Staking XEN Question

Crypto717

The idea of minting xen and the claim/staking it....convince me why I should do it.

I understand that you can always end your stake with no penalty but when you do...you lose your rewards and need to pay another Gas fee.

So regardless you are getting charged 3x for gas (when you mint it, claim/stake, and then claim at the end of the stake.)

Earthlysage

Well if you intend to hold your xen then staking is a very good option. I find that staking tokens makes me less emotional about price and the commitment to hodling will make the reward that much sweeter. Plus you can mint a stakexenft, which you could then sell!

grumpyJX

Earthlysage how can I mint a stakexenft? I have staked xen but I am not able to mint a stakexenft, and what is a stakexenft too? this is new to me!
This ecosystem is so vast that everyday I discover new things...

grumpyJX

I like to stake as I do not want to burn my current XEN holdings just yet. I prefer to have more firepower for the XEN 333 burn auction and burn my XEN then. If you want to burn or sell your XEN then staking does not make sense, but if you plan on holding, why not get a small bag increase while waiting

Earthlysage

With a vanilla stake, you can unstake with no reward, any time before your stake is up

With a stake xenft you can sell your stake, but you cannot end it early

Go to the xenft tab on xen.network and scroll to the stake section. Cheers 😉