Hello. In this article, I will talk about one of my favourite crypto projects, Elrond and recent development about it: Elrond Staking Process.
These days, Elrond begins a staking process that you can’t see in any other project around. This process, which will be available for a limited period, plans to provide participants with very attractive earning opportunities. This new staking process will begin with the support given by Binance, an Elrond working partner. What does this staking process promise us? Now let’s take a look at these specifics.
What are the staking steps?
● First, wait for Elrond’s official announcement for this process. It is about to happen.
● For the process, you must have a certain amount of ERD to participate in this activity in the first place. The Binance Exchange is the crypto market you should use to buy ERD, as this process is shaped by the support of Binance.
● Now, if you have a sufficient amount of ERD, all you have to do is withdraw these ERDs as the ERC-20 token to the appropriate wallet. The Binance Exchange offers an option for ERD withdraw. There you will be able to get your ERDs as ERC-20 tokens.
● You will then send your ERD tokens in the ERC-20 format in your wallet to the smart contract address where the staking transaction will take place via the special website that will be opened just for this staking process. This address will be announced by Elrond.
●That’s it. By joining this process you will be involved in a tremendously profitable staking process. So, why will it be tremendously profitable then? Let’s spare some time to explain it properly.
What does ERD staking promise?
★ First of all, let me specify the limits related to participation in the staking process. This is a process that will end when the number of ERD 5 billion (half of the supply in circulation) is reached in total staking process.
★ Also, the reward amount is limited to 400 million ERD.
★ When these figures are reached, staking participation will reach a stopping point.
★ The staking process will finish when Elrond mainnet starts.
★ Firstly, the participants are offered a 17% annual prize. The amount of this prize will increase regularly as the amount involved in staking increases.
★ For those who will join from the beginning will get more since a daily rate of 0.5% will be added to the calculated interest.
★ The annual reward rate of 17% for the participation amount of 0–1.25 billion will be 19% between 1.25–2.5 billion. The ratio, which is 21% between 2.5–3.75 billion, reaches 23% between 3.75–5 billion. Taking into account the daily add-on amount, the annual reward rate achieved might be 32% if all the calculated situations happen.
★For the sake of clarity, let me explain some numbers: If you have 1 million ERD and if the number of staking reaches the 5 billion staking target, you will earn approximately 20k ERD in 30 days. If your staking day is 60, the figure will be about 46k. And if you complete 90 days, your earnings will be approximately 80k ERD. 8% profit in 3 months! Pretty ambitious, isn’t it?
From the very first moment of rising, along with its wonderful name, Elrond project that caught my attention and this is another great move from it. The project, which has already won our hearts from the very beginning with their partnership with Binance, now offers a great opportunity for people who love and believe in it. I wanted to bring it to your attention immediately so more could have benefited from it!
Thanks for reading my article and enjoy your profit!
