How to Stake Zilliqa | Cryptopolitan

Staking involves locking up your ZIL tokens for a fixed period to participate in block production and earn rewards. You can stake your ZIL tokens through an exchange or directly on the Zilliqa network.

Note that Zilliqa is currently undergoing some API-connection maintenance on Staking Rewards. They are working on solving this, so the data presented on this page may or may not be accurate and updated.

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Source: Zilliqa.Earn

Today’s Zilliqa price is $0.046683, with a 24-hour trading volume of $283,973,253. Zilliqa has been up 3.65% in the last 24 hours. The current CoinMarketCap ranking is #74, with a live market cap of $614,121,688. It has a circulating supply of 13,155,229,840 ZIL coins and a max. supply of 21,000,000,000 ZIL coins.

Let’s dig deeper into the background of the ZIL token and Zilliqa network before we focus on the details of how to stake Zilliqa.

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What does Staking Zilliqa Mean?

Zilliqa uses a Proof of Stake (PoS) consensus mechanism rather than Bitcoin’s PoW (Proof of Work). If you’re unfamiliar with crypto mining, you may wonder what that is. Cryptocurrencies are minted via a decentralized network.

In a nutshell, Bitcoin employs a hardware solution called Proof of Work to solve this problem. On the other hand, Ethereum and Solana are employing software solutions known as Proof of Stake (PoS) to create new money. You can earn ZIL tokens by staking your ZIL tokens and helping to safeguard the network in the process.

The individual reward depends on how much ZIL is staked in the network. The Zilliqa Reward Calculator estimates the reward with various conditions. For example, the APY for non-custodial staking on Zilliqa will depend on the total amount of $ZIL in circulation being staked – e.g., if 80% of the total amount of $ZIL in circulation is staked, users can expect an APY of approximately 6%.

What is Zilliqa?

Zilliqa is a blockchain that provides both DeFi and the most straightforward approach to building user-friendly dApps. This is an open and transparent marketplace where users may mint items and convert them into unchangeable, tamper-proof NFTs. Metapolis, a revolutionary metaverse-as-a-service (MaaS) platform built on the Zilliqa blockchain, is embraced by Zilliqa.

The blockchain’s high-throughput and low fee structure make it an attractive option for DeFi developers.

Zilliqa’s blockchain is protected and safe. It was created by the industry’s brightest minds and most seasoned experts. The project aims to lower transaction costs and provide a developer-friendly smart contract language. Its consensus protocol was created with sustainability in mind. The network’s transaction capacity increases as the network grow.

Zilliqa is a blockchain infrastructure firm with high-level security and exceptional performance. It’s the world’s first public blockchain based on a sharded architecture for building next-generation apps. The network architecture can handle transactions without needing a trusted coordinator, making the platform completely decentralized. Anyone may create P2P payments and develop decentralized applications.

Even a novice can develop decentralized apps on top of Zilliqa and take advantage of the blockchain’s benefits because it is simple to use. dApps open new possibilities for creative industries, gaming, finance, and other sectors by providing more innovative options.

What Is Staking?

Staking is the process of putting money in a cryptocurrency wallet and participating in the maintenance of a proof-of-stake (PoS) blockchain system by locking or holding it. It is comparable to crypto mining in that it aids a network in achieving consensus while rewarding participants.

Why Stake Zilliqa?

Staking tokens is an excellent method to earn passive income, comparable to that available through a bank’s savings and interest account. Staking will take ZillIQa’s decentralization to new heights while providing further advantages to the community. The APY for non-custodial staking on Zilliqa will be determined by the total amount of $ZIL in circulation that is staked – e.g., if 80% of the total amount of $ZIL in circulation is staked, users may anticipate an APY of about 6 percent.

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Click on the calculator to get a fair estimate of your rewards.

How to stake Zilliqa on ZilPay

To stake Zilliqa, these are the best places to stake your ZIL coins: Binance CEX.IO, Huobi, Atomic Wallet, Guarda Wallet, Moonlet, ZilPay, and Ledger Nano(Offline hardware wallet)to choose a wallet that supports ZIL staking. We would recommend a Ledger Nano S, Moonlet wallet and ZilPay

Step 1 – Download the wallet of your choice and create a Zilliqa wallet. Because fees must be paid in ZIL, at least 100 ZIL must already be on the wallet. It is also necessary to have the requisite amount of relative ZIL required for fees, which will also be utilized for withdrawal and unstaking.

Step 2 – Assuming you have already created a Zilliqa wallet, the next step is to find a platform that allows you to stake your tokens. The easiest way to do this is to go to the ZilPay homepage and click on the “Stake” tab.

Step 3 – Determine whether you will delegate tasks or perform them yourself, whether you will function as a seed node or an operator.

