Token Stayking Overview
Stayking gives XRPL users the ability to passively earn a variety of rewards from just holding their favourite tokens in their self-custodial Xumm wallet.
StaykX users are able to Stayk in various pools, passively earning a variety of rewards from a variety of different projects. Rewards are distributed daily directly into user's Xumm wallets, and all Stayking preferences can be viewed/set through the StaykX website. For all those who hold XRPL tokens and want to passively earn on their diamond hands, StaykX is for you. In order to create a viable staking solution for the XRPL we had to adopt what we call ‘Soft-Stayking’, this is due to there currently being no smart contract functionality on the XRPL. Using StaykX’s Soft-Stayking technology, we are constantly reading user’s wallets to confirm the amounts they are Stayking and earning rewards on. This means that unlike in other staking methods using smart contracts or a centralised lockup, the tokens will ALWAYS stay in the user’s wallet, and gives the user full responsibility on their Stayking period, never locking them into something that may be unfavourable in the future or cause them impermanent loss. Increasing the amount of security and peace of mind for the user, knowing they always have full control over their digital assets, even when Stayking. As a wise man once said;
Not your keys, not your crypto.