Stake your $YUNA Token. (There is only one official $YUNA dezentralized Application:). yunatoken.

21 Jun 2023, 09:37

Stake your $YUNA Token (There is only one official $YUNA dezentralized Application:) 👇👇👇👇👇👇👇 dapp.yunatoken.io 👆👆👆👆👆👆👆 1. What does it mean to stake your $YUNA? If you "stake" your $YUNA Token, you join a process where holders "stake" their cryptocurrencies in a specific wallet or platform (wallet in case of $YUNA) to support the operations of a blockchain network and earn Rewards in return. It is a way to actively participate in a proof-of-stake (PoS) consensus mechanism used by Ethereum, which is an alternative to the proof-of-work (PoW) mechanism used by cryptocurrencies like Bitcoin. If you stake your $YUNA, you will be "selected as a validator" to create and validate new blocks on the blockchain based on the amount of your staked $YUNA Token. Therefore you contribute to the security and stability of the network and, in turn, receive Rewards. 2. Staking on YUNA's dezentralized Application (dApp): 2.1 Contract Approval: YUNA's dezentralized Applikationen requires holders to approve the contract before staking. This contract approval step ensures that the user grants permission for the website to interact with their wallet and handle their staked funds securely. It is a common security measure to protect holders assets. Additional to the Ethereum Gas Fees this approval step costs a fee of 0.005 ETH which is the absolut minimum for staking. 2.2 Staking/Unstaking: You can stake your $YUNA Token with the "+" Button and unstake your $YUNA Token with the "-" Button. 2.3 Lock Periods: YUNA's staking dApp offers lock times of either 7 or 28 days. When you decide to stake you $YUNA, you commit to a predetermined lock period during which your funds cannot be withdrawn or transferred. This lock period helps to ensure the stability of the network by discouraging holders from constantly moving their funds in and out of staking. In situations where the expiring timer is not shown on YUNA's dApp, you can always check the staking details, including the time you staked your $YUNA, on etherscan.com. Etherscan is a widely used blockchain explorer for the Ethereum network, which allows holders of Ethereum and their altcoins on its blockchain to view transaction details, contract interactions and other relevant information on the blockchain. By referring to etherscan, you can verify the staking activity and track your staking history, even if the timer is not explicitly displayed on YUNA's dApp. 2.4 Harvesting while your $YUNA Token are locked: If you harvest your Rewards during the lock period, the lock period will reset. Harvesting refers to the process of claiming and collecting the Rewards earned through staking. By resetting the lock period, YUNA's dApp incentivizes users to keep their funds staked for a longer duration, contributing to the network's security and stability. 2.5 Staking more $YUNA while already staking $YUNA: The Rewards are automatically harvested and the lock period resets if you decide to stake more while you've already staking $YUNA Token. This feature encourages holders to increase their staked amount and actively participate in securing the network. By automatically harvesting rewards and resetting the lock period, YUNA's dApp simplifies the process for holders, ensuring they can maximize their staking Rewards without manual intervention. 2.6 Issues with staking, unstaking or harvesting your $YUNA: When you try to stake/unstake your $YUNA Token or want to harvest Rewards, using a wallet's built-in browser instead of an independent browser (Safari on iOS, Google Chrome or FireFox) may cause problems. To troubleshoot, try clearing your browser's cache and history, then reload the page. This can resolve conflicts or glitches. Furthermore it's always recommended for security purpose, for the sake of simplicity and to prevent issues to sign up on YUNA's dApp on a Pc directly with your wallet in case of Metamask or WalletConnect. Sometimes if you try to stake the maximal amount, the transaction might fail. In this specific case, delete the last digit and add a zero.