Do you know about our PoS service?
Proof of Stake is one of the methods of obtaining passive income by staking tokens.
There are a lot of POSes on our exchange (you can find the list of all after logging into your Kanga account → in the PoS tab → after selecting the “all” filter).
In return for storing crypto on an individual PoS account, the user receives a daily reward.
How does PoS work and why is it more profitable than, for example, a traditional bank deposit?
There are three types of PoS that determine the specificity of their working and obtaining funds for awards.
1. Fixed price (reward) PoS provides a fixed daily reward of X amount of given crypto for each XYZ token.
Fixed price PoSes available on Kanga Exchange:
- APIS Proof-of-Stake (APIS)
- BOM Proof-of-Stake (BOM)
- CAN1 Proof-of-Stake (CAN1)
- Copernic 1 (COP1)
- Copernic 2 (COP2)
- Copernic 3 (COP3)
- JPW21 Proof-of-Stake (JPW21)
- JT1 Proof-of-Stake (JT1)
- Mosaico Wrap (wMOS)
- Six Seasons Distillery (6SD1)
- Smart Electrum (SELECT)
- TOS1 Proof-of-Stake (TOS1)
2. In Standard PoS the amount of the daily reward depends on the prize pool, which is distributed proportionally between all deposited tokens.
Standard PoSes available on Kanga Exchange:
- AirDance (DANCE)
- Mosaico Proof-of-Stake (MOS)
- PayB (PAYB)
- METAHERO (HERO) – disabled
- FAME MMA (FAME)
3. In Lend PoS the deposited tokens can be used in accordance with the project objectives. The amount of the daily reward depends on the prize pool, which is divided proportionally between all deposited tokens.
Lend PoSes available on Kanga Exchange:
- Kanga Liquidity oEUR (oEUR)
- Kanga Liquidity oPLN (oPLN)
- Kanga Liquidity USDT (USDT)
Staking KNG tokens allows you to participate in profits from transaction fees charged on the Kanga Exchange platform. Each holder of KNG tokens can deposit them on an individual PoS account and receive a reward proportional to the amount of the deposit. While the bank’s interest rate is constant, predetermined and (let’s face it) quite small, our daily PoS rewards, depending on the income generated by Kanga, can be surprisingly high!
On the PoS Liquidity account, we can keep oPLN (Kanga’s stablecoin) and USDT. The collected funds are used to support the liquidity of key services for Kanga Exchange and to support the liquidity of decentralized exchanges on which our token is or will be listed.
The amount of the daily reward also depends on the specificity of a given type of PoS, however, it is worth mentioning that the key factors affecting it include:
- sum of tokens deposited by all PoS users
- and a total award received by Kanga on the previous day from using the deposited funds.
Why is staking KNG profitable?
KNG tokens staking is attractive at least because of the growing daily interest rate. After turning on the autotransfer function, the user starts with a guaranteed interest rate of 0.3%, which changes everyday to higher and higher!
How to deposit funds to PoS?
- Log in to your Kanga Exchange account and navigate to the PoS tab.
- In the Transfer box, select Deposit to PoS from the drop-down list.
- Enter the token amount you wish to deposit in the field below.
Click the MAX button to deposit the entire available balance of the chosen token.
- Click Transfer.
- A pop-up window will open, showing a summary of the operation and the time after which the tokens will be unlocked. Make sure the amount displayed is correct, then confirm the deposit by clicking the Transfer button.
- The transferred amount will be immediately deducted from your wallet balance. Until it’s unlocked it will be visible in your PoS account under “Incoming”.
Details on the functioning of the PoS mechanism can be found in our guide.
Ready to earn money without any extra effort? Transfer your funds to PoS today and enjoy passive income!