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  • Intro. of Gyrowin
  • Overview
    • πŸ’‘Mission & Vision
    • πŸ’°Tokenomics
      • Freeze Lock
    • πŸ’ΈRewards
    • πŸ“ˆRoadmap
    • 🌏Trust in Gyrowin
    • 🎊Gyrowin Compensation
  • PRODUCT
    • βš™οΈGyrowin API
      • Draws API
  • UTILITY
    • 🏑Evergreen Plant
      • Early Conversion Fee
      • Early Redemption Fee
    • ☘️Money Plant
    • Lending
    • Borrowing
    • PlantMe Wallet
  • GAME
    • πŸ’΅Lotto Game
      • Chainlink VRF
      • How to check VRF number?
  • BEGINNERS GUIDE
    • πŸ“ŽWhat is DeFi?
    • πŸ“ŽWhat is staking?
    • πŸ“ŽWhat is LP staking?
  • Terms & Policy
    • πŸŒ–Gyrowin APIs Terms of Service
  • About
    • πŸ”΅Team
    • 🟒Smart Contracts & Audits
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  1. BEGINNERS GUIDE

What is staking?

Last updated: 2024-01-15

In the cryptocurrency world, staking is a method of earning rewards by holding specific cryptocurrencies for a set period to support the ecosystem’s operations.

Staking functions similarly to depositing money into a savings account at a bank: the bank lends out your deposits, and you earn interest on your balance.

However, unlike savings accounts, non-stable coins can experience price fluctuations. This means you may incur a loss if the coin’s value declines more than the rewards earned through staking.

For example:

  • Non-stable coins: BTC, GYROWIN, ETH, etc.

  • Stable coins: USDT, USDC, FDUSD, etc.

Staking can provide substantial returns but carries risks due to the potential volatility of non-stable coins.

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Last updated 6 months ago

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