REX staking is about to come to Telos and the rewards are going to be much, much higher than on any other EOSIO chain, thanks to the recently passed Telos Economic Development Plan. With the TEDP, 1,000,000 TLOS per month will be funded as an additional reward for REX staking. This is likely to yield a staking reward in the range of 30% APR.
Here’s how to earn your T-REX staking rewards:
1. Access your Telos account from your favorite wallet.
All EOS genesis holders will already have one created for them using their genesis account name and keys. Simply add the Telos Mainnet to your wallet’s known networks to access it.
If you don’t have a Telos account, you can create one for free and add TLOS from Chainrift, Newdex, Akdex, CoinTiger, or any other exchange that lists TLOS.
2. Vote for 21+ Telos BPs or a proxy.
REX requires that an account is actively voting for at least 21 block producers. You can vote from Sqrl or other wallets, or from a block explorer. You can also proxy your votes to any Telos voting proxy.
3. Stake your TLOS to REX for high rewards.
Stake (lend) TLOS tokens from your account from any wallet or block explorer that has Telos REX enabled (most will by the start of REX staking or shortly after).
You can stake TLOS tokens that are liquid or already staked for resources. Tokens staked to REX will receive REX tokens instead of TLOS. There is an initial 4-day maturation period before REX can be redeemed for TLOS again. However, REX tokens will continue to accrue rewards until they are redeemed (un-lent).
REX tokens can only go up in price. You will be able to track your tokens from your favorite REX-enabled block explorer or wallet.
1 Million TLOS tokens per month will be distributed to Telos REX rewards by the TEDP. The expected reward is about 30% annual interest, while Telos has 0% inflation. Any account can take advantage of Telos REX.
Exchanges listing TLOS:
About the author: Douglas Horn is the Telos architect and whitepaper author, and the founder of GoodBlock, a block producer and app developer for the Telos Blockchain Network.
More about GoodBlock can be found at: www.goodblock.io
Join us on Twitter @GoodBlockio
Vote for GoodBlock on the Telos Blockchain Network @goodblocktls