HOW TO STAKE TESTNET $RWA
Xend Asset chain testnet is ongoing and staking is one of my favorite testnet activities. Let’s dive into the asset chain $RWA staking.
What is Asset Chain?
Asset Chain is a Layer 1 (L1) blockchain, similar to popular networks like Bitcoin, Solana, and Ethereum. However, Asset Chain is unique because it’s designed to bring a wide range of legally tradeable assets onto the blockchain. This means that traditional assets, like real estate, stocks, or even art, can be digitized and traded securely and transparently on Asset Chain, just like cryptocurrencies.
What is Staking?
Staking involves locking up your cryptocurrency or digital token for a certain period to support the network’s operations, like verifying transactions and maintaining security. In exchange for your contribution, you earn staking rewards.
These rewards are a form of passive income, given to you as a thank-you for helping the blockchain function smoothly. The more you stake, the greater your potential rewards, making staking an attractive option for crypto holders looking to earn extra income.
How to stake Asset Chain Testnet Token $RWA?
Staking test $RWA is a relatively straightforward process.
Make sure have some test $RWA tokens in your wallet. If you don’t, get started here.
Here’s how to stake your test $RWA tokens:
- Visit the Xend Asset chain staking website
2. Click “Connect Wallet” and connect your selected wallet.
3. Click on the “Stake” button.
4. Choose either flexible or fixed staking: flexible staking allows you to unstake and withdraw your tokens at any point while locked staking allows you to unstake and withdraw only after a fixed duration of 3/ 6/ 9/ 12 months.
5. Approve the transaction in your wallet.
How to unstake Asset Chain Testnet Token $RWA?
- Click the unstake button.
2. Approve the transaction in your wallet.
3. Your $RWA test tokens will be in your wallet instantly.
