Unlocked Stake your PRX on dAPP
Stake your PRX on Parex Chain and earn rewards!
What is Unlocked Stake?
Unlocked Stake refers to a type of staking system where users can stake their tokens and earn rewards but have the flexibility to un-stake their tokens at any time. This type of staking contrasts with locked staking, where tokens are locked for a fixed period, and users cannot access them until the end of that period.
The prerequisite is to locked stake a MINIMUM of 50 PRX.
Key Features of Unlocked Stake:
Flexibility:
Users can un-stake their tokens whenever they want without being bound by a fixed lock-up period.
Earnings:
The earnings percentage is typically a fixed rate. In the Parex ecosystem, the earnings percentage for unlocked stake is 5% of the staked amount.
Validator Fee:
A fee is deducted from the generated rewards. In the Parex ecosystem, this validator fee is 9% of the generated rewards.
Immediate Access:
After un-staking, users usually have to wait for a short period (e.g., 7 days) to withdraw their tokens and accumulated rewards.
Unlocked Stake System in the Parex Ecosystem
Features:
Earnings Percentage: 5% of the staked amount
Validator Fee: 9% of the generated amount
Example Earnings: If you stake 50 unlocked, you will receive 0,000285388 PRX per hour after deducting the hourly fee.
Withdrawal Period: When you un-stake, you can withdraw your earnings and the staked amount after 7 days.
Staking Unit: wPRX (You can convert your PRX to wPRX through swap.parex.network)
Steps to Unlocked Stake:
Connect Your Wallet:
Select the "Unlocked Stake" tab and click the "Connect Wallet" button.
Connect your EVM-compatible wallet (e.g., MetaMask).
Select Your Wallet:
Choose the wallet you want to connect and give the necessary approvals.
Ensure Adequate Balance:
Make sure you have enough wPRX in your wallet for staking and some PRX for network fees.
Staking Process:
Enter the amount of wPRX you want to stake.
Click the "Locked Stake" button (minimum of 50 unlocked stakes).
Approve the spending and then confirm the staking transaction.
Unlocked staking process is completed with these steps. You can make as many Unlocked stakes as you want.
Subsequent Operations:
Show Unlocked:
Displays the total amount of unlocked stakes you have.
Show Reward:
Shows the total amount of staking rewards generated so far.
Unlocked Stake:
You can un-stake your current unlocked stakes using this button. After clicking the Unlocked Stake button, you need to confirm the transaction in MetaMask. All unlocked stakes will be un-staked.
Show Withdraw:
After clicking the Unlocked Stake button, you can see the staked amount and the total rewards earned here. The notification in the upper right corner will also show when it will be ready for withdrawal.
Withdraw:
Once the unlocked stake withdrawal period is over, you can use this button to withdraw your funds to your wallet after giving the necessary approvals. If you click the button before the period ends, you will see how much time is left in the upper right corner. You cannot withdraw before 7 days, but you can withdraw anytime after the 7 days have passed.
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