Step 4 – Once we’ve selected one of the two options, you can use your login method of choice.

Within the platform, we can examine all of our data, such as a summary of our stake, and at the bottom, various operational seed nodes with all of their capabilities, such as the total stake, fee percentage, and the number of delegators they have.

How to Stake Zilliqa: Earn 6% APY based on 80% ZIL in Circulation 1

Step 5 – Select the “Stake” and then proceed to the next screen and enter the number of ZIL you want to stake.

Step 6 – Click “Delegate” to finalize the process.

As we can see in the image below, our stake has been processed and is now represented by the faded blue bar. (at least 10 must be deposited). The interface informs us that we’ll need at least 100 ZIL to withdraw funds.

How to Stake Zilliqa: Earn 6% APY based on 80% ZIL in Circulation 2

Step 7 – Finally, we press the “Stake” button and confirm the transaction with our wallet by paying the required amounts, which usually total 25 ZIL.

Step 8 – When the transaction is finished, you’ll see data on your stake portfolio and how many ZIL and gZIL have been added in the “My Staking Portfolio” section.

Remember that the first year will be the only one during which governance tokens, such as gZIL, will be issued.

Step 9 – On this page, we can see the APR, which is presently more significant than 100%, while if we want to collect the bonuses, we must click on the “Manage” button and choose whether to “Claim Rewards,” “Transfer Stake,” and “Initiate Stake Withdrawal.”

There are 991 delegators, 5 seed nodes, and 65 million ZIL staked at the moment, which amounts to 0.47% of the total supply.

The APR is determined by the amount of money you borrow and should be kept in mind because each value has a different APR, as follows:

-49% if 10% of the supply is blocked;

-25% if 20% of the supply is blocked;

-17% if 30% of the supply is blocked;

-13% if 40% of the supply is blocked;

-10% if 50% of the supply is blocked.

How to Stake Zilliqa on Cryptocurrency Exchanges

If you already have an account with Binance or CEXIO and have done some cryptocurrency trading, the simplest solution is to stake ZIL there. I’ll go through the various staking options for Zilliqa on the world’s major exchanges.

Staking ZIL on CEXIO

How to Stake Zilliqa: Earn 6% APY based on 80% ZIL in Circulation 3

To start staking Zilliqa(ZIL) at CEX.IO, perform the following steps:

Step 1 – Create a free account at CEXIO

Step 2 – Navigate to ‘Earn’ at the top menu and choose ‘Go to Staking’

Step 3 – Select ZIL from the dropdown list

Step 4 – If you don’t have ZIL funds, ‘ Market Buy ‘or ‘Deposit.’

Step 5 – Click ‘Save ‘and continue

How to Unstake Zilliqa

You’ll have to wait for the unbonding period to expire once you’ve submitted an unstake request. That’s roughly two weeks, or 24000 blocks, in case you’re wondering. Please remember that you won’t receive any rewards during the unbonding period. Start with Dashboard, ZIL Account Page, My Stakes, Select Node, and Unstake.

Next, you must confirm the transaction in your wallet. Afterward, go to ZilPay and check the “Unstaking” tab to see if your unstake was successful.

Benefits of Staking Zilliqa

  • Zilliqa incorporates powerful sharding technology to boost scalability.
  • Transactions are processed fast
  • Zilliqa uses a Proof of Work (PoW) and a BFT consensus to safeguard the network.
  • Zilliqa uses Scilla, which provides several advantages to the platform.
  • There’s a lot of potential for Zilliqa, as it has a solid team and plenty of room to grow.

Risks of Staking Zilliqa

  • Even though there is no limit to the number of transactions, in theory, there is a limit on the number of nodes in practice.
  • The installation of smart contracts, particularly sharding technology, has been a significant barrier to Zilliqa’s progress.
  • The project has been around for a while and still hasn’t delivered its promises.

Should I stake Zilliqa?

Staking ZIL is an excellent approach to put your ZIL to good use and get rewards while contributing to the network. If you want to stake your ZIL and don’t know how or where to do it, this guide is for you. The yearly percentage return (APR) for staking is determined by the total amount of ZIL in circulation at any moment.

Staking on crypto assets is an excellent way to earn a return on your investment and help support the network. Overall, ZIL staking on the CEX.IO node and through your standard CEX.IO account has advantages. Both have their benefits. Choose the one that best fits your needs. Staking on the node is an excellent choice if you want to be involved in Zilliqa’s governance decisions and don’t mind using a more complex user interface.

Aside from Zilliqa’s cutting-edge technology and potential for future development, the cryptocurrency also has several meaningful partnerships that help to strengthen its legitimacy and investment appeal.

Zilliqa is one of the most promising blockchain projects in terms of potential, and it’s a great addition to any investor’s portfolio.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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