Cryptocurrencies

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How to stake PARSIQ (PRQ) coins?

Staking PRQ tokens via the official dApp offers passive income opportunities and network security incentives for PARSIQ blockchain participants.

Dec 30, 2024 at 12:36 pm

Key Points:

Staking PRQ tokens offers passive income and network security rewards.
Compatible wallets include MetaMask, Ledger, Trezor, and Atomic Wallet.
Staking duration can range from 30 to 180 days.
Higher staking amounts and longer durations yield greater rewards.
Rewards are distributed in PRQ tokens and paid proportionally to each participant's stake.

Step-by-Step Guide to Staking PARSIQ (PRQ) Coins

1. Acquire PRQ Tokens

Purchase PRQ tokens on reputable exchanges like KuCoin, Gate.io, or Uniswap.
Transfer the tokens to a compatible wallet such as MetaMask, Ledger, Trezor, or Atomic Wallet.

2. Choose a Staking Platform

Visit the official PARSIQ dApp at https://dapp.parsiq.net/#/staking.
Connect your wallet to the platform and allow it to access your PRQ tokens.

3. Select a Staking Pool

Select the staking pool you wish to participate in.
Each pool offers different staking terms, including minimum staking amount, duration, and rewards percentage.

4. Stake Your PRQ Tokens

Input the desired amount of PRQ you wish to stake.
Enter the staking period (between 30 to 180 days).
Confirm the transaction and wait for your tokens to be staked.

5. Track and Claim Rewards

Monitor your staked PRQ and accrued rewards on the staking dashboard.
Rewards are automatically paid proportionally to each participant's stake.
You can claim your rewards at the end of the staking period or leave them staked for further compounding.

Benefits of Staking PRQ

Passive Income: Earn rewards in the form of PRQ tokens for holding and staking your coins.
Network Security: Staking contributes to the security and stability of the PARSIQ blockchain by incentivizing token holders to participate in the consensus mechanism.
Voting Rights: Staked PRQ tokens may grant voting rights for network governance proposals.

FAQs

Q: What is the minimum staking amount?
A: The minimum staking amount varies depending on the chosen staking pool, typically ranging from 100 to 1,000 PRQ.

Q: What is the maximum staking period?
A: The longest staking period available is 180 days. Shorter periods, such as 30 or 90 days, are also offered.

Q: Can I unstake before the duration expires?
A: Yes, you can unstake your tokens before the duration expires. However, you may incur a penalty or lose out on potential rewards.

Q: How often are rewards paid out?
A: Rewards are paid out automatically on an hourly basis and are added to your staked balance.

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