NFTs have emerged as an attractive extension of cryptocurrencies and the possibilities of blockchain. Here is how staking works with NFTs.
One of the hottest trends in the industry today is the idea of “NFTs”. What is NFT? It is a special kind of token that represents a digital asset or physical item.
For example, a token that represents a digital art piece that you’re selling on the NFT marketplace could be considered an NFT. Non-fungible tokens are an interesting concept because they represent a way of adding utility to something — in this case, art. it then becomes a digital asset and can be sold.
The token’s identifying information is stored in a decentralized registry, in the form of Smart Contracts. These registries, similar to the ones used for decentralized apps, enable developers to digital assets directly to users.
As opposed to cryptocurrencies like Bitcoin where one BTC has the same value as another, non-fungible tokens are all unique in their own right. Furthermore, they are not divisible like fungible tokens. In this guide, we will explore NFT with regards to staking and the mechanics of how it all works.
One of the thoughts that come to mind is the prospect of staking them for additional profits. Let’s start with the basics, and build from there.
What is Staking?
Among many other things a user can do with NFTs is the idea of staking, which allows you to lock up some of your NFT tokens in a proof-of-stake crypto wallet to secure and govern a blockchain network. It is done in exchange for rewards, rather than a simple deposit or withdrawal model. It’s like a spin-off from mining, but not the same thing.
Why Stake NFTs?
The NFT ecosystem is hampered by low liquidity. At present, it is underdeveloped, as most users purchase the tokenised asset for long-term appreciation. Others do so to burn them, which creates scarcity, and, in turn, increases the value. Staking comes into play to resolve this problem. Staking a non-fungible is no different from staking a cryptocurrency.
Once you’ve found, for example, a digital asset with a revenue-generating potential, stake your tokens and receive incentives. The fee and block could come in the form of an annual percentage yield (APY) of the staked token, depending on the lock option duration. It could feature additional network validation, to ensure transaction integrity and confirmation.
Staking rewards depend on a variety of factors. Among them is the NFT asset’s potential to generate considerable income streams. NFT crypto staking can provide rewards up to 100% APY. Besides generating income for users, NFT staking also increases liquidity and attract more investors to the ecosystem. In turn, this will further facilitate the ecosystem’s growth.
Projection of the NFT Ecosystem
At the moment, NFTs encapsulates crypto, gaming, and digital artwork collectibles. However, content creators are currently hopping on the bandwagon, incorporating NFT into their products. For instance, artists who are into oil painting can create a digitized version of their works and even earn royalties.
Notable brands current license their NFTs, including Kellogg’s, Pizza Hut, Ubisoft, MGA Entertainment, and Taco Bell. As of June 2021, Twitter launched its NFT collections. If there’s any better time to become a part of the NFT ecosystem is now!
If you are already an NFT enthusiast who’s short on ideas for how to generate additional income other than HODLing long-term, NFT staking may be the answer. Look for NFTs with the potential to create good returns and invest your money. What makes staking interesting is that you don’t need to purchase your asset of choice outright; yet, you can partly own it and still earn high ROIs.
NFTs have carved a niche for themselves in the crypto marketplace. Here are insights on how NFT auctions are done?
A Comprehensive Guide to NFT Auctions
Ever thought of creating and selling your NFT at an auction to generate a lucrative income stream? Come to think of it, do you know how much the famous “Disaster Girl” meme sold for as a non-fungible token? A whopping $500,000. And if that isn’t enough, how about Jack Dorsey’s first tweet auctioning for $2.5 million.
However you want to consider it, NFTs are the new goldmine, creating opportunities for owners and collectors to earn sustainable incomes.
Perhaps, you missed out on the Bitcoin rave when it was just a few cents, and then Ethereum and the likes. You wouldn’t want to overlook this once in a lifetime opportunity, would you?
The demand for digital gaming, artwork, and crypto collectibles is skyrocketed. One memorable event in the industry is the Beeple NFT auction, Everdays: The First 5,000 Days, which sold at Christie’s for $69.2 million. The same NFT auction also set a record for the high-selling digital art in history.
An NFT is a non-fungible token or cryptographic token that is attached to a unique asset of value. The digital asset can be sold, traded, or transferred.
With the proliferation of cryptocurrencies and the advent of blockchain technology, tokens have taken on a new lease of life. In fact, they are now being treated as real digital assets. This is a major step in their evolution from just pure digital currency to an asset class in its own right.
