Waves.Exchange offers a wide range of investment products. Among them stands out, of course, Staking of various cryptocurrencies. Waves, USDN and DeFo staking attract users with their no risks investment process, while LP staking is preferable for its high income. The launch of WX token (a core Waves.Exchange ecosystem token) made it possible to run a new original type of staking - Staking of WX tokens. Staking WX tokens provides users with the opportunity not only to receive a passive income but also to participate in the governance of Waves.Exchange.
When you're staking WX, you “receive” a share of the WX staking reward, presented in gWX entity. The longer your staking period, the more gWX, and the greater the share in the staking reward you have. The WX staking income comes from the fees that traders pay for placing orders on the exchange. These fees are summed up and distributed once a week among the WX stakers, in proportion to their gWX share size. Read more about WX and gWX in our article.
Your vote strength when voting for the verification of tokens, liquidity pools etc. depends on the number of gWX you have at the moment of voting. The voting procedure is described in more detail in the Token Verification article and in the Pools voting article.
In addition to generating income and the ability to vote, WX staking allows you to increase income from investing in liquidity pools with boosting. The boosting coefficient (max is x3) you get when locking your WX will be adjusted to your LP Staking pools tokens reward according to the amount of gWX and the liquidity pool you have invested in. You can read more about boosting and liquidity pools in the Liquidity Pools article.
How to stake WX
Open the Waves.Exchange app, log in to your account, and then click on the Pools button. In the window that appears, go to the "WX Staking / Boosting" tab. After that, select the WX blocking period (from 2 weeks till 4 years), specify the amount of WX you want to stake (at least 1 WX) and click the Stake WX button.
Every week you will be able to claim your reward. To do this, open the Waves.Exchange app, log in to your account, and then click on the Pools button, then go to the "WX Staking / Boosting" tab and click on the Claim button.
If you have any questions related to Waves.Exchange, feel free to contact us via customer support
*tags: wx gwx staking boosting pools income reward claim