Staking - Cardano (ADA)
Introduction
- On-chain staking utilizes the Proof-of-Stake protocol of applicable blockchain to generate rewards through a process typically called “staking”.
- Benefits of staking on MAX versus staking on other platforms:
1. ✓ Payouts once a week*
2. ✓ Generate predictable yield with crypto
3. ✓ Stake your crypto with a few taps from your MAX app
4. ✓ Unstake anytime**
Staking protocol
- Cardano is founded by Charles Hoskinson, to resolve scalability, interoperability, and sustainability. In Sep. 2021, Cardano launched Plutus - the smart contract platform on Cardano to facilitate the development of Dapp.
- oughly $13 billion are staked on Cardano or 70.55% in terms of staking ratio and ranked the 3rd based on staking market cap.
- Cardano now holds over 3000 smart contracts with over 3.5 million unique addresses on the blockchain.
- Audited by Root9b.
Yield
- Generated from PoS activities.
- The expected annualized return is specified on the staking page in MAX App.
- Yield is paid once a week on Mondays.
Risk
- Assets are subject to losses if the private key of the validator is compromised.
- Rewards could be less than expected if the blockchain protocol contains design defects.
Fee
We collect 10% of the yield generated for our users. Users are eligible for a zero staking fee if opting to be paid in MAX Token.
Processing Time
- *Staking processing time: 2 business days. Once completed, the stake will begin to accrue yield.
- **Unstaking processing time: 2 business days. Only the stakes with “staked” status are eligible for unstaking.
