FAQProBit Token (PROB) and membership levelsWhat is Staking and How to Stake Tokens on ProBit Global?

What is Staking and How to Stake Tokens on ProBit Global?

Published date: May 15, 2020 at 03:24 (UTC+0)

Contents:

What is Staking

Staking is the process of holding a specific amount of tokens in a staking wallet. Tokens that are staked are subjected to a specific lock-up period during which they cannot be unstaked and will not be available for use in any transactions (deposits, withdrawals, and trading are not allowed).

 

What is the Benefit of Staking

Staking is often used by traders as a way of generating passive rewards. Go to the staking page that can be found under the ‘Events’ section to see the list of active staking events and the tokens that can be staked. Possible rewards for each event will be displayed in the event box.

What is the Benefit of Staking PROB

ProBit token (PROB) staking is unique in that the specific amount of PROB held in the staking wallet determines the user’s VIP membership level at ProBit Global. Higher membership levels unlock benefits such as lower trading fees and eligibility for trading competitions.

How to Stake

  1. Go to the staking page that can be found under the ‘Events’ section to see the list of active staking events and the tokens that can be staked.
  2. Select the event you want to participate in.
  3. Make sure to read the event conditions and cautions on the left side:

  1. On the right side, enter the amount you want to stake, and select the Lock-up period. Depending on the event conditions, the longer the Lock-up period, the higher the rewards. The expected date to release the funds, as well as expected rewards will be displayed below.

★ During the Lock-up period, the tokens cannot be unstaked and will not be available for use in any transactions (deposits, withdrawals, and trading are not possible)

  1. Check the ‘I have read and agree with the cautions’ checkbox and click the ‘STAKE’ button.

Congratulations! Your tokens are now staked!

How to Unstake

After the Lock-up period is over, you will be able to unstake the tokens.

★ Even after the lockup is released, you must release the stake yourself before the amount is reflected in the ‘Available balance’.

  1. Go to the staking page that can be found under the ‘Events’ section, and find the event that you participated in.

  1. In the event page, the ‘UNSTAKE’ option will be available. Click the ‘100%’ button to enter the whole amount available for unstaking.

  1. Click the ‘UNSTAKE’ button. Your tokens will be returned to your available balance.

  1. The event reward may take up to two weeks to be credited to your account.

How to Stake PROB

To learn about how to stake PROB, refer to the below article:

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