In an effort to make its staking program more user-friendly and accessible, Bitcoin L2 Mintlayer has announced an update to its user interface. Users may stake their ML tokens and receive rewards using Mintlayer’s streamlined staking program. It’s integrated with both its blockexplorer and Mojito wallet browser extension.
With the release of Mintlayer’s improved staking program, more users will be able to stake their ML tokens. Among the most alluring staking programs in the sector, Mintlayer provides an annual percentage yield (APY) of about 198%.
Staking tokens on Mintlayer Mainnet may be done in two ways. Anyone with as little as one ML token may join an existing pool or start their own. If you want the highest APY, you can create your own pool, but you’ll need 40,000 ML tokens and a node to do it. Because it offers a competitive APY without huge token requirements or managing a node, many people find that delegating to a predefined pool is the best solution.
As little as one ML token may be locked by the Mintlayer community to participate in staking using the Mojito wallet browser plugin and the blockexplorer. Since the ERC20 version of ML does not support staking, users are required to stake the mainnet version. Over 27 million staked ML from 928 delegates have been attracted by the 268 pools that have been formed on Mintlayer so far.
More users will engage in ML staking thanks to the improvements to Mintlayer’s staking program, which will stimulate more activity on the Mintlayer network.
Not only can the ML token be staked to secure the Mintlayer network, but it can also be used to pay Bitcoin sidechain transaction fees. Similar to Bitcoin, Mintlayer’s token emission schedule decreases with time. Tokenizing assets in the real world has never been easier than with Mintlayer, a Bitcoin L2 that lets developers build decentralized finance apps that tap into Bitcoin’s liquidity.
