How to Stake on Taraxa to Earn 20% APY and Massive User Rewards

TL;DR

Stake here: taraxa.io/staking

Video guide: https://youtu.be/7ZrzxsEcqps

F.A.Q: https://docs.taraxa.io/faq/staking

Support: Discord

Why stake on Taraxa?

Taraxa, a Silicon Valley-based public blockchain that focuses on audit logging of informal transactions to infer social graphs from off-chain signals has made waves last year with their innovative approach to layer-one use applications and technical development.

Backed by heavyweights such as Fenbushi Capital, SNZ, and Youbi Capital, the team at Taraxa has been building the network since 2018 and validated the product with industry players across different verticals, having secured some big-name crypto partnerships as well.

Now, with over 409M TARA staked on the mainnet candidate, the team is shooting for the mainnet, offering their network participants massive user and node operator incentives and rewards. Here’s how you can participate.

How does staking on Taraxa work?

Staking TARA is a great opportunity to earn a fixed ~20% annualized staking yield for all stakers and node operators, with staked tokens delegated to active nodes. To participate in consensus, nodes will need to get a staking delegation. There are currently 59 nodes running on the mainnet candidate and the number is growing by the day. The network has achieved 5,000 TPS and sub-second block inclusion latency, with a roadmap towards an impressive 50,000 TPS.

If you are a node operator willing to join the network, check out this staking delegation guide here. Set up your node and register on Taraxa’s community site. There’s also a handy way to attract more staking delegation by advertising your node on Taraxa’s social channels:

To start staking, head over to the staking website and create your account. After you pass KYC, connect your Metamask, or any other Web3-enabled wallet. More detailed instructions can be found here.

They you will need to delegate your TARA to one of the node operators listed on the site. Be sure to look for a winner’s badge to select the best-performant nodes on the network. Here’s a detailed video guide on how to register on Taraxa’s community site and a staking delegation walk-through:

On top of that, for node runners, there’s also a weekly testnet block producer challenge with extra bonus rewards for top-200 node operators, and a slew of community bounties – check them all out here.

That’s it! Staking and bounty rewards are paid out monthly, and you can withdraw your staked tokens along with the accumulated yield any time.

Resources:

Taraxa is a purpose-built, fast, scalable, and device-friendly public ledger designed to track informal and unstructured transactional data to minimize business friction. Founded in 2018 by a group of accomplished engineers and academics, Taraxa has not only built a state-of-the-art decentralized infrastructure, but also delivered market-tested application platforms to secure machine state integrity, and track everyday agreements between people.

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Editorial Note: This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.