Staking EFX
Written by Hudson (Phankeys)
What's "staking"?
Okay, so you bought or received some EFX doing tasks in the EFFECT FORCE and you would like to know what to do with them.
In this section we will cover "Staking". In crypto staking means locking up you funds -in this case EFX and/or NFX- in order to get rewards. So you lock up your EFX and NFX and for doing that you can become part of the EffectDAO.
Staking is also good for the price of the token. If you stake your EFX that means that there's less EFX in circulation, and in case demand is high the price goes up. It's all about demand and supply!
How to stake my EFX?
You can stake your EFX in the EFFECT DAO. Always make sure that you are visiting the correct link! You will need an EOS account and a wallet.
https://dao.effect.network/
The EFFECT DAO allows you to stake your EFX and NFX so you can become part of the DAO and get rewarded. In the Effect DAO you can:
Stake your tokens
Make proposals and get paid
Vote for the active proposals, if you are a Guardian.
Check the Token Map
Check and claim your rewards.
Written by by Hudson (Phankeys)
Last updated
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