Staking is a process by which holders of cryptocurrency are rewarded for holding their coins or tokens for a certain period of time by receiving interest obtained from the activity of validating transactions in blockchain networks. Immutable X, the Ethereum-integrated staking platform, provides safety, security, and high-yield interest rates for cryptocurrency holders who are looking to easily stake their tokens.
With IMX staking, users can earn annualized staking rewards, net of fees, on their cryptocurrency holdings through Immutable X’s pooled staking system. This means that all IMX tokens held in the pool are combined, and the overall rewards are divided amongst all stakers. This is done in order to maximize rewards for stakers and ensure the most state-of-the-art security protocols are in place.
In order to stake IMX tokens, users need to be registered on the Immutable X platform. This entails setting up an account and storing IMX tokens on the platform. After they are set up, users can then choose to either stake their tokens in a pooled account or in a standalone one. Staking pooled tokens through the Immutable X platform provides additional security, as all tokens held in the pooled account are staked on their behalf.
Once users’ tokens are pooled, they will be given a portion of the rewards obtained from staking rewards. These rewards consist of two components: base rewards and inflation rewards. The base rewards are the rewards earned from the total staking rewards obtained, while the inflation rewards are rewards obtained from the newly released IMX tokens being sold on the market. The rewards distributed to IMX stakers are based on the amount of IMX tokens held in the pool.
By staking IMX tokens through Immutable X, users can not only earn rewards from their holdings but also benefit from the security and safety of their token holdings on the platform. Immutable X’s platform uses advanced security protocols to ensure that all tokens staked are safe from malicious attacks, and all rewards obtained from IMX staking are returned to the wallets of stakers quickly and securely.
For those who are looking for a secure and rewarding way to hold their IMX tokens, Immutable X staking is the perfect way to do it. With its high yield rewards and secure platform, IMX token holders can enjoy the benefits of passive income while also feeling secure in the knowledge that their holdings are safe on the platform.