PROPEL: A Distinctive Staking as a Service Platform
As blockchain technology becomes more established and entrenched, we can expect to see an evolution in the nature of the businesses and services surrounding the ecosystem. Perhaps there is no better example than the rise of Staking as a Service (SaaS) platforms. SaaS platforms have developed around blockchains that utilize a Proof of Stake (PoS) consensus mechanism to validate and verify transactions or smart contracts.
SaaS represents a value-adding service that these trusted parties offer to clients both large and small. Many institutions doing business today have evolved beyond simply buying and selling assets. SaaS represents a new step in adding value to clients’ holdings. Through staking, participants have an active role to play in keeping networks decentralized and secure. It also represents the newest wave of innovation embraced by many of the most popular blockchain projects on the market today. Many so-called third generation cryptocurrencies, all rely on some form of Staking as a Service to help achieve consensus in their networks.
Nevertheless, the idea of making money from crypto is appealing to everyone, but how to do it is the challenge. Mining proves expensive, trading is risky, and even if one decides to put money in mining pools, energy concerns remain a challenge. But today, one of the best ways to make money from cryptocurrency is through staking. However, while you can stake your cryptocurrency personally, you will need to invest in reliable hardware for your nodes. This hardware costs money that not everyone has lying around, which is why Propel offers a better solution.
Even though the staking process seems simple and easy, individuals new to cryptocurrencies can find it confusing, and with an increase in the number of staking opportunities on various crypto assets on multiple platforms, many individuals find it hard to participate in the right staking platform at the right time to earn maximum possible returns. To resolve this major issue, Staking pools have emerged as a savior.
In an exciting step for the DeFi sector, Propel is bringing together staking-as-a-service to unlock greater accessibility to digital assets through it’s pool function. Propel pool provides users with Proof of stake infrastructure, thereby giving users the chance of a reliable and secure option for staking. Its staking pool is designed for institutional investors and individual users who want to earn by staking their digital assets.
Propel pool staking as a service features allows users to participate in the following;
1. Single Asset Staking
The Single Asset Staking option allows users to stake any supported cryptocurrency and earn staking rewards PROPORTIONAL to their stake in the pool. Here, the staking rewards will be issued in the same token as the one staked by the participant.
2. LP Staking
LP staking enables liquidity providers on AMMs to earn bonus rewards by staking the LP tokens in their possession. The stakers on LP staking will receive one of the tokens as rewards which solely depends on the liquidity pool’s token pair they contributed, E.g if a person will be rewarded with Token A, if he/she deposited LP token for Token A-BNB pair.
Note:
The reward will be proportional to the size of their stake in the pool.
3. Time Capped Staking
Here in Time Capped Staking, a user will be allowed maximum tokens capping for a certain period of time to have fair participation. The feature also prevent whales (individuals that hold enough token) from dumping too many tokens or suddenly removing liquidity from the pools.
4. Basket Rewards
Basket Staking Rewards offers returns in wide range of tokens, though still proportional to what the user contributed to the pool. The selection of reward tokens in the basket may vary from one staked token to another, and it is dependent on multiple factors. e.g if a User deposits token A, he/she can rewarded with multiple tokens A, B, C proportional to the size of the staked amount.
Why choose Propel Staking as a Service?
There are many reasons why Staking as a Service has risen to popularity in recent times. Highlited below are some key reasons why you should choose Propel’s Staking as a Service.
1. Propel SaaS allow holders of its native tokens to tap into the lucrative financial opportunities that staking platforms may bring. It services can guarantee a level of performance and consistency necessary for maximizing return on user’s investment.
2. Propel' SaaS takes the complexity out of staking for users by managing the staking process on their behalf. This dramatically reduces the barrier to entry to get started with staking, as institutional SaaS providers make getting started as simple as a few clicks. The rewards generated also go directly to a user’s wallet hosted by the SaaS provider, adding to their original holdings.
3. Propel SaaS provides a secure on-ramp, typically in an easy-to-use interface, for anyone to begin their staking journey. This ensures a level of quality and hands-off management that many users desire.
4. Propel SaaS offers every information and feature you need to stake using the right strategy and you can trust that your digital assets are safe as the platform is highly secure. By opening up users to a more liquid, safer, and efficient method of staking, Propel can move towards a more environmentally conscious and egalitarian method of validation.
5. Propel SaaS provides a level of assurance that rewards will be generated reliably by professional operators. This is bolstered by the fact that it has insurance against slashing, a common factor in many PoS blockchains for poor performance, meaning returns are never cut for any unforeseen circumstance.
Conclusion
While there are other staking platforms out there, Propel remains one of the best. Propel’s Staking-as-a-Service offers an entire staking ecosystem complete with support for tokens from different blockchains with an unlimited reward earning capabilities. It provides an accessible way to engage with new, innovative Proof of Stake blockchains which are sure to shape the industry over the years that follow.
About Propel
Propel is a global blockchain infrastructure solutions platform that offers end-to-end plug-and-play infrastructure solutions to DeFi, NFT, and Metaverse projects.
Propel holds the distinction of being the only provider offering DaaS, MaaS, and Staking solutions under a single umbrella.
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