How to stake resources ?
Last updated
Last updated
Since the WAX blockchain is developed based on the EOSIO architecture, its consensus algorithm and resource model are different from other blockchains, so the transaction method is also different from other blockchains that charge fees for each transaction.
WAX is a shared resource that relies on users to stake WAXP for computing resources. When WAXP is staked, rewards are accumulated over time. Because it increases the scarcity of the token (as it is shelved and stored until the user withdraws it). The tokens you hold are yours forever, and staking WAXP for computing resources is actually charging the WAX blockchain so that the WAX community can transact with zero fees and unlimited opportunities.
Therefore, we do not need to pay transaction fees in essence when doing transactions on WAX, but we need to stake WAXP to obtain computing resources.
After we buy WAXP at CEX (Binance or Nexo).
Click "Withdraw" and enter the WAX account we just created, or click "Receive" in WAX Cloud Wallet to scan the account.
After the assets are credited, the balance will be displayed in the upper left corner.
We can see how much of our computing resources are being used.
We can select the resources to be staked below, then fill in the amount of stake, and finally click "Stake".
(Pay more attention to your RAM usage, RAM usage is faster than CPU/NET, and you can also sell unused RAM.)
You can also choose to use the Defibox platform to mortgage WAX to obtain resources. The specific operations are as follows:
Log in to the official website: https://wax.defibox.io/
After logging in to the wallet, click on the upper right corner and select "account resource"
According to your own needs, mortgage CPU, NET, or RAM, click "Stake"
You can also choose "Redeem" in the follow-up. After 3 days, WAX will automatically return to your account.
