Earn 5–12% by Staking Your OmniCoin
Staking is a way to earn more OmniCoin with OmniCoin you already hold. You lock your coins for a time. In return, the network pays you rewards. That is the whole idea.
What staking is
Think of a shared safe that keeps the network running. The safe needs people to put coins in it to stay strong. When you add your coins, the network thanks you with more coins. This is called staking.
Your coins stay in your hands the whole time. You never give them away. You just agree to lock them for a while. When you do, they help confirm activity on OmniCoin, the network that powers OmniBazaar.
How much you earn
You earn between 5% and 12% a year, paid in OmniCoin. The exact rate depends on two things:
- How much you stake. More coins earn a higher rate, up to 9% a year.
- How long you lock them. A longer commitment adds up to 3% more a year.
Put the two together and the top rate is 12% a year. Most people land somewhere in the middle.
A real example
Imagine you stake 10,000 OmniCoin for a full year. At 7% a year, that is 700 OmniCoin in rewards. At 12% a year, it is 1,200 OmniCoin. Your coins stay yours. You just earn on top.
The catch, said plainly
This is not free money. Two things to know before you start:
- Your coins are locked. You cannot spend them while they are staked. You pick the length. The network keeps its word, and so do you.
- Early withdrawal costs you. If you pull your coins out before the lock ends, you pay a penalty. Plan to leave them for the full term.
Rates can also change over time. The 5–12% range is what the network offers today. It may move as more people stake.
Why people stake
Some people stake to earn more coins. Others stake because they believe in the network and want it to be strong. Both reasons are fine. The rewards are the same either way.
How to start
Open the OmniBazaar app and choose the amount and lock length that feel right to you. Start small if you like. You can see your reward rate before you commit.
Open the app — free, nothing to install.