The staking of various cryptocurrency assets can often prove to be a lucrative venture. In the case of ORN, or Orion Protocol‘s native token, users can earn 39% APR for the first month. Several platforms support the pre-staking of this asset already.
Staking With BitMax
The first trading platform to officially support the pre-staking of Orion Protocol’s token is BitMax. In the original announcement, it is mentioned how this program will run for a total of three months. During the first month, users will earn the monthly equivalent of 39% APR.
The minimum amount is 5 ORN, and users are allowed to unstake their holdings at any given time. Staking rewards will be issued on a daily basis. It is also worth noting that ORN holders can compound their rewards to earn bigger staking rewards in the process.
Staking ORN on Pool-X (KuCoin)
It is interesting to note how the KuCoin exchange is getting in on the pool staking model. The company has confirmed that Orion Protocol is the first winner of the Choice Community Vote. This ensures the trading is listed on KuCoin, but also allows for ORN pre-staking on Pool-X.
Similar to BitMax, users will receive staking benefits on a daily basis. The rewards are similar – 39% APR for the first month, plus 3.09% reference annual yield. Pool-X has a slightly higher minimum requirement, as 10 ORN is needed. Not the biggest difference, but it is something to take into account.
It is good to see all of the pre-staking pols maintain the same rates without any issues. Users who explore lock staking on BiKi will be able to earn the same 39% APR for the first month. There is a total quota of 400,000 ORN, which is lower than both BitMAX and Pool-X.
Similar to Pool-X, interested users need a minimum amount of 10 ORN to begin staking. Interests will be paid every single day, but users cannot unlock their stake before the lock-in period comes to an end. That is something to be aware of, although most stakers won’t benefit from leaving their staking position too soon.
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