WX Network offers a wide range of investment products. Among them stands out, of course, Staking of various cryptocurrencies. Waves, XTN 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 WX Network 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 to receive a passive income (20% of WX emission), increase their rewards for liquidity pool's investment and, also, participate in the governance of WX Network.
When you're staking WX, you “receive” gWXs. Once a week 20% of WX emission is distributed among WX stakers, based on their share in the total amount of gWX.
Also, gWX holders can use their gWX, voting for a pool in the WX Emission Distribution to increase/boost their income from the liquidity pool investment. The more gWX you use in the WX Emission Distribution voting, the more boost you get. You can read more about boosting and liquidity pools in the Liquidity Pools article.
BTW, gWX can be used for the WX Emission's changing, managing WX Network development's way, token verification. 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 these articles.
How to stake WX
Open the WX Network, log in to your account, hover over the Governance item, and click on the Get gWX button.
In the window that appears, 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 Get gWX button.
To get your reward for WX staking, open the WX Network, log in to your account, hover over the Wallet item, and click on the My Rewards. Then, click the Claim WX button in the WX Staking Reward section.
If you have any questions related to WX Network, feel free to contact us
*tags: wx gwx staking boosting pools income claim