While NFTs are often associated with the art and gaming (game items and avatars) industry, they have a variety of applications, including financial transactions (payment solutions), intellectual property (patents, copyrights, and trademarks), ownership (real estate, collectibles, and more), reputation (social media, marketing, and branding), and utility (smart contracts).
NFT Auctions: How Do They Work?
NFT auctions connect creators with audiences. Collectors looking for unique digital artwork or other collectibles can find them on reputable NFT auction websites. An NFT auction site runs on a blockchain, most likely, Ethereum.
In most NFTs, an ownership transaction is initiated by a wallet and the NFT is then registered and stored, similar to cryptocurrencies. The blockchain verifies the identity of the seller and the ownership and validity of the NFT. Of course, bidders on the platform are also verified.
In an auction, the owner of the NFT sets a reserve or starting price for the asset. The auction site runs on the Ethereum blockchain, which means that prices are set in ETH and are used for all transactions on the network. The reserve price is the lowest possible bid price, and is also called the “opening bid”. Collectors are to bid above this limit. With each bid, the price of the asset increases.
There is a time limit for the bid duration after which the seller accepts the highest bid price and receives it in ETH, while the NFT auction platform transfers ownership of the NFT asset to the buyer after the individual must have settled the NFT. There are no further bids on the asset except the new owner decides to auction it in the future.
When listing an NFT on an auction site, there is a certain percentage charge or GAS fees on the potential transaction. Hence, it is essential for you as a creator to factor in this cost before auctioning your NFT.
The most interesting fact about an NFT auction is that it operates in a digital world and yet it incorporates real-world assets. Depending on if you decide to be a creator or a collector, there is an avenue for you to make money and own highly treasured collectibles.
Nigeria is a booming market for cryptocurrency right now, and here is how to buy bitcoin in the country using some of the leading platforms available.
How to Buy Bitcoin in Nigeria
When it comes to the selling and buying of bitcoin, Nigeria is at the forefront having the highest Google searches for Bitcoin after the US and ranking top in peer-to-peer transactions. If you are interested in joining the current revolution and being well informed on how you can trade Bitcoin safely in Nigeria, please read on.
What is Bitcoin
According to Bitcoin.com, Bitcoin in the practical sense is money that exists in a digital form.
Bitcoin Price Highlights
The price of Bitcoin is the current price at which bitcoin is being traded. It is determined by the buyer and seller. Despite this, its price varies across exchange platforms such as Coinbase and Binance because of market inefficiencies.
Within the past five years, Bitcoin has witnessed dynamic surges in its value rising to around $1,290 in March 2017, the highest ever it has been before then. This trend continued across the months getting to a peak of $19,783.06 nine months after on December 17, 2017.
Up till the year 2021, the price of Bitcoin continues to increase with surges and minimal decline along the way. On April 10, 2021, Bitcoin recorded its highest ever price to date some months after Elon Musk and Tesla announced their investments in Bitcoin peaking at above $60,000.
Though the value of Bitcoin in the crypto market suffered a crash to half this price in May 2021 due to rumors of Tesla selling its Bitcoin holdings, the price is still on the high side when compared to how it was a year ago.
The Features of Bitcoin
It is Decentralized
The very first and intriguing feature of bitcoin is its decentralization. This simply means that there is no central power or regulator as the case is with traditional currencies which are designed, issued, and managed by a central authority.
Bitcoin transactions are visible to everyone in the digital world of cryptocurrency though Individual Bitcoin assets are concealed to promote privacy and confidentiality which motivates positive trading.
It is to be stated here that the identity of users of Bitcoin remains anonymous and the chances of tracking transactions back to Bitcoin users are very minimal. This is to prevent online robbery or digital theft.
When compared to other modes of transaction such as bank transactions, bitcoin transactions are faster.
Nonrefundable mode of transaction
Bitcoin transactions are a one-way mode of transaction. Any transaction made from a sender to a buyer cannot be reversed unless the buyer is willing to do so.
Bitcoin is not a physical currency but a digital one. You can never carry a bitcoin in your purse or pockets in the form of notes or coins, but you can easily carry it on your phone or tablet.
Simple to use
Most of the time, to open and manage a bank account is quite tedious and long. This is not the case with a Bitcoin account. You can set up your account in a matter of minutes.
Value is determined by demand
The value or price of Bitcoin is not fixed like other assets. It depends on market dynamics. The value of Bitcoin is determined by the strength and volume of its demand.
