If you’re interested in cryptocurrency, you might have heard of Standard Tokenization Protocol (STPT), which is a blockchain-based platform for tokenizing assets. STPT offers a range of benefits, including enhanced liquidity and reduced transaction costs, but how can you invest in it? The answer is staking.
In this guide, we’ll show you how to stake STPT so you can earn rewards and support the network at the same time.
We’ll cover everything from setting up a wallet to choosing a validator, and we’ll explain the benefits of staking along the way.
Whether you’re an experienced crypto investor or just getting started, staking STPT can be a great way to earn passive income while contributing to the growth of this exciting platform
What Is STPT ?
Standard Tokenization Protocol (STPT) is an ecosystem that launched Verse Network, a Layer 2 sidechain developed for the next-generation DAOs and DeFi.
Verse Network is a Layer 2 sidechain developed specifically for the next-generation DAOs and DeFi. DAOs are organizations that operate autonomously using blockchain technology, allowing users to participate in governance and decision-making.
However, DAOs often face challenges like high transaction fees and slow speeds, making them difficult to use and scale.
This is where Verse Network comes in – it’s designed to overcome these barriers and make DAOs more accessible and usable to everyone.
At the heart of the Verse Network is the STPT token, which serves as both the utility and governance token. STPT token holders can cast their votes on proposals within the network and use it as a medium of exchange for transactions.
But that’s not all – STPT also incentivizes users to participate in staking by providing rewards, making it a win-win situation for everyone involved.
What sets Verse Network apart is its commitment to allowing organizations and developers the freedom to make decisions about the platform’s features and functions.
It uses a proof-of-stake (PoS) consensus mechanism, which ensures scalability and allows for multiple virtual machines (not just an Ethereum virtual machine).
Additionally, Verse Network is front-running resistant, preventing users from paying higher transaction fees to speed up the validation of transactions on the blockchain.
Overall, the Verse ecosystem is all about supporting and improving the functionality and use of DAO-based DApps in the ecosystem. With its user-friendly approach and innovative features, it’s no wonder why STPT and Verse Network are gaining popularity in the world of cryptocurrency and blockchain.
Step 1: Purchase STPT?
Before you stake STPT, you need to get hold of it first.
To obtain STPT, you can purchase it on a cryptocurrency exchange such as Binance, KuCoin, or Gate.io. Here are the general steps to buy STPT:
Create an account on the exchange: If you don’t already have an account on the exchange, you’ll need to create one. This usually involves providing some personal information and verifying your identity.
Deposit funds into your account: To buy STPT, you’ll need to deposit funds into your exchange account. You can do this by transferring cryptocurrency or fiat currency, depending on the options available on the exchange.
Navigate to the STPT trading pair: Once your account is funded, navigate to the STPT trading pair. This will vary depending on the exchange, but you can usually find it by searching for “STPT” or “Standard Protocol” in the search bar.
Place an order: You can choose to place a market order, which will buy STPT at the current market price, or a limit order, which allows you to set the price at which you want to buy STPT.
Withdraw your STPT: Once you have purchased STPT, you can withdraw it from the exchange to a wallet that supports STPT.
It’s important to note that the process of buying STPT may vary depending on the exchange and the country you are in.
You should also consider any fees associated with buying and withdrawing STPT, as these can affect your investment returns
Step 2: Choosing staking platforms
Binance: Binance is a popular cryptocurrency exchange that offers services to stake STPT. It is a beginner-friendly platform with a simple user interface and low fees.
Binance also offers flexible staking options with no lock-up periods, making it a good choice for those who want to have easy access to their STPT tokens.
Blackzone: Blackzone is an advanced staking platform that offers services to stake your STPT. It is a decentralized platform that allows users to stake their tokens and earn rewards in a secure and trustless manner.
Blackzone has a user-friendly interface and offers a variety of staking options, including fixed-term staking and staking pools.
Coinunited.io: Coinunited.io is an intermediate staking platform that offer opportunity to stake STPT. It offers staking services for a variety of cryptocurrencies, including STPT, and has a user-friendly interface.
Coinunited.io also offers flexible staking options with no lock-up periods, making it a good choice for those who want to have easy access to their STPT tokens.
Factors to consider when choosing a staking platform:
Reputation and Trustworthiness: It’s important to choose a staking platform with a good reputation and a track record of security and reliability.
Staking Rewards: Different platforms may offer different staking rewards, so it’s important to compare the potential earnings of each platform before choosing one.
Minimum Staking Requirements: Some staking platforms may require a minimum amount of STPT to be staked, so be sure to check the minimum requirements before choosing a platform.
Staking Period: Some platforms may require a minimum staking period or have penalties for early withdrawals, so make sure to understand the staking period before committing your STPT.
User Interface and Experience: The user interface and experience of the staking platform can be an important factor to consider, especially for beginners. Make sure the platform is easy to use and navigate.
Security Measures: Look for a platform that implements strong security measures such as multi-factor authentication and cold storage to ensure the safety of your staked tokens.
Fees: Consider the fees associated with staking, such as platform fees and network fees, as these can affect your investment returns
How to stake STPT on Binance
Here’s a step-by-step guide on how to sign up for an account on Binance and stake STPT:
Go to Binance.com and click on “Register” in the top right corner of the page.
