Today I'm going to discus how to earn passive income on the wax network through the taco swap exchange/liquidity pools as well as just staking Taco(the main coin, Shing and Oni the other 2 coins Taco uses)
First off i will show you the exchange that Taco has built. If your familiar with the Wax Blockchain you will know its one of the easiest to use because there are no transaction fees. Instead the use a staking network. Where you Stake Wax to Cpu, Net, Ram. Cpu is the most important to stake WaxP on. Then ram, you dont need to stake much on the Net. But the more you stake on your Cpu The more transactions and the faster they go through. You Can make a free wax wallet here.
https://www.mycloudwallet.com/
Its pretty easy to learn and understand how to use the Taco exchange. Wax is the main Currency on the wax blockchain and you can earn AltCoins through most of the games you can play. Then you can exchange your AltCoins to wax with a small fee then reinvest your wax or send your wax to a coinbase or crypto.com wallet and exchange into USDC for cash. Some AltCoins you can earn on the wax blockchain taco doesn't support there is another exchange called Alcor.
Next i will show you the Salsa Staking. You Stake your Taco which you can earn in Other Taco Meal pools or the Salsa one Or purchase it using wax on the exchange above.
This ones pretty easy to understand. Just Stake your Taco on whichever coin you want to earn and each day you claim it. I pretty much go for the coin i want to earn the most or the highest APR. The APR fluctuates depending on the coins value at that time so just pay attention to it. Sometimes it changes drastically for better or for worse.
Now onto the Meal. Which is a Liquidity Pool. In this pool you either combine an AltCoin with Wax or 2 AltCoins and Each one has its own set of rewards.
First image is the highest Liquidity and the second one is highest APR. New pools are added all the time and most pools also put rewards back in even after the remaining days run out. They just extend them.
Just for context on how much you can earn I have 707 Wax and 17.5k Wombat staked. I earn about 76 wombat per day right now which equals about 4 wax per day. Nothing to crazy but I have not Invested real money into any of these pools I'm in. Ive Earned alot of wax through some of the games i play then just Exchange the wax for the coins I want to Invest in. The top person Staking in this pool earns 7205 wombat per day. About 290 wax passively at its current price of .0535 its about 14.5 Bucks. But i would just keep the wax until the next bull run. Before the massive crypto dip. Waxp was at 93 cents in november of 21'
Last is the Nft rewards that the pools offer. Just depending on how many daily rewards they are offering you have a chance to earn it. some offer 1 reward per day some offer 10 so its just the luck of the draw.
https://swap.tacocrypto.io/swap
The Waxp blockchain is a pretty big ecosystem of NFTs, Games and and Passive income. Taco offers more then just the Swap Liquidity pools but ill save the other parts of Taco for another time.