How to Buy Bitcoin
If you are interested in buying Bitcoin in Nigeria and ready to explore the untapped benefits in the world of cryptocurrencies, there are different exchange platforms, brokers, and marketplace that can help you. Below is a guide on how you can go about this.
Buying Bitcoin on Binance
Binance is the biggest cryptocurrency trading platform on earth today, recording up to $2.46 trillion in May 2021 transaction volumes. The platform offers the largest trading base for listed crypto and offers the major trading pairs with leads like BTC, ETH, XRP, USDT, DAI, BNB and BUSD on the P2P front.
At present, to buy Bitcoin in Nigeria using the Binance platform will only be possible using the P2P platform it offers. Firstly, you need to register your new account using this process:
·Your driver’s license, international passport or national ID card will be needed
·You also need to link a bank account to your profile to use for the transactions
·You will be notified if your application is successful, and you can start using your new account.
How to buy Bitcoin on Binance P2P Platform
On the platform, log in to to your account, and navigate to the P2P page from your account dashboard.
Locate the the P2P and express tab and click on your preference
With the express tab, the platform matches you with the available sellers on the platform with you deciding
transfer the funds to the seller and wait for at lest 15 minutes
You will have to click on payment made tab to notify the seller
Your BTC will show up on your balance after the seller confirms receipt of payment made.
Buying Bitcoin on the Coinmama Exchange platform
Coinmama as an exchange platform was founded in 2013 with the mission of making simple how Bitcoin (BTC) is traded. The platform has more than 2.9 million users in over 190 countries in the world. It also provides the platform for some users in selected markets to sell their Bitcoin.
How to open an account on Coinmama
Go to the sign-up page to create your account. Fill in your email in the allocated spaces as well as your country of residence to get started.
Thereafter, click on the verification link sent to your email
Complete the requested form to confirm your identity and safeguard your account.
Thereafter, you will be required to upload an ID to approve you for purchase. Choose the ID type you will like to upload based on your country of residence. Take a photograph of the front and back of your ID with your phone camera with all four corners visible and clear image and text, then upload them to your account.
Then, write “Coinmama” and date on a piece of paper. Hold the paper and the ID you’ve just uploaded and take a photograph of yourself. Ensure your face, ID, and paper note are visible. Then upload the photo to your account.
After successfully uploading, click to submit. Your form and documents will be reviewed by the verification team for verification. If everything is okay, you will be approved to buy Bitcoin online with Coinmama within fifteen minutes.
How to buy
Sign in to your account to buy bitcoin. Select the cryptocurrency (Bitcoin) you want to buy and the currency of your choice
Select the package of your choice and input your desired amount, thereafter you can tap “buy”
Input your selected third party wallet address
A confirmatory link will be sent to your email to confirm your wallet address, click on it if it is correct
After your payment has been approved and the wallet address confirmed, the coins will be immediately delivered to your wallet.
Buying Bitcoin on the Luno Exchange platform
Luno has been in the cryptocurrency industry since 2013 with transactions worth more than 14 million dollars. The platform has customers in over 40 countries.
First, you need to go to the sign-up page to create your account. Similar to that of Coinmama
Complete the requested form by filling in your first name, middle name, gender, date of birth, phone number address, city, and zip code. You can also click on the ‘I’ve confirmed my email’ option in the Luno app. After which you will be automatically verified with the submitted phone number and personal details.
If not, you will be required to upload a document for verification (driving license, identity card, or passport). Open the Luno app and sign in, tap Profile on the Menu, navigate to Settings, select Upgrade. The document is required to show your identity number, name, date of birth, and a clear photo.
You may also need to confirm your address. To get this done, you will upload a photo or an ID which contains your name, address, residency, and issue date. This ID must not be older than 3 months.
How to deposit
Open the Luno app and sign in
Select Wallets from the menu
Choose your local currency wallet
Choose the method with which you’d like to top-up your wallet
And follow the on-screen prompts from there
How to buy
Verify your identity on Luno.
Deposit to your local currency wallet, once it reflects in your wallet, then you can proceed to buy.
Thereafter, you can simply tap the specified amount on the homepage screen to buy or specify the amount of your choice. Then pay or make use of Luno Exchange.
Buying Bitcoin on Coinbase
Almost all users begin their crypto journey through Coinbase. The platform has been in the cryptocurrency industry since 2012 with quarterly trade worth more than 335 billion dollars. The platform has more than 56 million verified users, 8,000 institutions, and 134,000 ecosystem partners in over 100 countries.
How to buy on Coin base
Sign in to Coinbase. Account creation and verification quite like Coinmama
Choose either Buy / Sell on the upper right-hand side.
