Feyorra (FEY) Staking Overview
Feyorra is a layer 1 blockchain platform focused on Web3 and the metaverse. It is built on a high-performance consensus mechanism that can handle up to 100,000 transactions per second. It is also EVM-compatible, which means that Ethereum developers can quickly deploy their applications on Feyorra.
How to Stake Feyorra (FEY)
If you want to stake Feyorra (FEY) tokens, you can do so by following these steps:
Step 1 - Purchase Some FEY Tokens And Transfer Them To Your Wallet
First, you must have some FEY tokens in your wallet. You can get FEY tokens by mining them through wagering, providing liquidity on Uniswap, or buying them from an exchange.
You can also get some free FEY tokens from FaucetPay’s faucet distribution program. Once you have them, transfer them to your wallet. Some popular wallets that support Feyorra include WalletConnect, MetaMask, and Coinbase Wallet.
Step 2 - Connect Your Wallet To The Feyorra Staking Smart Contract
The second step is to connect your wallet to the FEY staking contract. You can find the contract address on the Feyorra website. You must use a web browser extension like MetaMask to connect your wallet to the smart contract.
Step 3 - Explore Staking Pools
Once you are connected, you will see the staking dashboard with different pools of FEY tokens. Each pool has a different percentage of tokens staked and an annual reward rate. You can choose any pool you want, but the higher the percentage of tokens staked, the lower the reward rate.
Step 4 - Start Staking Your FEY Token
To stake your FEY tokens, click the Start Staking button of the pool you want to join. You will see a pop-up window where you can enter the amount of FEY tokens you want to stake. You can also use the slider to adjust the amount. Click on Confirm when you are ready.
Step 5 - Approve The Transaction
Once you hit Confirm, you must approve the transaction on your wallet. This will allow the Feyorra smart contract to access and stake your FEY tokens for you. Once the transaction is confirmed, you will see your staked amount and expected return on the dashboard.
Congratulations, you have successfully staked your FEY tokens if you have followed all the processes! You can now enjoy the benefits of staking, such as earning rewards, getting discounts on fees, and advertising at partner websites.
Also read: Feyorra (FEY) Price Prediction
