What is staked OHM and how does it work in the cryptocurrency market?

3 answers

• Dec 25, 2021 · 3 years ago
  Staked OHM refers to the process of locking up OHM tokens in a cryptocurrency wallet to support the stability of the Olympus DAO network. By staking OHM, users contribute to the network's security and earn rewards in return. Staking OHM involves holding the tokens in a specific wallet and participating in the network's consensus mechanism. This helps maintain the integrity and decentralization of the network while incentivizing token holders to actively participate in its governance.
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• Dec 25, 2021 · 3 years ago
  Staked OHM is like putting your money in a savings account, but instead of earning interest, you earn more OHM tokens. When you stake OHM, you're essentially lending your tokens to the Olympus DAO network, which uses them for various purposes like liquidity provision and governance. In return for staking, you receive rewards in the form of additional OHM tokens. It's a way to earn passive income and contribute to the growth of the network at the same time.
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• Dec 25, 2021 · 3 years ago
  Staked OHM is a key feature of the Olympus DAO ecosystem. By staking OHM, token holders become active participants in the network's governance and decision-making processes. Stakers have the power to vote on proposals, suggest changes, and shape the future of the Olympus DAO. Staking also helps secure the network by making it more resistant to attacks and ensuring the integrity of transactions. Staked OHM plays a crucial role in the overall stability and growth of the cryptocurrency market.
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