Introduction
Staking zkVerify can be a great option for those who want to hold vfy but earn yield in a safe way while contributing to the network. 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 zkVerify (vfy) Tokens
In order to stake zkVerify, you need to have it. To obtain zkVerify, you'll need to purchase it. You can choose from these popular exchanges.
2. Choose a zkVerify Wallet
Once you have vfy, you'll need to choose a zkVerify wallet to store your tokens. Here are some good options.
Platform Coin Staking rewards Stakin zkVerify (vfy) Up to 2.5% APY Rates as listed by providers on Aug 16, 20263. Delegate Your vfy
We recommend using a staking pool when staking vfy. It's simpler and faster to get up-and-running. A staking pool is a group of validators who combine their vfy, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet's interface.
4. Start Validating
You'll need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you'll automatically validate transactions on the zkVerify network. You'll be rewarded with vfy for these validations.
What to be Aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
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