Cryptocurrency staking remains an appealing option to put idle assets to work. While not all significant currencies support proof-of-stake, those that do will often see tremendous engagement and support. The following five assets have the highest total staked percentage per StakingRewards.
Tezos (XTZ)
There is a strange indication regarding the amount of XTZ locked in Tezos staking today. Per StakingRewards, over 100% of the supply engages in staking today. Although that is theoretically not impossible, it seems rather unlikely. However, Tezos has surpassed $2.276 billion in staked value again, which is rather impressive. Even though the estimated yearly reward has dropped below 2%, many people continue to accumulate for XTZ through staking.
Mina (MINA)
The Mina protocol wants to become the next-generation security and privacy layer for Web3 development. Additionally, the project claims to be the “lightest” blockchain using zero knowledge technology. Therefore, staking is essential for the network to achieve consensus and security. Roughly 97.4% of the MINA supply is currently staked on the network, at an annual reward of 11.66%. It is interesting to see a staked value that is twice as high as the project’s market cap.
USDN (USDN)
The Neutrino USD stablecoin, also known as USDN, uses an algorithm to remain pegged to the US Dollar. The stablecoin is backed by WAVES tokens and uses the staking model of the Waves protocol. Staking a stablecoin is an excellent way to unlock passive revenue. Although USDN has a market cap of nearly $1 billion, just $25,433 is engaged in staking at 5.61% per year. Oddly enough, that represents over 96.6% of all coins eligible for staking.
Curve DAO Token (CRV)
Curve remains one of the biggest DeFi protocols in the world. Its DAO token, dubbed CRV, offers many opportunities across decentralized finance. However, it is also worth staking CRV, despite the 1.12% annual reward. Over 96.2% of the eligible CRV tokens are staked on the network, which is a compelling number. It confirms high rewards are not the only reason for people to support networks through staking
WAX (WAXP)
Worldwide Asset eXchange, or WAX, is a blockchain ecosystem to safely and conveniently create, buy, sell, and trade virtual items. Moreover, it is a carbon-neutral and Metaverse-ready environment with support for NFTs, GameFi, dApps, etc. Long-term WAXP holders eagerly explore staking opportunities, even if they earn barely 0.04% per annum. Over 89.4% of the eligible WAXP supply is locked in stacking today, which is somewhat surprising.
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