XRPayNet, a cryptocurrency built on the XRP Ledger, facilitates cryptocurrency payments in the retail sector. XRPayNet recently announced a stake campaign with XRP. XRP is a cryptocurrency created, issued, and partially managed by Ripple Labs, a US-based company. XRP is the fastest and greenest cryptocurrency with the most practical applications in the financial sector.
The XRPayNet coins staking program
Staking model has a 3 month soft-lock period starting 1st November 2022. Users can stake both 250,000 XRPAYNET and 500 XRP to share in a maximum of 20,000 XRPAYNET rewards (32% APY) or stake only 250,000 XRPAYNET for a 15,000 XRPAYNET reward (24% APY) or stake only 500 XRP for 12,500 XRPAYNET reward (20% APY).
Requirements for Staking:
Your coins will be soft-locked for 3 months, meaning that you can remove your coins from staking at any time but should you decide to remove your coins from being staked before the 3 month staking period is finished, you will forfeit the reward you would have gotten at the end of your 3 month staking period. You will have from the 1st of November 2022 – 31 January 2023 to stake your tokens. Your staking period will start from the day you stake it. (ie. Should you start on the 25th of December 2021 then your staking period will end on the 25 March 2023.)
How to stake:
- Download the XRPAYNET app from the Android or Apple app store.
- In the wallets section press the ‘add new wallet’ button.
- Name the wallet with the coin/s you want to stake (i.e XRPAYNET staking wallet)
- Toggle on the staking slider button;
- Select a duration of ‘3 Months’;
- Press ‘create wallet’;
- Transfer tokens to the wallet you created. (don’t forget the memo/account tag)
Note for Users: Should the users want to stake both XRPAYNET and XRP, you will have to go through this process to create a wallet for both coins. Should you want to unstake your tokens before staking period is done, thus forfeiting the rewards, you can do so by contacting firstname.lastname@example.org. Distribution of tokens will be done at the end of the staking period.
XRPayNet is a payment ecosystem that redefines the way financial transactions are done. They facilitate converting cryptocurrency payments made by consumers to businesses into conventional currencies. Their mobile application and card systems make the crypto-to-fiat payment process seamless, allowing companies to continue using their existing payment processing solutions.
XRPayNet Key Features
- Seamless Payment Interface for Retail World.
- Great Staking Rewards
- Buy Now, Pay Later
- Streamline Business to Consumer Payments.
The Editor-in-Chief of Cryptonaire Weekly, Mr. Karnav Shah, discusses the project’s potential: “XRPayNet serves as a bridge between traditional and crypto payments. The company is set to launch a staking event with XRP, a fast and green digital asset in the financial space. As a smart investor, staking XRPayNet and XRP Coin can be an excellent way to increase your holdings without buying more. As a promising project, XRPayNet aims to revolutionize online payments, in-store payments, enterprise-to-consumer payments, and peer-to-peer transfers.”
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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