Staking Zenon (ZNN) is one of the best ways to earn rewards while helping secure a decentralised network. Zenon combines both mechanisms to create a robust and scalable blockchain, unlike traditional cryptocurrencies that rely solely on Proof-of-Work (PoW) or Proof-of-Stake (PoS). By staking your ZNN tokens, you contribute to the network’s security and efficiency while earning rewards for your participation. Since Zenon eliminates transaction fees and enhances Bitcoin’s ecosystem, staking becomes even more attractive for long-term holders. But how do you get started with staking ZNN?
If you hold Zenon, staking allows you to actively support its network without complex mining equipment. You simply lock up your tokens in the PoS system, ensuring the stability of the network while earning passive rewards. Whether you’re new to staking or already familiar with PoS, understanding the process ensures you
How To Stake Zenon (ZNN)?
Staking Zenon (ZNN) allows users to lock up their tokens to support the network while earning rewards. By following the correct steps, users can ensure a secure staking process while maximising potential returns. Here’s how you can stake Zenon efficiently.
Download the SYRIUS Wallet
To begin staking, you must download the official SYRIUS wallet. Visit the Zenon Network’s official SYRIUS repository and download the latest version. The file you need is named syrius-alphanet-macos-universal.dmg. Always ensure you download the wallet from the official source to avoid security risks.
Verify the Checksum for Security
Verifying the checksum of the downloaded file ensures its authenticity. While this step is optional, it is highly recommended to prevent any risk of downloading a corrupted or tampered file.
- Visit the official SYRIUS repository and confirm that the URL matches exactly.
- Click on the Assets dropdown and download the SHA256CHECKSUM.txt file.
- Open the file and keep the window open to compare hash values.
- Open Terminal on your computer and enter shasum -a 256.
- Drag the SHA256CHECKSUM.txt file into the Terminal window and press Enter.
- Compare the generated hash value with the one from the SHA256CHECKSUM.txt file.
- If the values match, you can proceed with the installation.
Install the SYRIUS Wallet
Once the checksum verification is complete, install the wallet by double-clicking syrius-alphanet-macos-universal.dmg. An installation window will appear, where you need to drag the SYRIUS icon into the Applications folder.
To launch the wallet, go to your Applications folder and double-click SYRIUS. Ensure the wallet is running properly before moving forward.
Deposit ZNN Tokens into Your Wallet
Before staking, you need to deposit ZNN tokens into your SYRIUS wallet. You can acquire these tokens from supported exchanges and transfer them to your wallet’s deposit address. Always verify the transaction details before completing the transfer.
Choose a Staking Option
Zenon offers various staking options, allowing users to choose based on their goals and risk tolerance. Open the SYRIUS Desktop Wallet and click the gears ⚙️ icon in the top navigation menu. Under the Addresses list, select the address you wish to stake with.
Stake Your Tokens
To proceed with staking:
- Click on the Staking tab in the top navigation menu.
- Under Staking Options, select the staking duration and enter the amount of ZNN you want to stake.
- Use the Zenon Reward Calculator to estimate your potential earnings.
- Click on Stake to finalise the process.
Monitor Your Rewards
Once your ZNN tokens are staked, you can monitor your rewards through the wallet interface. Staked tokens generate QSR rewards, which you can periodically claim under the Stake Collection section. By regularly checking your staking status, you can manage your holdings efficiently while maximising returns.
Also Read: Where to buy Zenon
Popular Video Guides On Staking Zenon (ZNN)
Best Places To Stake Zenon (ZNN)
SYRIUS Wallet is the official wallet for the Zenon ecosystem, providing users with a secure and decentralised way to store and stake their assets. It is the only platform that supports Zenon staking, making it essential for network participants. The wallet operates on a non-custodial model, ensuring full asset control. It integrates advanced cryptographic security measures, offering protection against unauthorised access. Users can stake ZNN to contribute to network security while earning rewards. The wallet also supports seamless transactions and an intuitive interface, making it accessible for both beginners and experienced users.
Pros:
- Exclusive staking support for Zenon.
- Non-custodial design ensures full asset ownership.
- Strong security features protect user funds.
- User-friendly interface simplifies staking
Cons:
- Limited to Zenon staking, restricting asset diversity.
- Requires technical understanding for optimal use.
- Lacks support for multiple blockchain networks.
Benefits Of Staking Zenon (ZNN)
Staking Zenon (ZNN) is a great way to maximise your crypto holdings while actively contributing to the network. It allows you to lock up your ZNN tokens to earn rewards, enhance security and participate in governance decisions. Unlike trading, staking requires minimal effort, making it an attractive option for long-term investors. Let’s explore the key benefits of staking Zenon.
Strengthen the Network’s Security
By staking your ZNN tokens, you help secure the Zenon network and ensure smooth operations. Staked tokens play a crucial role in achieving consensus, verifying transactions and maintaining decentralisation. A stronger network reduces the risk of attacks and enhances reliability for all users. When more participants stake their tokens, the network becomes more secure and resistant to manipulation.
Earn Passive Rewards
Staking Zenon allows you to generate a steady stream of passive income. When you stake your ZNN tokens, you receive additional cryptos as a reward. These rewards depend on the amount staked and the staking duration. The more you stake, the higher your potential earnings. This passive income strategy is a great way to grow your holdings without actively trading.
Influence the Network’s Future Through Governance
Some staking mechanisms grant stakers governance rights, allowing them to participate in key decision-making processes. By staking Zenon, you gain the ability to vote on proposals, network upgrades and other important developments. This ensures that the platform remains community-driven, giving crypto holders a direct role in shaping its future.
Reduce Circulating Supply and Potentially Increase Value
When a large number of users stake their ZNN tokens, the circulating supply in the market decreases. With fewer cryptocurrencies available for trading, demand can increase, potentially driving up the token’s value. This mechanism benefits long-term investors who choose to stake rather than sell their holdings.
Minimal Effort and Easy Participation
Unlike active trading, staking Zenon requires very little effort. Once you stake your cryptocurrency, they continue generating rewards without requiring constant monitoring or management. This makes staking an ideal choice for investors who want to engage with the Zenon ecosystem without spending hours tracking market movements.
Frequently Asked Questions
Is It Safe to Stake Zenon?
Staking Zenon is generally secure if you use the official wallet or trusted platforms. To avoid scams, always rely on verified Zenon resources and avoid third-party services with unknown credibility. Ensuring proper security measures, such as using strong passwords and enabling two-factor authentication, further enhances the safety of your assets.
How Much Can You Earn by Staking Zenon?
The earnings from staking Zenon depend on multiple factors, including the staking reward rate, the number of tokens staked and the duration of staking. The longer and larger the stake, the higher the potential rewards. However, returns can fluctuate based on network conditions and the total staked supply.
What Are the Potential Risks of Staking Zenon?
Staking Zenon comes with risks such as price volatility, which can impact the value of your holdings. Additionally, some staking mechanisms include lock-up periods, restricting access to your tokens for a set duration. Understanding these risks before staking ensures informed decision-making and helps mitigate potential financial drawbacks.
Can You Withdraw Staked Zenon Anytime?
Yes, it is generally possible to unstake your Zenon tokens, but there may be conditions such as a mandatory waiting period or withdrawal fees. Some networks require a cooldown phase before funds become accessible again. Checking the specific unstaking rules beforehand helps in planning liquidity needs accordingly.
