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Introduction
WX.Network offers a wide range of investment products. Among them stands out, of course, Staking of various cryptocurrencies. Waves staking attract users with its 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 not only to receive a passive income but also to participate in the governance of WX Network.
When you're staking WX, you “receive” gWXs, which increase/boost you income from the liquidity pools investment. The longer your staking period, the more gWX, and the greater your boosting. The boosting coefficient (max is x3) you get when locking your WX will be adjusted to your LP Staking pools tokens reward according to the amount of gWX and the liquidity pool you have invested in. You can read more about boosting and liquidity pools in the Liquidity Pools article.
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 the Token Verification article and in the Pools voting article.
How to stake WX
Open the WX Network app, log in to your account, and then click on the Investment item in the bottom menu. Scroll the page down to the WX Staking panel and click it.
On the appeared tab, you can continue staking process, check the staking details (period, amount of staked WX, available WX tokens) and unlock the staked WX when the staking period is ended. To stake WX, click the Stake at the bottom of the tab.
On the next window, select the WX blocking period (from 2 weeks till 4 years), specify the amount of WX you want to stake (at least 1 WX), confirm that you agree with a WX staking rules and, of course, click the Stake button.
Note: if you already have staked WX, then the period of each new stakings will be the same as current lock period. You can extend period during the staking process.
WX staking reward (deprecated)
Until December 13, 2022, WX stakers received an additional reward, which consisted of trading fees. If you stake your WX until December 13, 2022, some of that reward may remains unclaimed. To check it, open the WX.Network app, log in to your account, and then click on the WX Staking panel in the Investment tab and click on the Claim button if you have unclaimed WX tokens.
If you have any questions related to WX Network, feel free to contact us
*tags: wx gwx staking boosting pools income claim