Q: Can I set up a recurring purchase on an active stake?

We are developing the “recurring purchase” feature for staking. The feature will be available in December 2024.

Q: Do rewards vary based on the staking duration?

No, the duration of staking doesn’t directly affect the rewards. The yield is determined by the APY (Annual Percentage Yield), which depends on the protocol and is updated daily. Ethereum (Liquid Staking): The APY is calculated as the average of the last 30 days provided by the Lido provider.Solana: The APY reflects the rate recognized by the network to validators at that specific moment. While time doesn’t change the APY itself, it is crucial because the yield is calculated on an annual basis. The longer your assets remain staked, the more proportional rewards you’ll receive over time. For Ethereum Liquid Staking, compound interest is also applied. This means that the rewards you earn are automatically staked again, increasing the total capital on which the APY is applied, thereby boosting your potential earnings over time. Other factors that influence reward growth include injecting new capital. For example, creating new stakes every month or week for the same cryptocurrency can enhance your total earnings, as rewards are calculated by applying the APY to the staked amount, and in the case of Liquid Staking, this is further compounded by the effect of compound interest.

Question 1

Can I use the cryptocurrencies I have in my Moneybox for staking?

Accepted Answer

No. The staking amount can only be transferred from the Spot Wallet. Therefore, if you want to use the cryptocurrencies stored in your Moneybox, you must first move them to the Spot Wallet and then stake them.

Question 2

Is staking available on Young Platform Pro?

Accepted Answer

No.

Question 3

What are the minimum and maximum amounts for staking?

Accepted Answer

Yes, on Young Platform, the minimum and maximum amounts for staking are as follows:

Ethereum (ETH): Minimum 0.02 ETH; Maximum 3 ETH per single stake.Solana (SOL): Minimum 0.3 SOL; Maximum 75 SOL per single stake.

Note: If you wish to stake larger amounts of ETH or SOL, you can create multiple separate stakes using the same cryptocurrencies.

Total Maximum Amounts

Ethereum (ETH): Total maximum amount in staking: 300 ETH.Soolana (SOL): Total maximum amount in staking: 4500 SOL.

Allowed amounts may vary. For up-to-date information, please refer to the fees and pricing page.

Question 4

Are there any fees for staking?

Accepted Answer

Yes, there are fees for staking that are applied to the rewards you generate. When you decide to close a staking position on Young Platform, fees are calculated as a percentage of the rewards and deducted directly when transferring them to your Main Wallet. These fees may vary depending on the cryptocurrency staked, the staking provider, and market conditions.

Additionally, if the rewards do not exceed the minimum fee, the difference will be deducted from the staked amount to meet the minimum requirement. However, there are no fees for staking activation, so you won’t be charged anything when you start staking.

Young Platform ensures transparency by providing precise details about fees within the Staking Settings.

For more information, please read Terms and Conditions Staking.

Question 5

Can I set up a recurring purchase on an active stake?

Accepted Answer

We are developing the &#8220;recurring purchase&#8221; feature for staking. The feature will be available in December 2024.

Question 6

How often do I receive staking rewards?

Accepted Answer

The frequency of reward distribution depends on the protocol and network conditions, and can vary from a few hours to several days, especially in case of congestion. However, the average payout times for Ethereum and Solana are as follows:

Ethereum: 1 daySolana: 2-3 days

Solana may take up to 4 days to receive the first reward.

Question 7

In which currency will the rewards be issued?

Accepted Answer

The rewards will be distributed in the same cryptocurrency you staked, not in euros.

Question 8

Do rewards vary based on the staking duration?

Accepted Answer

No, the duration of staking doesn&#8217;t directly affect the rewards. The yield is determined by the APY (Annual Percentage Yield), which depends on the protocol and is updated daily.

Ethereum (Liquid Staking): The APY is calculated as the average of the last 30 days provided by the Lido provider.Solana: The APY reflects the rate recognized by the network to validators at that specific moment.

