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.”