Staking
Last updated
Last updated
The staking feature in the USDV ecosystem allows users to earn rewards by staking their USDV stablecoins or other supported cryptocurrencies for a specified period of time. Staking is a way to support the USDV network and earn rewards in return.
To use the staking feature, a user must first have a positive balance of supported cryptocurrency in their wallet. They can then go to the staking section of the USDV platform and select the cryptocurrency they want to stake. Follow the instructions by visiting the “3pool” on Curve.fi. Once there, add liquidity of any accepted token to 3pool on Curve.fi and wait for the LP token. Then return to the staking section and simply enter the amount of LP tokens you've received on Curve.fi. All rewards will be generated for you according to this formula. Once the staking period is over, the user will receive their earned rewards.
The staking rewards in USDV are typically paid in the form of USDV stablecoins or other supported cryptocurrencies. The rewards rate and payout frequency may vary depending on the network's demand and supply.
Staking in USDV provides a way for users to earn passive income on their cryptocurrency holdings while also contributing to the stability and security of the network.
As an asset owner, you simply need to enter the amount and press the "Deposit" button in order to proceed. If the deposit has not collected a reward, it will be withdrawn to the user's wallet.
Clicking the "Claim" button will trigger the transfer of the earned rewards from the rewards pool to the user's wallet. After the rewards have been claimed, they will be available for the user to use as they see fit. Depending on the cryptocurrency being earned as rewards, there may be network fees or other transaction costs associated with claiming and using the rewards.
