Earn rewards from your LUNA, MATIC & GRT easily with NDAX Stake.
NDAX is thrilled to announce that Canada’s first flexible crypto staking program is adding a variety of new coins. Terra (LUNA), Polygon (MATIC), and The Graph (GRT) are now available to stake with NDAX.
If you are looking to generate rewards through crypto, staking is a great way to do so! A variety of concepts in crypto can be complicated in theory, but simply put, NDAX Stake empowers users to easily earn crypto rewards by having a long-term mindset with their digital assets! And best of all, we make it easy to set up your staking plans in a matter of seconds!
NDAX users staking Ethereum, Polkadot, Cardano, Terra, Polygon and The Graph holdings will earn competitive Annual Percentage Yields (APY), and can also choose to unstake their crypto at any time.*
For more details on NDAX Stake and all applicable coins, including APYs, payout frequencies, and lock-up periods, see our staking table below.
What is Staking?
Staking is the process of actively holding digital assets and participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. it allows investors to hold assets and receive crypto rewards with frequent reward payouts.
NDAX Stake allows Canadians to stake their digital assets while being able to easily manage and monitor their staking subscriptions and profits over time. With NDAX, there are no lock-up periods and our clients can exit from their staking positions anytime (with the exception of ETH*).
Terms You Should Know:
- Asset: The digital asset available for staking.
- APY: The estimated amount of interest earned from staking your asset annually.
- Bonding Period: Refers to the time between when a user actively has their asset staked and starts earning rewards.
- Duration: The amount of time your assets will remain staked in the pool.
- Exchange Limit: This refers to the staking pool availability and how many more assets are still available for staking in the NDAX pool.
- Minimum amount: Minimum number of assets required to start a new staking subscription plan per coin.
- Pay-out frequency: How often staking rewards are earned.
- Redemption policy: There are two main ways to redeem rewards through staking:
“Standard Redemption” means that your opt-out is delayed for the period of time indicated in the above table, but you collect any rewards generated up to and including generated within the reward period.
“Instant Redemption” means that your opt-out is effective immediately, but you are not entitled to any rewards generated within the reward period.
Daily or Weekly: No staking rewards would generate within these periods.
Monthly: You will lose [N%] of the total rewards generated within this period.
- Unstaking period: the time between when a user chooses to unstake and when the assets are returned.
How does earning rewards with NDAX Stake work?
When you stake your digital assets with NDAX, for an allotted period of time, you automatically earn crypto rewards, which can be redeemed at different periods depending on the coin and staking plan. Different coins offer different reward payout frequencies.
NDAX offers staking subscriptions for the following digital assets:
- The Graph
On a regular basis, NDAX will be announcing more coins available for staking. Stay Tuned.
Benefits of Staking with NDAX
The main benefit of staking is the rewards. You can earn a steady flow of passive income even if you only hold a small amount of crypto. In addition, the barrier to entry is low, and you don’t need any expensive, complicated equipment to get started.
Interest rates on staked coins can far exceed rates you’d typically see in a bank savings account. For example, it’s not uncommon to find annual rates between 5%-20% for most major staking coins.
By staking with NDAX, you’re not just earning rewards for yourself. You’re also contributing to the security and trust of the entire network. Staking funds contribute to increases the efficiency of the blockchain and providing more verification points to process accurate transactions. It’s a great way to support the projects that you believe in.
Risk of Staking
Staking returns may be attractive, but staking comes with its own set of risks that you should be aware of before participating in a staking pool.
- Lock-up periods: Certain staking assets, such as Cosmos or Tron, have mandatory lock-up periods. During this period, you’re unable to access your staked assets, resulting in potential losses if the price drops significantly during the locked period.
- Cyber attacks on exchanges: There is always a chance that hackers will attack the platform or wallet you’re using to stake your assets. Or, scammers might target you individually and try to trick you into giving up your private keys. So make sure you brush up on crypto security best practices and only stake your assets on reputable platforms.
- Price fluctuations: Cryptocurrency is notoriously volatile. Even if you’re getting high APY rates on your staked assets, you’ll be left with a loss overall if the price of your staked asset takes a nosedive.
- Liquidity: Many smaller altcoins attract participants to their staking protocol with the promise of high-interest rates. However, if this altcoin has low liquidity on exchanges, you may find it challenging to sell your assets or exchange them for bitcoin or stablecoins.
- Validator risks: If you want to run your own node and receive regular rewards for validating the network, it requires advanced technical expertise. In addition, if your node goes offline or you validate incorrect information, your stake could be ‘slashed,’ which means you would lose a share of your stake.
- Customers can view coins available for staking and manage their subscriptions by going to the Staking section of their NDAX dashboard.
- APY% is an estimate that is adjusted daily based on the on-chain staking rewards and subject to the digital asset's specific annual percentage yield.
- The minimum lock-up period per digital asset & dedicated reward payout frequency is set by each digital asset.
- Bonding period refers to the time between when a user actively has their asset staked and starts earning rewards.
- Unstaking period refers to the time between when a user chooses to unstake and when the assets are returned back. - *ETH and ETH staking rewards will be locked until the completion of the Ethereum 2.0 network transition. The transition may need months and may never occur, and NDAX has no control over this process.