Understanding Crypto Staking
Staking is a way to put your crypto to work and earn rewards on it. It is a great way to use your crypto assets to increase your crypto holdings, especially because some cryptocurrencies offer high-interest rates for staking. The staking process is carried out by Metaverse on behalf of the user. It’s like earning interest on money.
Benefits of Staking With Metaverse
First, the process is straightforward and secure. Staking rewards are given out to users monthly, in the supported crypto asset. The user only has to wait conveniently for the reward payout.
The whole staking process is carried out on behalf of the user securely and productively. We take great care to protect our users’ crypto assets against exposure to any additional risks. In turn, we charge a tiny fee from the earnings for operational costs involved.
Although Metaverse would be executing the staking process on behalf of the user, the user would continue to have 100% ownership of the crypto asset.
Who can receive staking rewards?
For a Metaverse user to be eligible to receive staking rewards, the following will have to apply. A user must hold any of the supported crypto assets on Metaverse. The positions need to have stayed open for a certain number of days. According to the blockchain network of the particular crypto asset, this may vary, as shown in the table above.
Every user can rely completely on our transparency throughout the staking process. This obliges Metaverse to give a precise rundown on how the calculation of the monthly entitlement regarding the distribution of rewards is done.
A daily snapshot of each user’s holdings is taken each day at 00:00 GMT. This shows each user’s eligible staking units for all of their open positions.
At the end of each month, the total of all the month’s snapshots is divided according to the number of days in the month, producing an average daily amount.
The average daily amount is the basic amount on which the calculations are made to get the individual user’s monthly reward. The monthly yield percentage per crypto asset is calculated, and then the applicable Club member percentage is added to the calculation.