AXS Staking Rewards | How to Stake AXS? - SarkariResult

News: Cryptocurrency has transformed the realm of transactions and brought forth innovative methods for recognizing and rewarding devoted users of particular crypto tokens. Among these tokens, AXS, the governance token of Axie Infinity, stands out. This piece delves into the strategies to acquire and stake AXS tokens, amplifying the rewards attainable within the game’s ecosystem.

Understanding Staking Rewards

Staking rewards serve as incentives provided to participants within the ecosystem of a cryptocurrency token. When you decide to stake your tokens, you essentially commit them to a specific cryptocurrency protocol. Depending on the quantity of tokens you’ve pledged, you might be selected as a validator tasked with validating blocks of transactions. As each new block joins the blockchain, additional tokens are generated and then distributed to those who have pledged their tokens as staking rewards. Typically, these rewards are dispensed in the same cryptocurrency that is being staked. It’s essential to emphasize that staking doesn’t lock up your access to your tokens; you retain the flexibility to unstake them whenever you desire, allowing you to trade or use them freely.

What is AXS Staking?

AXS staking is a mechanism through which the Axie Infinity community incentivizes its members for demonstrating a long-term commitment to the community. When you engage in AXS token staking, you not only acquire extra AXS tokens but also secure voting rights and the ability to influence the community treasury, housing assets worth billions of dollars. It’s important to note that AXS staking is an evolving concept in its developmental phase, and the community is dedicated to offering even more enticing rewards to its participants in the future.

How Does AXS Staking Work?

Imagine each AXS token as a fragment of the vast Axie Infinity game universe or as a share in a company. AXS tokens can be acquired through various means, such as staking, triumphing in in-game tournaments, or direct purchase from cryptocurrency exchanges. Within the game’s expansive universe, players utilize their AXS tokens and, in doing so, accumulate more tokens as rewards. The revenues generated within this gaming universe are directed to the community treasury, under the governance of its members.

To exert influence over this community treasury, AXS token holders choose to stake their tokens. In return, the community treasury reciprocates by granting them voting rights and even more interest on their staked tokens, further reinforcing their role in shaping the Axie Infinity ecosystem.

Checking Your AXS Stakes

To review your AXS staking status, simply navigate to the official AXS Staking Dashboard at stake.axieinfinity.com. Within the dashboard, you’ll gain access to various essential details, including the quantity of AXS tokens currently under staking, the pending tokens in your wallet, the total global staked AXS, and an estimate of rewards expressed as an annual percentage rate (APR). Additionally, you’ll discover real-time data concerning the market price of AXS tokens, the daily global reward distribution, and the circulating supply of tokens. This wealth of information is invaluable for gaining insights into the potential token rewards that await you.

How to Stake AXS Tokens

Staking your AXS tokens is a straightforward procedure. Begin by visiting the AXS Staking Dashboard at stake.axieinfinity.com and connect your Ronin Wallet, where your AXS tokens are stored. To do this, click on “Connect Ronin Wallet” and provide the public address of your Ronin Wallet. Once your wallet is verified, it will be successfully connected. Here’s a step-by-step guide to staking your AXS tokens:

Step 1: Upon the AXS Staking Dashboard, you’ll find information about the AXS tokens in your Ronin wallet as well as the balance of AXS tokens currently staked.

Step 2: Click on “Stake” to open a pop-up window where you can specify the number of tokens you intend to stake.

How to Unstake AXS Tokens

If you intend to unstake your AXS tokens, just adhere to these straightforward steps:

Step 1: Begin by visiting the AXS Staking Dashboard at stake.axieinfinity.com.

Step 2: Click on the “Unstake” option.

Step 3: A pop-up will emerge from your Ronin Wallet, allowing you to indicate the quantity of tokens you wish to unstake.

After confirming this unstaking process, your tokens will be promptly accessible for trading or any other desired use.

Duration of AXS Staking

AXS staking was introduced on September 30, 2021, and as of now, there is no set end date for this staking program. It is designed to continue indefinitely. However, it’s important to note that over time, the staking rewards may gradually decrease as the program evolves or as circumstances change.

Reward Calculation for Staking AXS

The rewards you receive from staking AXS tokens are directly correlated with the quantity you’ve staked. In other words, the more tokens you choose to stake, the greater your rewards will be. Additionally, the platform offers supplementary incentives for members who commit to staking for specific fixed durations, such as 3 months, 6 months, or 12 months.

However, it’s worth noting that the platform has recently announced a reduction in the total monthly distribution of AXS tokens as rewards. The allocation has been adjusted from 200,000 tokens to 1,566,000 tokens, reflecting changes in the rewards program.

Is Staking AXS Beneficial?

The choice to stake AXS should align with your specific goals. If your primary objective is to generate income through staking, it’s advisable to stake when the token’s value is lower and consider unstaking when the value is high to maximize your earnings. It’s also a good practice to keep a portion of your AXS tokens staked to retain your voting rights and influence over the governance of the platform.

As per the platform’s guidance, you have the option to withdraw your staking rewards as early as 24 hours after initiating the staking process, providing a degree of flexibility for those who wish to access their earnings promptly.

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Safety of Staking AXS

Staking AXS is generally regarded as a safe practice. The value of AXS has demonstrated stability over time, and the platform has enjoyed consistent growth in its player base. Nevertheless, like any cryptocurrency investment, there are inherent risks involved. It’s prudent to stake only an amount of AXS tokens that you are prepared to potentially lose entirely in a worst-case scenario. Diversifying your investments and conducting thorough research can also help manage risks in the cryptocurrency space.

Staking AXS tokens can be a fulfilling experience within the Axie Infinity ecosystem. Through staking, you not only accumulate more tokens but also acquire the ability to participate in governance and influence the community treasury. However, it’s crucial to carefully assess the associated risks and make well-informed decisions in line with your specific goals. If you’re ready to embark on this journey, consider staking your AXS tokens today to enjoy the rewards while actively contributing to the flourishing Axie Infinity community.

FAQs

Q: Can I unstake my AXS tokens at any time?

A: Yes, you can unstake your AXS tokens at any time if you wish to trade or use them.

Q: How can I check my AXS stakes?

A: You can check your AXS stakes on the official AXS Staking Dashboard (stake.axieinfinity.com).

Q: Is staking AXS safe?

A: Staking AXS is generally considered safe, but it’s important to be aware of the inherent risks associated with any cryptocurrency.