Staking
Definition:
Staking crypto tokens or NFTs locks them away for a certain amount of time to earn interest. The interest can be paid in similar tokens or in a different currency such as ETH. Staking is used by a project to encourage hodling and not listing on secondary markets or selling at exchanges. An APY%, or Annual Percentage Yield, is often quoted as a staking reward.
Degen Chat
“I’ve been staking my @Wicked Craniums for some really cool NFT rewards.”
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