Enter your email address and create a strong password. Agree to the terms of use and click on “Register.”
Binance will send a verification email to your registered email address. Click on the link in the email to verify your account.
Once your account is verified, log in to your Binance account.
Go to the “Finance” tab at the top of the page and click on “Earn.”
Choose “Flexible Savings” or “Locked Staking” depending on your preference.
For flexible savings, you can earn interest on your STPT tokens without any lock-up period.
For locked staking, you can earn higher interest rates but your STPT tokens will be locked for a specific period of time.
Necessary information to provide when signing up for a Binance account includes your email address and a strong password.
Choose a Staking Plan.
Once you’ve created your Binance account and purchased some STPT tokens, it’s time to choose a staking plan that suits your needs.
To choose a staking plan, head over to
Binance Earn on the Binance Homepage
Binance Earn on the Binance Homepage
(This is what you will see Next)
Use the search bar and Type STPT
Click on the the STPT and follow the prompt
Binance offers two types of staking plans: flexible savings and locked staking.
Flexible savings allows you to earn interest on your STPT tokens without any lock-up period. This means you can withdraw your tokens at any time without any penalties.
However, the interest rates for flexible savings are usually lower than those for locked staking. As of writing this, the flexible savings rate for STPT on Binance is around 6.7% per annum.
Locked staking, on the other hand, allows you to earn higher interest rates by locking up your STPT tokens for a specific period of time. This period can range from a few days to several months, depending on the staking plan you choose.
The longer the lock-up period, the higher the interest rates you can earn. As of writing this, the locked option is currently not available
It’s important to note that there are risks associated with staking your STPT tokens, just as there are with any other investment. One major risk is market volatility.
The value of STPT and other cryptocurrencies can fluctuate rapidly, and there’s no guarantee that the value of your staked tokens will increase.
Another risk to consider is the risk of technical issues or security breaches on the staking platform.
While reputable platforms like Binance have robust security measures in place, there’s always a small chance that something could go wrong.
Despite these risks, staking your STPT tokens can be a great way to earn passive income while also supporting the STPT network.
By doing your research and choosing a staking plan that suits your risk tolerance and investment goals, you can minimize your risks and maximize your rewards
NOTE: To stake STPT on blackzone is complex, so we do not recommend it gor a Beginner
Step3: Start Staking Your STP Tokens
Once you’ve chosen your staking plan on Binance, it’s time to confirm your staking transaction. To do this, simply go to the staking page on Binance and select the STPT token.
Then choose your preferred staking plan and the amount of STPT you want to stake. Once you’ve confirmed your transaction, your STPT tokens will be locked up in the staking plan you’ve chosen.
Binance distributes staking rewards to its users on a daily basis. The exact amount of rewards you’ll earn depends on the staking plan you’ve chosen and the amount of STPT you’ve staked.
You can check your staking rewards and view your staking history on the Binance staking page.
If you want to withdraw your staked STPT tokens, you can do so by navigating to the staking page on Binance and selecting the “unstake” option.
However, if you’ve chosen a locked staking plan, you’ll need to wait until the lock-up period has ended before you can withdraw your tokens. Once the lock-up period has ended, you can withdraw your tokens at any time.
It’s worth noting that staking rewards are subject to taxes, so make sure you keep accurate records of your staking activity for tax purposes
Before you proceed to stake your STPT, Here are some risks to consider
Like any investment, staking STPT comes with certain risks that investors should be aware of before staking their tokens. One of the main risks is that the value of STPT could decline, which could result in a loss of the value of your staked tokens.
Additionally, if there are any issues with the STPT network or the staking platform you’re using, your staked tokens could be at risk.
It’s important for investors to do their own research and understand the risks associated with staking before investing any funds. Make sure you understand the terms of the staking plan you’re interested in, including the lock-up period and the staking rewards.
You should also research the STPT project and its development roadmap to get a better sense of its long-term potential.
As with any investment, it’s important to remember the popular investor saying: “Don’t invest more than you’re willing to lose.” While staking can be a great way to earn passive income, it’s important to only invest what you can afford to lose and to diversify your investments across multiple asset classes
How to Stake STPT |Conclusion
As you can see, staking STPT can be a great way to earn passive income while supporting the growth of the STPT ecosystem.
However, it’s important to understand the risks involved and to do your own research before staking any funds.
As a well-known figure in the STPT sector once said, “Staking is not just a way to earn passive income, it’s a way to support the growth of the STPT ecosystem and help build the future of blockchain.” By staking STPT, you’re helping to secure the network and contributing to its long-term success.
If you’re interested in staking STPT, be sure to follow the steps outlined in this guide and do your own research before investing any funds. And if you have any questions or concerns, feel free to drop them in the comments section below.
Staking STPT can be a great way to earn passive income and support the growth of the STPT ecosystem. By following the steps outlined in this guide and doing your own research, you can make informed decisions and manage your investments effectively.
If you have any questions about staking STPT or the STPT ecosystem, don’t hesitate to ask. We are happy to help newcomers get started.
