Getting a Little Extra From Delegating/Staking

Getting a Little Extra From Delegating/Staking


 

     A few months ago, I had read of a simple method of increasing your gains by claiming to restake your lent assets. It was one of those things that is common sense but only after it is pointed out. If you are earning a percentage of $100 and then proceeded to increase said amount by $1. You will now be earning that percentage on $101, other than $100. The increase is miniscule when only seen as a single increase but as more gets added into your stake the more you'll receive as staked rewards.  

 

 

Pictured Above: Stacks on Stacks.. of (not crypto) coins.

Pictured Above: Stacks on Stacks!.. of (non-crypto) coins.

Visualizing your sitting earnings not making you anything.

 

 

Simply put, you will earn more from $101 than $100. More from $102 than $101, and so on.  

 

     There are many stories about exponential growth and they all end up with the same result, an INSANE amount of whatever it is that you started with. If only it was that easy to accomplish when it came to monies and currencies ~sigh.  

 

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     Well, a commonly used visualization of this is with a thought experiment about a grain of rice and a chessboard. Starting with a single grain of rice on the first square nearest to you, furthest on your left, and with each following square you double the amount of rice. The first quarter starts as you may expect and able to picture. It’s the second half where things get crazy because by that square you would have 2.1 billion grains of rice (or dollars if you want to be fun with it). According to math you would have around 18 quintillion!  

Edit: you open the CDCs DeFi Wallet App and select the earn option. Click on your already staked/lent asset, in my case CRO, selecting claim to rewards then there is an option that reads “Claim To Restake”, the text on that option reads “Compound Your Rewards By Increasing your Stake”. When done with CRO the commission fee is 0% and the network fee is .0002 CRO. Use this option to immediately increase your stake without unbonding.

     The process is quite simple, after a few days have passed you go into your staking app, I use CDC’s DeFi Wallet to delegate, enter the delegating/rewards page, and with the option to Claim to Restake, it was a no-brainer, at least afterwards e.e 

You are now earning more than you were before with little to no work! 

     I believe something we should all be doing, especially since the bonding period for withdraw is close to a month. It is an easy way to make use of those earned rewards, instead of leaving them to sit.  

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pssyEatnPreacher
pssyEatnPreacher

I believe that we are what we are in fault of our surrounding information and accrued knowledge. Everything I post is in hopes of expanding others imagination and perspective of life around them. (Will be updated..regularly?)


Crypto_Learn_With_Me
Crypto_Learn_With_Me

Just things I've noticed on cryptocurrency and purchase patterns . etc.

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