How To Stake Shiba Inu On Trust Wallet
By reading the article “How To Stake Shiba Inu On Trust Wallet” published in Adaas Investment Magazine, you will get acquainted with how to stake your Shiba Inu tokens on the Trust Wallet with the help of ShibaSwap in general. This level of familiarity can be enough when you need educational information about this topic.
Table of Contents
Stake Shiba Inu On The Trust Wallet
Before starting the training, it is better to know that the process of staking in the ShibaSwap exchange is very simple. To get started, you need to store Shiba Inu tokens in your trust wallet.
First, we enter the ShibaSwap website and at the top of the page, we connect our trust wallet, which contains Shiba tokens, through the Connect Wallet option.
After successfully connecting the wallet, select the Bury option in the ShibaSwap exchange. As shown in the image, this option has been developed for the STAKING process.
In the ShibaSwap exchange, SHIB, LEASH, and BONE tokens can be staked and the reward ratio is different for each. In this tutorial, we will select the SHIB option, which is for Shiba Inu tokens.
Then we enter the amount of tokens we want to stake in the specified field. You can also select one through the percentage options, and finally, by clicking on the Approve button, you will be directed to the transaction fee payment page, which begins after the payment process of the Shiba tokens staking process.
Withdraw staked tokens
Withdrawal of staked tokens is a time-consuming process and can take up to a week. To do this, we first connect our wallet, and then through the Burry option, in the part where we entered the number of tokens for the STAKING process, we click on the Unstake option so that we can get the amount of tokens that we want to withdraw.
Staking process in ShibaSwap
The token staking process means providing digital assets to provide liquidity to the liquidity pools in exchange for receiving part of the transaction fee from the platform.
In this decentralized exchange, 3 cryptocurrencies can be used:
- SHIB token
- LEASH token
- BONE token
All of these currencies belong to the Shiba Inu ecosystem.
By staking (BURY) SHIB tokens, users will be rewarded with XSHIB tokens, and the same process will provide XLEASH rewards for LEASH tokens and XBONE rewards for BONE tokens.
Users will receive SSLP tokens through the process of providing liquidity, known as DIG in ShibaSwap Decentralized Exchange. Thus they receive Shib-eth sslp for the SHIB token, Leash-eth sslp for the LEASH and Bone-eth sslp for the BONE token.
ShibaSwap’s decentralized exchange development team claims that the rewards received via SSLP can be more than double the BURY process.
The end words
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The development team of this exchange claims that they are trying to build the best decentralized financial ecosystem and the ShibaSwap exchange is a part of it.
Yes, you can add metamask, trust wallet, coinbase wallet, and other popular wallets to ShibaSwap.