeam found a way to minimize these costs and increase the WAVES staking APY. WAVES staking with the PepeTeam. How does it work? The PepeTeam users can provide WAVES to the protocol’s contract and receive sWaves tokens in return. The contract stakes their WAVES to PepeTeam's own node. The reward received for mining is automatically staked to the same node, increasing the protocol's balance and, therefore, collateral of sWaves. A staker can unstake his WAVES and receive his deposit and income at any time. In short, user can exchange his sWaves tokens for Waves at the new rate. Find more info about sWaves magic in the lite paper. Besides, sWAVES which were used to pay the transaction fee, will be exchanged for WAVES via sWAVES contract and part of them will be added to the sWAVES collateral. Wow! Tell me, how to stake! First, head over to your WAVES account on the PepeTeam site via Keeper Wallet extension or Keeper Mobile. Then, after connecting, calculate your approximate income, based on the current APY. If you are surprised, then it's time to click "Deposit" button. When you click on the "Deposit", a pop-up window will appear. Enter the amount of Waves you want to invest…the more the better...check the sWAVES amount you will receive in return and other additional info. And finally, click the "Deposit" button once again. That’s it! sWaves tokens are already transfered to your Waves account. Tips: sWAVES tokens may not gather dust on the balance. You can increase your income by investing your sWAVES tokens in sWAVES/WAVES or sWAVES/XTN pool on WX Network. Tempting? - Find more info right here. Are you going to withdraw Waves from sWAVES staking?! So sad 😞 Okay... then scroll the sWAVES page down until such a widget appears and click on the "WITHDRAW" button. Enter the sWAVES amount that you want to exchange for Waves in the appeared pop-up. After that, the WAVES amount you receive, will appear. Check it and other additional info. Done? Ok, click the "Withdraw" button if you haven't changed your mind. And, you will have your WAVES back in an instant! Do some questions remain after reading this awesome rich article? - If so, try to ask them our support.

Last updated on Mar 22, 2024