How to Earn SKALE (SKL): A Step-by-Step Guide

Introduction

Lending SKALE can be a great option for those who want to hold SKL but earn yield. The steps can be a little daunting, especially the first time you do them. That's why we've put this guide together for you.

Step-by-Step Guide

1. Obtain SKALE (SKL) Tokens
In order to lend SKALE, you need to have it. To obtain SKALE, you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Binance SKALE (SKL) 0.01
BTSE SKALE (SKL) 0.01
Coinbase SKALE (SKL) 0.01
OKX SKALE (SKL) 0.03
Uphold SKALE (SKL) 0.02
Azbit SKALE (SKL) 0.01
See all 50 prices
2. Choose a SKALE Lender
Once you have SKL, you'll need to choose a SKALE lending platform to lend your tokens. You can see some options here.
Platform Coin Interest rate
Bitget SKALE (SKL) Up to 1% APY
Gemini SKALE (SKL) Up to 0.01% APY
Kucoin SKALE (SKL) Up to 0.5% APY
See all 5 lending rates
3. Earn SKALE
Once you've chosen a platform to earn your SKALE, transfer your SKALE into your wallet in the earning platform. Once it's deposited, it will start earning interest. Some platforms pay interest daily, while others are weekly, or monthly.
4. Earn Interest
Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Try to make sure your earning platform pays compounding interest to maximise your returns.

Platform	Coin	Price
Binance	SKALE (SKL)	0.01
BTSE	SKALE (SKL)	0.01
Coinbase	SKALE (SKL)	0.01
OKX	SKALE (SKL)	0.03
Uphold	SKALE (SKL)	0.02
Azbit	SKALE (SKL)	0.01

Platform	Coin	Interest rate
Bitget	SKALE (SKL)	Up to 1% APY
Gemini	SKALE (SKL)	Up to 0.01% APY
Kucoin	SKALE (SKL)	Up to 0.5% APY

What to be Aware of

Lending your crypto can be risky. Make sure you do your research before depositing your crypto. Don't lend more than you're willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.

Latest Movements

SKALE (SKL) is currently priced at $1 with a 24-hour trading volume of $25.01M. The market cap of SKALE stands at $227.6M, with 5.18B SKL in circulation. For those looking to buy or trade SKALE, Bitget offers avenues to do so securely and efficiently

Market cap: $227.6M
24h volume: $25.01M
Circulating supply: 5.18B SKL

See latest information

Frequently Asked Questions About SKALE (SKL) Lending

What is SKALE (SKL) and what problem does it aim to solve?: SKALE (SKL) is a scalable, modular blockchain network designed to empower Ethereum developers with high-throughput, low-latency sidechains. Each SKALE chain runs as an independent, customizable network that interoperates with the Ethereum mainnet, enabling dApps to achieve faster transactions and lower gas costs without sacrificing security. The core idea is to offload transaction processing from the Ethereum mainnet to elastic sidechains, improving scalability for decentralized apps, including gaming, DeFi, and NFT platforms.
How does SKALE’s architecture work and how are sidechains created?: SKALE uses a network of elastic sidechains that can be provisioned on demand. Developers deploy their applications on an SKALE node and select a sidechain configuration (e.g., throughput, gas price, and security level). Each sidechain operates with its own virtual machine and consensus parameters while remaining secured by the Ethereum mainnet via a cryptographic bridge. This modular approach enables independent scaling per application, reduces mainnet congestion, and allows project teams to tailor performance to their specific needs.
What is the current supply status of SKL and what does that imply for investors?: SKL has a circulating supply of about 6.06 billion tokens out of a maximum supply of 7 billion. This near-maximum circulation means most of the total supply is in circulation, which can influence liquidity and price dynamics. For investors, it’s important to consider turnover rate, staking or validator participation, and any future token emissions or unlock schedules that could affect scarcity. Always review the latest tokenomics from the project’s official sources for any planned vesting or unlock events.
How can I buy, store, and stake SKL securely?: SKL can be purchased on multiple centralized and decentralized exchanges that list the token. To store it securely, use a reputable wallet that supports ERC-20 tokens (since SKL typically adheres to Ethereum standards). For added security, consider a hardware wallet and enable active security practices (strong seeds, 2FA, etc.). Staking SKL may be available through SKALE’s staking programs or coordinated through validator networks. Staking can provide rewards while helping secure the network, but it often requires locking tokens for a specified period and understanding slashing risks for misbehavior.
What are the risks and potential rewards of investing in SKL right now?: Potential rewards include exposure to a scalable solution for Ethereum dApps, potential network effects as more developers adopt SKALE, and tokenized incentives for validators and users. Risks involve market volatility typical of crypto assets, competition from other layer-2 and sidechain solutions, and changes in Ethereum’s scalability roadmap that could affect demand for SKL-based solutions. Additionally, regulatory developments and project-specific milestones (like new integrations or partnerships) can drive short- to mid-term price moves. Conduct thorough due diligence and consider how SKLE’s fundamentals align with your risk tolerance and investment horizon.