While time doesn&#8217;t change the APY itself, it is crucial because the yield is calculated on an annual basis. The longer your assets remain staked, the more proportional rewards you&#8217;ll receive over time.

For Ethereum Liquid Staking, compound interest is also applied. This means that the rewards you earn are automatically staked again, increasing the total capital on which the APY is applied, thereby boosting your potential earnings over time.

Other factors that influence reward growth include injecting new capital. For example, creating new stakes every month or week for the same cryptocurrency can enhance your total earnings, as rewards are calculated by applying the APY to the staked amount, and in the case of Liquid Staking, this is further compounded by the effect of compound interest.

Question 9

How long do I need to stake my cryptocurrencies and keep them locked?

Accepted Answer

There is no fixed or minimum time requirement for staking your cryptocurrencies. You are free to close your stake whenever you want. However, it&#8217;s important to note that staking doesn&#8217;t become active immediately: after the creation of the stake, there is an activation period of around 24-48 hours, which may vary depending on the protocol. During this activation period, you will not receive rewards yet.

Difference between &#8220;creation&#8221; and &#8220;activation&#8221; of the stake

Creation: When you set up your stake, select the cryptocurrency and the amount staked.Activation: When the stake becomes fully operational on the blockchain and starts generating rewards. Depending on the chosen protocol, this activation process can take 24-48 hours or more.

During the activation phase, the stake does not yet generate rewards. Only once it is fully activated will you start earning rewards, which are calculated based on the APY.

Closing a stake

You can close the stake at any time once it is active, returning your cryptocurrencies to your main wallet. However, if you close a stake immediately after activation, it’s possible you won’t receive any rewards. This is because rewards accumulate only after a certain period of active staking, and closing too early might prevent them from being earned.

In summary, staking is flexible and you can manage it as you wish, but to earn rewards, you should consider the 24-48 hour activation time and the duration the stake remains active.

Question 10

Can I activate staking more than once on the same cryptocurrency?

Accepted Answer

Yes, you can activate staking multiple times for the same cryptocurrency. You can create a new, independent stake each time you add funds. This allows you to manage different stakes simultaneously, with varying amounts and activation times. Separate stakes will accumulate rewards based on the APY applied to each one. You can also close individual stakes at different times, depending on your needs.

Question 11

What is Staking?

Accepted Answer

Staking involves locking a certain amount of cryptocurrency to support the operations of a blockchain network and, in return, receiving rewards. When you stake your crypto, they validate transactions and maintain network security. Depending on the cryptocurrency and protocol, rewards are distributed as new tokens, calculated based on the APY (Annual Percentage Yield). Staking is often associated with Proof of Stake (PoS) blockchains, where users can participate in the network without needing complex hardware simply by contributing their funds.

Question 12

How do I create a stake?

Accepted Answer

To create a stake on Young Platform, follow these steps:

Go to the Staking section on Young Platform.Select the cryptocurrency you want to stake.Enter the amount you wish to stake, ensuring you meet the minimum and maximum limits.Confirm the transaction. Once completed, the stake will enter the activation phase, which may take 24 to 48 hours, depending on the protocol.

Question 13

How do I create a new stake?

Accepted Answer

You can create a new stake even if you already have active positions. Here&#8217;s how:

Go to the Staking section.Select the cryptocurrency where you already have an active stake.Click on Create new stake.Enter the additional amount you wish to stake and confirm the transaction. The new stake will be independent from the others and will follow its own activation process.

Question 14

How do I close one or more stakes?

Accepted Answer

Closing one or more stakes on Young Platform is easy:

Go to the Active Staking section.Select the stake you want to close, or if you have multiple stakes, choose whether to close them individually or all at once.Click on Close stake and confirm the transaction.The funds and rewards will be transferred to your Main Wallet once the closure process is completed, which may take a few days depending on the protocol.

