NEO Credit Token (NRT) staking is available on myneodash.com and NEO X. Users can lock a minimum of 1 000 NRT and a maximum of 100,000 NRT. Users receive rewards in the same currency they stake via their NEO Credit wallet.
Moreover, the NRT staking provides users option to lock their crypto-assets for 12 or 24 months. Participants receive interest rates on their locked tokens depending on their chosen lock period. Users can also choose to compound their locked tokens, where rewards can reach up to 24,47% a year.
Staking is a crypto-earing concept. Unlike traditional banks where customers savings gives a flat income, staking gives crypto lovers the option to lock their assets for a period of time to receive a bounty reward.
- The size of a stake is directly proportional to the chances of that node being chosen to forge the next block.
- If the node successfully creates a block, the validator receives a reward, similar to how a miner is rewarded in Proof-of-Work (PoW) chains.
- Validators lose part of their stake if they double-sign or attempt to attack the network.