Experience seamless earning with Onyx (XCN) staking pools on Earn Network. Get started quickly with our user-friendly step-by-step guide.

The partnership with Earn Network will see Onyx launch dedicated decentralized staking pools for XCN on BNB Smart Chain. Each user will have the opportunity to stake their XCN tokens using two formal staking processes, Flexible or Locked.

Flexible Staking describes a staking pool in which users can deposit and withdraw tokens at any time without any restrictions or lock-up periods. It offers flexibility and liquidity, with rewards distributed on a regular basis. Users can choose to compound their earnings by leaving their rewards in the pool or withdraw them.

Locked staking, also known as fixed-term or time-locked staking, involves staking tokens for a specific lock-up period. Onyx will offer two options here: 15-day and 30-day set staking periods. Users cannot withdraw their staked tokens until the lock-up period expires. In return for committing their tokens for a longer duration, participants typically receive higher staking rewards compared to flexible staking.

All of the ETH fees collected for bridging XCN from ERC20 to BEP20 will be refunded as part of the ongoing gas refund initiative. Onyx recently published an in-depth bridging article and will presently share further details regarding the staking process via Earn Network.

Onyx’s partnership with MyCointainer will also see a dedicated profile dashboard launched. This will serve as a central hub for all Onyx-related products on the platform. Other products under development include wallet integration, facilitating deposits and withdrawals of XCN processed on BNB Smart Chain, and a staking mechanism based on smart contracts operated by Earn. This will enable XCN rewards on the platform for thousands of potential users.

Onyx also intends to introduce ‘Buy XCN with card’ functionality, providing a MasterCard and Visa onramp for XCN, an XCN trading service offering pairs in EUR, USDT, and BTC, and extensive marketing activities. Keep an eye on the Onyx’s socials for the latest updates!

About Onyx Protocol

Onyx Protocol represents a decentralized liquidity protocol that supports multiple token types with aggregated and unified capital access. This protocol solves the capital efficiency trilemma and eliminates the single points of failure inherent in centralized protocols. Unlike other lending protocols, Onyx Protocol offers transparency and trustless lending, making it a better choice for digital asset holders to access and earn liquidity.

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About Earn Network 

Earn Network provides smart contract infrastructure to connect liquidity providers and pool creators in a completely non-custodial manner.

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About MyCointainer

MyCointainer’s goal is to enable easy access to various rewarding crypto mechanisms for all. They want everyone to equally benefit from a changing financial landscape and speed up global crypto adoption.

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SOURCE: ONYX BLOG

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Any project using the Avalanche C-Chain will soon be able to improve their product with yet another ‘no coding’ component – the staking solution provided by the Earn Network. Earn Network Building Staking Solution on Avalanche

The recent launch of the AvaCloud ‘no code’ launchpad will allow companies to bring web3 products to the market faster, cheaper and with much lower risk.

‘No code’ staking solution by the Earn Network

The Earn Network’s main objective is to provide blockchains with a convenient staking solution, reducing development time and costs associated with building the staking feature. This saves development time and costs related to building the staking feature.

Moreover,  when a project deploys a staking pool on Avalanche C-Chain it will automatically appear on Earn Network and MyCointainer platforms. Through those 2 channels the project gains instant access to over 145,000 users that are ready to participate in the staking pools.

The first pilot was already launched with the Decimal chain and currently any projects operating on the Decimal chain can deploy their own staking solution in under 1 hour.

Staking Solution on Avalanche blockchain

The Earn Network staking solution will allow any projects to simply deploy a custom staking solution via the simple interface. Below, you will see a simplfied deployment process of a ‘no code’ staking pool:

1. The pool Creator prepares offers that represent various plans for either locked or flexible staking.
2. The pool Creator can preview offers on their own Dashboard.
3. The pool Creator is able to manage and monitor the key metrics of the created pool.

Demonstrative user experience flows of the pool creation process

Conclusions

Staking-as-a-service is only the first step on the roadmap of the Earn Network. Currently, they estimate the delivery of their solution on the mainnet in July ’23. Lending and Compound Staking yield bearing capabilities will soon enhance the array of new services that are being developed by the Earn Network. Consequently, the Avalanche C-Chain will become one of the first beneficiaries equipped with the aforementioned services, continuing to strengthen its position as the top-tier Layer 1 blockchain.

About Earn Network

Earn Network provides smart contract infrastructure to connect liquidity providers & pool creators in a completely non-custodial manner.

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About Avalanche

Avalanche network is the blockchain industry’s quickest smart contracts platform digital asset. Avalanche is blazingly fast, low cost, echo-friendly Any smart contract-enabled application can outperform its competition by deploying on Avalanche.

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SOURCE: https://blog.earn.network/no-code-staking-solution/

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