Staking is a way for Taki users to earn rewards by locking up some of the tokens they own for a period of time.
Staking requires the user to begin with tokens in their Taki wallet. After staking some amount of tokens, those tokens cannot be used by the user for other means (such as buying or selling User Coins, or withdrawing them from your Taki wallet). Initially Taki will support staking of the following tokens:
- $TAKI token
- $sRLY token
Taki users can decide how long they want to stake their tokens for from a list of predefined time durations. However, once the stake has been created, it cannot be canceled or redeemed until the time period has completed - meaning you will not be able to access the staked tokens. After the time period has elapsed, you can redeem the stake - your original tokens and earned rewards will be returned to your Taki wallet.
Initially, Taki users can have one active stake per token (choose your duration carefully as staked tokens will be unavailable until the selected duration expires). In time, more staking opportunities will be available to higher user levels.
Staking duration can be selected when creating your stake. Initially, the following durations are supported:
- 1 Day
- 4 Weeks
- 12 Weeks
Staking earns rewards for the user through a fixed APR. The APR will differ based on the duration selected. Both the APRs and the overall rewards model for staking is subject to change in the future.
Currently, the rewards earned from a stake will be rewarded with the same token type (e.g., if you stake $TAKI your earned rewards will be paid out in $TAKI).
When you stake a token, those tokens will no longer be available to trade until the stake is redeemed. However, the overall value of your portfolio will not change (as those tokens are still held within your Taki wallet).
Subsequently, your user level will also not be affected by any tokens you stake. Your portfolio will likely increase when you redeem your stake as you will receive rewards - your user level might too!