Question 15

What are the benefits of the Young Platform Clubs for staking?

Accepted Answer

If you&#8217;re a member of one of the Clubs, you can enjoy additional benefits in the form of YNG tokens. This allows you to earn two rewards from the same stake: the standard rewards from your staked cryptocurrency and extra YNG token bonuses reserved for Club members.

Staking Ethereum

Bronze Club: +5% APY bonus in YNG tokensSilver Club: +15% APY bonus in YNG tokensGold Club: +30% APY bonus in YNG tokensPlatinum Club: +70% APY bonus in YNG tokens

Staking Solana

Bronze Club: +3% APY bonus in YNG tokensSilver Club: +8% APY bonus in YNG tokensGold Club: +15% APY bonus in YNG tokensPlatinum Club: +35% APY bonus in YNG tokens

The YNG token rewards accumulate throughout the staking period at the same frequency as the regular ones. When the stake is closed, the YNG tokens are transferred to your Young Main Wallet (YNG) and can be used for trading on the platform.

If you join a Club while you already have an active stake, you’ll start receiving the extra YNG bonuses when you become a Club member. However, these rewards are not retroactive, meaning they’ll only start accruing from the day of your Club activation, not for earlier staking periods. This allows you to maximize the benefits for the remaining staking period.

Question 16

How do you add funds to an active stake?

Accepted Answer

You can create a new stake even if you already have active positions. Here&#8217;s how to do it:

Go to the Staking section.Select the cryptocurrency for which you already have an active stake.Click on Create new stake.Enter the additional amount you wish to stake and confirm the operation. The new stake will be independent of the others and will follow its own activation process.

Question 17

Other staking information

Accepted Answer

In these sections of Young Platform, you will find all the articles and in-depth documents about staking.

Blog staking sectionAvailable cryptocurrencies and APYTerms and conditions

Question 18

Configuration staking

Accepted Answer

A set of parameters defining staking conditions, such as amounts, fees, times, and APY, is established for a specific cryptocurrency and provider.

Question 19

Stake

Accepted Answer

Each individual staking action within a position is performed by the user and is part of a broader position.

Question 20

Position

Accepted Answer

The staking service activated by the user according to a configuration. It includes one or more stakes and can be closed at any time.

Question 21

Stake History

Accepted Answer

In this section, you can always view a summary of information about an active stake:

Status: in activation / active / closing / closedRewards earned up to that momentAny rewards earned in YNG tokens for Club membershipThe date you created the stakeThe activation dateThe date the first reward was creditedAny request date for stake closureAny actual closure date of the stake

Question 22

APY – Annual Staking Rate

Accepted Answer

The APY (Annual Percentage Yield) represents the annual percentage return that cryptocurrencies in staking can generate. The method of calculating APY depends on the type of staking:

Liquid Staking: The APY is calculated as the average of the last 30 days and is provided by the Lido provider.Proof of Stake: The APY corresponds to the return rate that the network grants to validators at that specific moment.

In both cases, the APY is calculated before applying any fees. Also, keep in mind that the APY is an estimate of annual rewards and may fluctuate depending on market conditions, network status, and the protocol.

Question 23

Activation Time and Closing Time

Accepted Answer

Activation Time: The period required for the stake to become operational on the blockchain, typically between 24 and 48 hours.

Closing Time: The time required to unlock the staked cryptocurrencies and transfer them to the main wallet, varying by protocol.

Question 24

Staking, Liquid Staing, Proof of Stake

Accepted Answer

Staking: The act of locking cryptocurrencies to support a blockchain network, earning rewards in return. It is mainly used in Proof of Stake-based blockchains.

Liquid Staking: Allows you to stake cryptocurrencies while maintaining liquidity, receiving a derivative token that represents the staked asset, which can be spent or traded.

Proof of Stake: A consensus protocol where participants stake cryptocurrencies to validate transactions, ensuring network security.

Staking - FAQs

Staking on Young Platform