How To Stake TRX (Tron) and Vote For Super Representatives

How To Stake TRX (Tron) and Vote For Super Representatives


Before I even start this article, I will admit that the Tron blockchain can be polarizing. Some people love it, and some people don't. Although I'm not here to say what blockchains you should or shouldn't use, I realize that staking cryptocurrency is increasing in popularity as a way of earning passive income. In this post, I'll show you how to stake your TRX and then used that staked TRX to begin voting for super representatives and earning passive TRX income. 

 

Staking Explained


With most other blockchains, staking is synonymous with earning passive income; if we stake Tezos, we automatically start earning more Tezos. But with Tron, this isn't necessarily the case. With Tron, you could stake $100 Million and not earn a single cent. In order to actually earn from staking, you must take things a step further and use your staked TRX to vote for super representatives. Only after you have taken your staked TRX and used it for voting will you be able to earn rewards.

Although staking in and of itself isn't sufficient to earn rewards, it is a necessary prerequisite. To stake your TRX, simply go to https://tronscan.io/#/wallet.  Once you are here, you can log in with your TronLink wallet and "Obtain" resources.

433854a91387d08f3930fd70ff52d522cccb60ef7b5ff2cabff37cc7c47024c7.png

I know it can seem confusing to see "Obtain Resources" instead of simply seeing the word "Stake", but once you click on "Obtain" you will have the option of freezing your TRX for Tron Power and that you must decide between Energy and Bandwidth. In general, Bandwidth is used as the fuel for normal, everyday transactions, whereas Energy is used more for interacting with smart contracts, but as far as simply staking and earning rewards, they are more or less the same. 

dc61f02d70548fabce587aac09864c2ed2bdbe1f949e2949cc8d40ffe7bbab5e.png

Voting Explained

Similar to the WAX blockchain, simply staking our TRX doesn't actually earn any kind of income at all. In order to earn that income, we must use our staked TRX to vote for super representatives. The super representatives can be thought of as the block producers (or guilds on WAX) that produce the next blocks. As a reward for our support, they share a portion of the block rewards with us. In order to vote, we simply go to https://tronscan.io/#/sr/votes where we have the option of clicking on the green "voting" box and selecting how we want to divide our voting power. 

8c9e4bee74440bbdb577edb7ad56a0962c68920a160ff0aaf59686181e384f34.png

After selecting the distribution, we click "voting" again which will ask us to sign the transaction with our wallet. With our staked TRX now being actively employed voting for super representatives, we will begin to see TRX accumulate in our account. In order to claim the rewards, we simply navigate to https://tronscan.io/#/wallet and click Withdraw. After signing the transaction we will receive our TRX. The APR depends on a variety of factors and can go up or down, but at the time of writing it is hovering around 6%.

91a3836cca69a7974a6719b6025da26f19aac5fb638b4c95992618e61d56dcf7.png

Conclusion

As with everything in cryptocurrency, different blockchains have different strengths and weaknesses, and a chain that works for some people might not work for others. In general, I prefer how Tron and WAX allow people to make "free" transactions simply by staking enough crypto. As an added benefit, that staked crypto can then also be used to earn passive income, so I consider it a win-win situation. Of course, it is always important to do your own research and nothing is financial advice. Thanks for reading. 

 

References

https://tronscanorg.zendesk.com/hc/en-us/articles/360041445672-What-are-Bandwidth-and-Energy

https://tronscan.io/#/wallet

https://www.publish0x.com/the-part-time-economist/wax-blockchain-tutorial-voting-for-block-producers-and-claim-xjojllj

 

How do you rate this article?


20

1

The Part Time Economist
The Part Time Economist

Hi everyone. I'm just a simple man trying to make my way in the universe. I am passionate about cryptocurrency and hope that I can make at least some small contribution towards promoting wider crypto adoption and understanding.


The Part Time Economist
The Part Time Economist

Hi everyone. This is just a place for me to post some of my thoughts and analysis. I hope that someone finds them useful.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.