In the earliest days of cryptocurrency, mining was the primary way new coins were brought into circulation. Miners used powerful computers to solve complex math problems, and in exchange, they were rewarded with a certain number of coins. But as more and more people began mining, the difficulty of the math problems increased, and it became increasingly expensive to mine coins.
In response, some cryptocurrencies introduced a new way to bring coins into circulation: staking. With staking, instead of solving complex math problems, people hold onto their coins in a “staking wallet” to help secure the network. In exchange for doing this, they earn interest on their coins.
Crypto staking is still a relatively new concept, but it has already become a popular way to earn passive income with cryptocurrencies.
Oryen Network (ORY), a new auto-staking protocol, outperforms market veterans, 1inch Network (1INCH), and Binance Coin (BNB) with accessibility and ground-breaking staking rewards.
Oryen Network (ORY)
Oryen Network is a newcomer to the DeFi industry, offering a simple staking mechanism to everyone, regardless of prior expertise.
Oryen employs the OAT (Oryen Autostaking Technic) technology, which automatically stakes the native token, ORY, on the user’s behalf. Investors must keep ORY in their wallets to qualify for rebasing payouts, which are given hourly at a daily rate of 0.177%. This adds up to an exceptional fixed rate of 90% APY.
This generous fixed 90% APY is guaranteed by Oryen’s innovative Risk-Free-Value wallet integration and backup treasury. These features protect the staking platform from market swings and lets holders receive consistent staking payouts.
1inch Network (1INCH)
The 1inch network is a decentralized exchange aggregator that allows users to trade digital assets. In December 2020, the network introduced its governance token 1INCH. The primary method to earn 1INCH tokens is to provide liquidity to 1inch’s liquidity platform or stake 1INCH on the governance site.
Currently, the Staking APY for 1INCH is approximately 21.71%. Stakers get 38% of all fees earned by the protocol, which are obtained via ecosystem partnerships and positive slippage.
While this is a pretty solid rate, 1INCH can not beat Oryen’s static 90% APY.
Binance Coin (BNB)
Binance Coin, which trades under the sign BNB, is the cryptocurrency issued by the Binance exchange. BNB coin was launched in 2017 as a utility token for reduced trading costs. However, its applications have now grown to include various platforms and applications. It covers transaction costs on Binance.com, Binance DEX, and Binance Chain.
Users can also stake BNB tokens and earn passive income. However, similar to 1INCH, the staking rewards are flexible and currently account for up to 27.49% APY.
Final Thoughts
With a 90% APY, Oryen Network is obviously ahead of 1inch Network and Binance Coin. While the two competitors offer a varying APY that fluctuates with the market, Oryen Network’s interest rate is fixed. This lets users know exactly how much they will earn on their investment, making it a more attractive option for stakers.
Learn More About Oryen:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
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Source: https://nulltx.com/staking-guide-why-oryen-network-is-ahead-of-1inch-network-and-binance-coin-with-static-90-apy/