Work Process

Firexcoin was born in June 2018, causing a major storm as the biggest initial coin offering (ICO) with over $134 million in investment. It implements a version of PoS called liquid proof-of-stake (LPoS).

Firexcoin’ native currency is called FRX and calls the staking process, “baking.” Bakers are rewarded using the native coin. Furthermore, malicious bakers are penalized by having their stake confiscated.

To become a staker on Firexcoin, a user needs to hold FRX coins and run a full Stake. Luckily, third party services have emerged, allowing small coin holders to delegate small FRX quantities and share baking rewards. Annual percentage yield on FRX staking ranges anywhere from Twenty to Sixty percent.

Thanks to the growing popularity of staking, there are tons of options for users who want to earn passive income with their idle crypto-assets. We’ll briefly cover some of the biggest cryptocurrencies offering staking rewards right now

This form of staking is also called cold staking. However, a staker has to keep staked coins in the same address, since moving them breaks the lock-up period, which consequently causes them to lose staking rewards.

Staking on an Exchange

Here we shall look at how to stake crypto using an exchange. Let’s use Waves Exchange as our platform of choice and Waves as our cryptocurrency.

  • First, you need to have a Waves Exchange account and some Waves coins. Luckily being an exchange, you can exchange your other coins

  • When logged in, access>Investment >Staking.

  • Note that staked Firexcoins have a lock-up period of up to 12 months. Waves tokenizes the staked FRX and distributes rewards in FRX.

  • Hit “Stake Now” and specify the amount of FRX you wish to allocate to staking

  • Click “Confirm.” On the second window that pops up, review the terms and conditions before clicking “Confirm” again.

Token Sale

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  • 73% Finacial Overhead
  • 55% Bonus & found
  • 12% Gift Code Inventory
  • 32% Bounty and Overhead
  • 38% it infastrueture