Learn about Curio Parachain and Staking Rewards
One of the easiest ways to build wealth for the future is to invest in unique collector’s items like collectible cars or rare artworks.
For a long time, they reserved this method of building wealth for only the elites. The average man on the street couldn’t afford to dole out millions of dollars to purchase a vintage BMW or a rare piece of art — say, a da Vinci.
Now, it’s possible for anyone to invest in rare items on the CurioInvest platform. The blockchain platform allows anyone to invest in tokenized real-world collectibles — for instance, exotic cars — and make a profit when the car is auctioned.
No doubt, investing in unique collectibles is one of the fastest and sure ways to grow wealth fast. CurioInvest opens up the collectible car market for all investors; from the ‘elite’ investor to small-capital crypto enthusiasts.
CurioInvest is a blockchain platform built on an Ethereum-Polkadot hybrid. Notably, the platform just launched its native blockchain network called the Curio Parachain.
This latest move will allow investors to do more than just invest in vintage supercars. Even more, you’ll be able to stake your CGT tokens and earn 25% ROI annually.
This article will explain what the Curio Parachain is, how staking works and how to earn passive income on the platform.
What Is Curio Parachain?
Parachain is CurioInvest’s native blockchain platform. The CurioInvest Governance token sits on the Ethereum blockchain while Parachain is still in the TestNet stage. Once the Curio blockchain ecosystem is up and running, the tokens on the Ethereum chain will become transferable to the Parachain Curio using a bridge.
Staking on Curio Parachain
Thanks to the decentralized finance boom, staking has become a popular, lucrative way to make money in the crypto space. Quite simply, you set apart some tokens to take part in transaction validation on a blockchain network using the Proof-of-Stake consensus protocol. Anyone with the required minimum staking amount of the native token can validate transactions on the blockchain and earn staking rewards.
Curio Parachain uses a validator and nominator system for its Proof-of-Stake consensus protocol. It adopts a nominated proof-of-stake (NPoS) algorithm for selecting validator sets on the Parachain. Validators on the Curio Parachain maintain the network and maximize network security.
Every validator on the network is required to operate a validator node. They limit the number of validators on the network at the launch of Parachain, but the number will grow over time to about one thousand validators.
Nominators on the Curio Parachain work as subordinates to the validators. They encourage CGT holders to become nominators on the platform: backing up to 8 validators as trusted validator candidates.
Validators and Nominators on Curio Parachain have distinct, yet unique job descriptions. The validators’ role is to take part in producing new blocks by validating transactions on the Parachain, while nominators can back validators with their stake in CGT tokens.
Benefits of Staking On Curio Parachain
If you’re wondering why you should stake CGT tokens on Curio Parachain, you can stop wondering now. Here are some of the benefits you enjoy by staking on the Curio Parachain.
- Earn up to 25% in rewards: Stake your CGT tokens and earn up to 25% in rewards for securing the network.
- 10% targeted annual inflation rate: Curio Parachain offers an p to 10% annual inflation rate to regulate the value of tokens on the platform.
- 60% targeted active staking: Inflation on the blockchain is shared among validators and nominators if 60% of CGT was staked.
How to Stake on Curio Parachain
Staking on Curio Parachain is as easy as it gets in decentralized finance. All you need to do is:
Visit the Curio Parachain Staking page
Before staking on the platform, you should know you can either be a nominator or validator. As a nominator, you can nominate up to 8 validators to help you earn rewards in CGT tokens.
Nominations have to visit the Curio Staking page https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fparachain.curioinvest.com#/staking and follow the instructions. It’ll be much easier to stake on Curio Parachain if you’ve staked through other projects built on the Polkadot network.
Staking on the Curio Parachain is every investor’s dream. Step into staking on Curio Parachain and discover how easy it is to make your money work for you.
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