Select the Buy field to choose the asset you’d like to purchase.
Specify the amount you’d like to buy either in crypto or your local currency.
Choose your payment method.
Click Preview Buy to verify your purchase (you can always click the back arrow to make a change).
If your details are correct, click Buy to complete your purchase.
Buying Bitcoin on eToro
eToro is a social trading network founded in 2007. It is among brokers hosted on trusted brokers.ng. You need to register an account on the platform to buy bitcoin.
Opening an account involves:
Uploading a valid ID (ID Card or Passport) and a proof of address (electricity, water bills, etc.), through eToro’s platform. Approval takes less than a day.
To buy Bitcoin on eToro:
Select a bitcoin exchange or trading platform, in this case, the eToro trading platform
Ensure your account is verified
Deposit through your preferred deposit method and buy bitcoin fractionally.
Buying Bitcoin on plus 500
Plus 500 is a trading platform founded in 2008 which allows for the trading of cryptocurrencies among other commodities such as Forex and ETFs.
It is among the brokers hosted on trustedbrokers.ng. Though it is one of the main trading platforms in the United Kingdom, it is not open to customers from Nigeria.
Buying Bitcoin on marketplaces such as Localbitcoin
LocalBitcoins is an escrow service that serves as a crypto marketplace helping to match bitcoin buyers and sellers. Users are free to advertise trades for any payment method they choose. Below are five steps you can follow to buy bitcoin:
After registration, go to the main page, and search for offers.
Step 3: Select an advertisement
From the list shown, select offers.
Step 4: Pay the seller
Evaluate the offer and pay
Step 5: Mark payment complete
Click the paid button and the transaction will reflect in the wallet
How to store Bitcoin
In the same way money or cards are stored in a purse or handbag containing a wallet, bitcoins are also stored on the phone or computer desktop hosting a digital wallet whether web-based or on hardware.
Bitcoin Price Outlook
Though Bitcoin has struggled over the past few months, even falling by more than half in April 2021, many analysts that bitcoin may overtake the U.S dollar as the dominant form of global finance by the year 2050 which puts the price of Bitcoin at above $66,000 by the end of 2021.
Binance P2P platform gives sellers of crypto the avenue to meet buyers with no hindrance and fees. It is fast becoming the preferred way to trade crypto in Nigeria.
Nigeria is presently the second leading global center for online searches conducted for bitcoin after America according to recent Google data. The range of uses for cryptocurrencies in Nigeria includes remittance for imports, support for family and friends as well as settlement of other bills.
The unfolding scenario makes Nigeria a huge market for crypto service providers, and with Binance as a formidable global leader, we have set out in this guide all you need to know about Binance P2P, and how it works in Nigeria.
What is P2P trading?
When a trader and a seller get matched on a cryptocurrency trading platform with no intermediary taking custody of fees or value thereof, it is a Peer-toPeer setting at work. with Binance, users of the P2P platform are able to buy and sell crypto with ease using their wallets and bank accounts or agreed payment methods.
What to know before getting started?
You need to have a registered account
Provide KYC details like proof of ID, BVN, and a phone number
Binance holds on to the crypto in escrow till the seller confirms receipt of payment
The seller should not release the crypto without confirming that expected payments is received
A private messenger is available on the platform for ease of buyer to seller chat or to contact customer support.
All of these above safeguards are necessary to avoid sellers and buyers losing funds to fraud, and the process is credible if adhered to always.
How can you make money with P2P trading?
Any market where there are sellers and buyers offer a chance to make money, and Binance P2P platform is not different.
Many people are online and looking for ways to bypass the forex shortages in the country and cryptocurrencies are a formidable pathway. You can trade NGN, DAI, BNB, BTC, XRP, USDT BUSD and ETH on the platform.
1. Work with clear terms
On your sales page, state your transaction terms in simple and clear terms and be sure to abide by these terms. You can state:
Make payment to the recipient provided and send me an SMS
Or please send a private message after payment or send an SMS
Expected turnaround time is 15 minutes, please be patient
If for any reason you are not able to meet the terms, be prompt to communicate this to the buyer to avoid a dispute initiation.
2. Use a reasonable profit margin
For example, if BTC/USD is 40,000, selling at $40,500 will net you more buyers than using $42,000, this is as there are many buyers and sellers on the platform. Several transactions over a month can earn you up to $4,000 in fees instead of waiting for three months to make a single sale with a high margin.
