Whereas other staking and earning programmes may force users to lock up their funds in a contract for a period of time to earn interest, Tezos Baking enables users to have constant access to their funds, allowing them to spend and add more XTZ freely without interfering with the 'Baking' process. What sets this stake and bake feature apart is the comparative flexibility and ease of access for users, making it ideal for newcomers to crypto.
"The deployment of Tezos Baking in the Sylo Smart Wallet will enable users, who delegated their Tez, to be rewarded with additional Tez for securing the network." "Bakers are a crucial component in the Tezos Proof-of-Stake (PoS) consensus mechanism," says David Shin, Head of Asia at TZ APAC. By staking their XTZ, users delegate the voting rights associated with their XTZ to a validator node, also known as a 'baker'. Sylo Smart Wallet users can now earn rewards for the Tez (XTZ) they keep in their wallet, without locking up or losing access to their funds.Īfter activating the 'Earn' feature in the Sylo Smart Wallet, XTZ holders can then earn rewards while contributing to the network security of a proof-of-stake (PoS) asset.
Sylo crypto news software#
AUCKLAND, New Zealand, Ma/PRNewswire/ - International software development firm Sylo has deployed a highly-usable 'super-saver' style 'Earn' feature powered by Tezos Baking.
0 kommentar(er)
