Staking on Acta Finance
A Step by Step Guide
Today we’re very excited to present this written Tutorial on ActaFi Staking!If reading is not your forte but you still want to learn you can check out our video Tutorial on Staking here: (include staking video link)
In this tutorial, we will cover everything you need to know about staking on Acta Finance. We’ll start by explaining what Acta Finance is and how staking fits into the ecosystem then, go through the steps of how to stake, including important details such as rewards and fees. By the end of this tutorial, you should have a good understanding of how ActaFi Staking works and be ready to start staking on your own. Let’s dive in!
What is Acta Finance?
Acta Finance is The World’s First Cross-Chain DeFi Ecosystem Powered by Avalanche. We aim to empower individuals and organizations to take control of their financial futures and make informed decisions that drive positive change. With a focus on transparency, security, and accessibility, we’re building a decentralized financial system that introduces many centralized features for the first time on-chain to fight manipulation, corruption, and abuse of passive earning features. One of the key features of Acta Finance is its staking mechanism, which allows users to earn rewards by holding ACTA tokens.
Staking on Acta Finance
Staking on Acta Finance opens up an array of possibilities to you. When you stake your tokens, you are essentially putting them in a smart contract and making them available for use by the network. In exchange for staking, you receive rewards in the form of more ACTA tokens.
Additionally, staking can help to stabilize the price of ACTA tokens by reducing the number of tokens available for trading. Finally, staking can provide a sense of security and stability for investors who believe in the long-term potential of Acta Finance.
Now that you understand the basics of staking on Acta Finance, let’s go through the steps of how to stake your tokens!
Step 1: Connect your wallet
You will need to connect your wallet to the Acta Finance platform. For more information on our recent Wallet Connector Update, click HERE. To connect your wallet, simply click on the “Connect Wallet” button on the Acta Finance website and follow the prompts.
Step 2: Get ACTA tokens
Upon TGE you will be able to purchase ACTA tokens on a number of decentralized exchanges (DEXs), in advance of TGE you can use Testnet tokens after connecting your wallet. To acquire testnet tokens and start to familiarize yourself with our platform you simply:
1) Click the downward-facing arrow in the top right-hand corner underneath your wallet address (this should be connected after step 1, but if not, then connect your wallet again).
2) Click the button titled “testnet tokens”
3) Then click the button titled “Get test tokens”
This will then
Step 3: Navigate to the staking page
Once your wallet is connected, navigate to the earn section at the top of the site and select staking.
Step 4: Enter the amount to stake
Enter the amount of ACTA tokens that you want to stake. Make sure you have enough tokens in your wallet to cover the amount you want to stake, as well as any transaction fees (the small deposit fee is redistributed to the Affiliate and DAO Program and used to help incentivize and drive growth and adoption of the ecosystem).
You will have a button that gives you the option to compound your rewards, this automatically, and at no cost, puts all your rewards into your ongoing stake and therefore increases your reward rate significantly.
On the right-hand side of the interface, you will see an “Estimate Your Reward” header. This section allows you to view your estimated rewards based on different time frames (ranging from 7 days to 1 year) and if you decide to compound the rewards or not.
Step 5: Confirm the transaction
After entering the amount to stake and selecting your term, you’ll be prompted to confirm the transaction. Check the details of the transaction carefully, including the number of tokens you’re staking and any fees associated with the transaction. Once you’re ready, click on the “Confirm” button to complete the transaction.
Step 6: Earn rewards
Congratulations! You’ve now staked your ACTA tokens and are earning rewards. Rewards are paid out in the form of more ACTA tokens, and to increase your reward rate, simply leave your stake in longer and compound your rewards!
Step 7: Claim rewards: To claim rewards it’s as simple as hitting the claim button.
Other Key Information/Benefits
There is no lock-up period when staking your ACTA tokens, you are free to withdraw your stake as you choose. However, if you choose to stake your ACTA tokens and are engaging with the DAO to gain one of the four titles, then there is a lockup period associated with each title. Each title will have a different amount required to stake in order to gain that status. There are many benefits to staking and gaining a DAO title, including more rewards and having governance rights, this will be discussed in greater detail in our next tutorial video/article.
How Acta Finance is Working for You
There is a very famous quote from Benjamin Franklin that sums up the benefit of staking your ACTA tokens Acta Finance; he states that “Money makes money. And the money that money makes, makes more money”. This phrase sums up our desired wish for all ACTA token holders– that we empower you to take control of your finances and use your holdings to help you increase your wealth over and over again.
Acta Finance is simplifying the process of making your investments work and earn for you. We are proud to show off our vast ecosystem and its many outstanding tools designed to give our incredible ActaFam DeFi at its very best — Now go check it out yourself on ActaFi Testnet!