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.