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What is Staking?

In decentralized finance (DeFi), Staking involves the depositing of tokens into a smart contract with the objective of generating passive income over a period of time. The tokens held by the individual accrue additional value through the accumulation of interest rewards.
The Nemesis PRO platform utilizes staking as its primary means of acquiring value. The approach of Staking, holding, and compounding is envisioned as the users' predominant mode of participation. Those who choose to stake their tokens are eligible for rewards, which are distributed at set intervals. The size of the rewards may fluctuate based on the reward rate determined by the monetary policy and the number of tokens being staked within the protocol.

Types of Staking

Nemesis PRO currently has 3 different staking pools that participants can choose from. They all have different APYs and properties/specifications/features.

Single Staking

Staking allows you to earn NMSP passively via auto-compounding. By staking your NMSP, you lock NMSP and obtain sNMSP (staked NMSP) in exchange at a 1:1 ratio. After then, your sNMS balance will automatically increase with each epoch (1 hour) based on the current APY. sNMSP can be moved across wallets, and users can unstake at any given time. Upon unstaking, sNMSP is burned, and an equal number of NMSP tokens are received. The user forfeits the upcoming rebase payment upon unstaking. Note that the forfeited reward only applies to the amount that wasn't staked. Any NMSP that was staked will still get rebase incentives.

Timelock Staking

In Timelock Stake Pool, participants lock NMSP for a certain period of time in order to earn rewards. While it's locked, the initial and rewards cannot be unlocked or transferred until the end of the lock period. When the locking period ends users are able to withdraw their initial investment plus their rewards.

PRO Staking

Participants will not be able to withdraw their initials from the PRO Stake Pool once they have deposited. However, they will be allowed to compound or withdraw accumulated earnings daily until they reach their maximum reward limit (200% of their total deposited/compounded amount).