Community post
I need a CURATOR to explain the STAKING process
I have been thinking about what the STAKE button in my POB wallet means.
This has got me pondering and surfing the internet with little success but answers got are not related to the POB platform at all. I understand the dictionary meaning of STAKING but with what I see here, it is different from the way other crypto and trading platform gives percentage on investment APY. For example, ETH gives 6% interest per annum.
How much do I have to stake to begin?
How much interest will I get after each month of staking my POB?
What do I need to do to get started?
How much interest will a thousand (1000)POB generate if I stake it?
What if I am looking to purchase POB, where and how do I go about it?
If you have answers please help me by simplifying the process, thank you.....
Replies (5)
The more you stake, the more you make.
Staking is locking the coin up for 4 weeks. Once you have staked a POB token (or 1000), your upvote will now have value. New POB tokens are minted by a staker upvoting a post. You give whomever you upvote half of that inflation and you receive the other half.
So, to get a ROI on staking POB, you either have to curate and upvote (you get 10 full powered upvotes a day but can make many more lower powered votes before you lose all voting power) , you can also delegate your POB to a project that votes and gives you dividends (@amr008.pob is the best example I can think of), or you can follow someone else's curation trail on hive.vote and your POB power follows their vote. The latter 2 options are passive whereas the first option has you involved in the community. Your choice.
As far as APR, last week, @amr008's project paid 153%, which would be pretty close to what you would get if you manually curated.
I hope that helps.
I 100% upvoted you. I have 7200 POB staked. My vote is worth around 4.5 POB. So, in 7 days, you will get around 2.25 POB, and so will I. That is the best way to show you how it works.
Thank you so much, I think this was more explanatory 😆
You have said a lot and I understand everything you said. You have explained a whole lot and I’m sure that I’m not the only one this information is going to help. Thanks once again@allcapsonezero
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