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Multi-Asset Staking: What You Need To Know

The multi-asset staking system is referred to as multi-asset reward staking. It is a PoS consensus that allows you to lock cryptocurrencies in your wallets and earn rewards in multiple crypto assets. Those crypto-assets can be easily exchanged in decentralized exchanges (DEX) with smart contracts after withdrawal. 

In general, DeFi exchanges offer governance tokens that allow you to join stake pools. These native tokens are cross-chain, which means that you can swap them between blockchains. For instance, you can convert ERC-20 tokens to BEP-20 tokens easily and instantly. 

Staking/Liquidity Pool? 

A staking pool is a way for crypto holders to combine their assets so that they can provide funds to validate transactions. By combining resources, these investors bring more liquidity to the network. Voting rights are also shared accordingly with liquidity providers. Rewards and interests are also equally distributed proportionately. 

As staking pools take a long time to set up and maintain, most networks looked for convenient blockchains to gain ample backing. The Binance Smart Chain (BSC) is one of the most supportive of these blockchains. Through a blockchain smart contract, BSC provides funds to incorporate innovative protocols into these networks, striving to push the DeFi ecosystem to new heights in the process. It was this blockchain proposal that gave rise to the CeDeFi trend, which is gradually gaining steam in the crypto community. 

The DeFi exchange has introduced multi-asset staking in order to reward investors through a wider range of crypto assets, such as Bitcoin, Ethereum, and Litecoin. When you provide liquidity on such an exchange, you are eligible to earn cross-chain rewards from the platform. 

With multi-asset staking, it is even more beneficial to both parties since it is a more conservative and energy-saving protocol that is used by investors to not only support the network but also themselves. If you are a newbie to PoS consensus and would like to diversify your earning portfolio, you should consider starting with multi-asset staking platforms like DIFX. Using this method, you will be able to protect your assets against potential inflation and financial security risks. 

 

Stake and Earn, Watch Your Wealth Grow

With staking, you can earn rewards for securing your cryptocurrency on the blockchain network. This process generates passive income, allowing you to grow your wealth.

Start Staking