January 9, 2024

Bifrost Wallet Introduces Staking on Flare Network

We are thrilled to announce our latest feature: Bifrost Wallet has officially launched support for staking on Flare Network! This much-anticipated feature is now available to all our users, providing an opportunity to earn passive income through staking rewards while contributing to Flare Network's security and efficiency.

We are excited for you to explore the new staking feature within Bifrost Wallet and are looking forward to your feedback. For detailed guidance on the staking process, please refer to our comprehensive step-by-step guide.

Staking overview in Bifrost Wallet

About staking on Flare Network

Flare Network is a cutting-edge blockchain network known for its unique approach to data on-chain. The Flare network is an inflatory blockchain where the inflation is rewarded to participants of the network. A participant is a user actively delegating to an FTSO or staking to a validator.

The inflation distribution is split up into two parts, 70% to the FTSO system and 30% to the validator system. This gives FLR holders an opportunity to earn passive income through two different systems.

There are a few things to consider before staking on Flare.

  • Minimum stake is 50,000 FLR
  • Minimum staking duration of 14 days
  • The selected validator needs to run an FTSO in order to be eligible for rewards
  • Staking to an overstaked validator will yield less income
  • A validator is considered overstaked if they have more than 5% of total stake
  • Rewards are available approximately every 14 days after a manual process by Flare Foundation
  • Rewards needs to be claimed manually

You can find a list of validators at flaremetrics.

Earn passive income with staking on Flare

Staking on the Flare Network through Bifrost Wallet allows you to lock in a portion of your crypto assets to support the network's operations. In return, you are rewarded with additional Flare tokens, increasing your total crypto holdings. With this feature, the staking process becomes more secure, user-friendly, and efficient for the community.

Reasons to stake with Bifrost Wallet

Security and Control: Our multi-chain self-custody wallet ensures that you have complete control over your assets.

User-Friendly Interface: Whether you're a seasoned investor or new to crypto, our platform is designed for ease of use.

Optimized Rewards: Staking with Bifrost Wallet allows you to maximize your passive income from crypto holdings with minimal effort.

Looking Ahead

At Bifrost Wallet, we are striving to enhance our platform and offer the best possible experience to our community. The introduction of staking on Flare Network is one of the many steps we are taking to ensure our users have easy access to the most advanced and secure crypto management tools in the market.

Thank you for your continued support and trust in Bifrost Wallet.

Happy staking!

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