Staking is one of the easiest and fastest ways to earn a passive income with cryptocurrency. When you stake a cryptocurrency, you are agreeing to lock a portion of your tokens away in a smart contract and once a minimum set period has expired, you can retrieve your tokens.
In return, the protocol pays out interest in the form of cryptocurrency rewards, valued according to a variety of different factors. Each protocol has its own rewards calculation system. There are many reasons why a network may encourage the staking of tokens, and the most common of these is to provide liquidity to DeFi applications such as decentralised exchanges.
There are many tokens available to choose from when it comes to staking - each offering different staking rewards and a range of varying methods and platforms.
As it can be difficult to find the best rates and offers on the market, to save you time we have compiled a list of three cryptos that offer unique and high-value rewards and interest rates: Shiba Inu (SHIB), PancakeSwap (PARO) and Parody Coin (PARO) .
Earn Multiple Passive Income Revenue Streams With Parody Coin (PARO)
When you stake Parody Coin (PARO) you can earn a passive income from three sources: the BNB chain protocol, and through ParoReward and Paroflection rewards from the Parody Coin ecosystem.
All fees for using dApps on the Parody Coin ecosystem are charged in Parody Coin (PARO) and these fees go to the treasury from which it is divided and distributed. 50% of the fees are redistributed to those who staked their Parody Coin (PARO), with 30% going to the liquidity pool and the remaining 20% being sent to the project’s burn wallet. This is the Paroflection model.
ParoReward is another way that you can earn high rewards for staking your Parody Coin (PARO), where some of the tokens staked by users are locked into a pool that provides liquidity for loan markets and pays dividends to stackers from a portion of the interest paid by borrowers.
Staking Is One Of Many Post-Launch Upgrades for Shiba Inu (SHIB)
Shiba Inu (SHIB) has come a long way since it launched in August 2020, developing from a meme coin that acted as a basic store of value, into a vast ecosystem supported by an active community of over half a million enthusiasts and developers.
The Shiba Inu ecosystem includes three different tokens (SHIB, LEASH, and BONE), the Shiba Incubator program, ShibaSwap, and more, and it is constantly growing.
Users can stake their Shiba Inu (SHIB) tokens on ShibaSwap, the official decentralised exchange of Shiba Inu, as well as on centralised exchanges like Binance to earn rewards. Holders of Shiba Inu (SHIB) can also earn additional rewards if they choose to burn their tokens through the Shiba Inu Burn Portal.
PancakeSwap (CAKE) is Increasing Yield Farming Rewards
The PancakeSwap (CAKE) community recently voted to pass a proposal on the network which would, in theory, offer greater incentives for holders to stake their PancakeSwap (CAKE), in addition to an increase in the number of tokens in circulation in the next three years, capped at a maximum of 750 million CAKE.
Currently, CAKE-CAKE is a liquidity pool that often offers high APY returns for staking PancakeSwap (CAKE). Staking PancakeSwap (CAKE) also enters token holders into a lottery pool with the chance to win NFTs.
The proposal puts forth the creation of three new tokens called vCAKE, bCAKE, and iCAKE to help boost the rewards for liquidity providers on the PancakeSwap platform.