Staking Platform

RECORDIAN Staking Platform

Cryptocurrency staking has emerged as a popular and rewarding investment strategy. Staking involves locking up crypto tokens in a smart contract on a blockchain network to actively participate in creating sustainability and earn rewards in the form of the same or different tokens.

How Single-Side Staking Works: A Simple Explanation

To stake crypto tokens in a project, users must first choose a staking pool or platform that supports their desired token. Once the token is deposited into the staking contract, it is effectively "locked" for a predetermined period, during which it cannot be freely withdrawn or traded. The length of the staking period may vary depending on the project's rules, ranging from a few days to several months or longer.

During the staking period, the staked tokens contribute to the sustainability of the currency, as a result, token holders are actively involved in supporting the project's growth over time.

Earning Rewards: The Incentive to Stake

One of the main attractions of staking crypto tokens is the opportunity to earn rewards. The rewards are typically distributed among stakers proportionally to their stake, incentivizing users to hold and contribute to the project long-term. The rewards may be issued in the same token that is being staked or a different token, depending on the project's design.

The Benefits of Staking in Crypto Projects

Staking provides an avenue for token holders to earn passive income by simply holding and locking up their tokens, without the need for active trading or complex mining equipment.

By staking tokens and reducing their circulation, stakers contribute to a decrease in token supply, potentially driving up the token's value through increased scarcity.

Staking rewards incentivize long-term commitment to the project, fostering a strong and loyal community of token holders.

Emergency Unstaking

Unstaking refers to the process of removing or withdrawing staked tokens from a staking platform or smart contract.

Unstaking allows users to retrieve their staked tokens before the agreed-upon staking period ends. By initiating the unstaking process, users can reclaim their tokens from the smart contract, making them available for use, transfer, or trading once again. However, it is essential to note that some staking platforms may have penalties for doing so, specific unstaking periods or require a cooling-off period before the unstaked tokens become fully available, ensuring the stability and security of the network.

Claiming rewards

Users can claim rewards when a locking / staking period is completed or by using the emergency end stake option if the staking platform provides such an option. The staking contracts are typically immutable and cannot be altered by any admin functions.

RECORDIAN STAKING PLATFORM

RECORDIAN’s Single Side Staking platform offers our users an opportunity to earn additional $RMUSIC tokens by staking their $RMUSIC tokens, which also contributes to the growth and stability of the network.

This innovative staking solution empowers our community members to stake $RMUSIC tokens for different durations, ranging from 3 to 12 months, with each option providing a progressively higher Annual Percentage Rate (APR). This incentivizes users to engage in long-term staking, fostering a strong and loyal community committed to the long-term success of RECORDIAN.

Staking Process

Participating in Single Side Staking is a seamless and straightforward process. To begin, users need to connect their wallets to the RECORDIAN staking platform, ensuring they have enough $RMUSIC tokens available for staking. Once connected, users can select their desired stake duration from the available options.

Next, users will input the amount of $RMUSIC tokens they wish to stake and confirm their selection. To proceed, users will need to approve and confirm the transaction in their wallet. Upon successful processing of the transaction, the staking details will be displayed in the bottom section of the screen, providing users with complete transparency and control over their staking activities.

Completed Stakes

Once the staking period is completed, users can effortlessly claim their staked tokens.

The process involves the user connecting their wallet and selecting the "Claim" option. After approving and confirming the transaction, the staked tokens along with any earned rewards directly into the user's wallet.

RECORDIAN’s Single Side Staking platform is a testament to our commitment to building a thriving community, offering attractive rewards for stakers while enhancing the overall stability and growth of the RECORDIAN ecosystem.