3. In-demand payment methods are preferable
Whether it is you setting your terms or working with someone who does, you need to stick to in-demand payment methods. Do not make assumptions or vague descriptions.
Be bold to say, “Pay to XYZ Bank only” or ‘’Send cash with a money agent only”. Either way, the funds can only be sent to the account or recipient that you have provided.
4.Be friendly with helping new traders
On the platform, you are going to come across new traders, and they might not be familiar with the processes. If you come across one, be patient and provide some guidance. The Binance P2P platform has a private message function that is free of charge to use between sellers and buyers, you can message the buyer to make clarifications.
5. Be responsive
it is your personal duty to be responsive and make sure that you respond to enquiries in a timely manner to keep good ratings. If more buyers rate you poorly and line up complaints on your profile, you will lose your patronage and be out of business in no time.
How to become a verified merchant?
The process here is simple and you need to adhere to the requirements to be accepted:
Open a new account and be registered
Be KYC-compliant and at least 18 years old
Provide a utility bill as proof of residence
Have a fiat bank account in your name with at least $100 or its local equivalent
You also might need to shoot a small video, holding your ID card, and an inscription that is required of you in order to validate your ID.
With these steps completed above, you will be able to get an approval to become a seller in Binance P2P platform.
Are there risks in P2P trading?
There is a good chance to make money with the P2P platform and there are inherent risks too that are worth highlighting. The safeguards are also shown side by side.
Avoid losses as a seller by refusing to take your trades outside the platform so as not to fall prey to scams. Binance provides escrow account to house your crypto till you have confirmed receipt of funds
Take an additional step to log into your banking platform to confirm your buyer’s deposit to avoid releasing crypto when payment is not made
Use a second phone number different from your bank alert phone number as unscrupulous people can send fake alerts to your phone perpetuate fraud
If a payment claim is made by a buyer and it does not reflect in your account, you can file an appeal to get come information and customer support assistance.
Tips to get more trades
You can get more trades by using these tips:
Use your referral code and share on social media
Post the link to your seller’s profile on your social media pages or crypto-themed groups
Join the Binance Africa/Nigeria Telegram group and you can win some referrals there.
How to buy on Binance P2P Platform
Binance is a cryptocurrency exchange platform that was created in 2017. It also provides cryptocurrency users with wallets to store their cryptocurrencies.
Fill in your email address and select a secure password. If your friend gave you a referral code, you can also input it in the “optional Referral ID” space created.
Follow the steps given for verifying your account by clicking the code sent to your email address or mobile number.
You may also be required to upload an ID or document or level 2 identity verification. Please follow all the instructions given for easy verification.
Currently in Nigeria, the easiest way to buy Bitcoin on Binance is the P2P platform , which does not necessarily need you to make a deposit
How to Buy Bitcoin on Binance
Because of the regulations on cryptocurrencies trade by the Central Bank of Nigeria, a new way was devised by exchange platforms such as Binance to make buying Bitcoin easier. This new way is what is called Peer-to-peer transactions or P2P. It connects buyers to sellers directly with no transaction fee unlike other platforms on both app and website.
This method allows you to buy bitcoin from several sellers online. Below are the three steps to follow to buy your bitcoin successfully.
Step 1: Pick your preferred currency and payment method.
Click on the P2P section.
Select the Buy tab and the BTC crypto. Then click on the filter icon at the top-right part of your screen
Select your preferred method and currency. As a Nigerian, you are to select Naira and Transfer via Bank.
Step 2: Make transaction
Choose an offer from the offers displayed
Input the number of coins you want to sell, choose a payment method, and click on Buy BTC.
Thereafter, make a transfer to the seller’s account using the information provided before the time lapses. You may also chat the seller up.
Ensure that you send the money to the seller and tap on Transfer next.
Step 3: Bitcoin transferred to your wallet
Click on Confirm. Avoid doing this if you have not made any transactions. (It is a violation of the P2P User Transaction Policy).
Thereafter, the status of the transaction will display pending.
After the seller can successfully confirm, Bitcoin will be transferred to your wallet.
DeFi has shown people around the world that crypto investing can yield good returns. Here is how yield farming works on Monnswap.
MoonSwap is an amazing DeFi project comprises an AMM dex that offers holders and traders significant profit-making opportunities. It runs on Ethereum layer 2 and comes with benefits, like zero gas fee and fast transaction processing.
Since becoming an innovative, workable product in 2021, MoonSwap is predicated on an execution timeframe of 20 seconds or less, thanks to the implementation of Conflux’s Tree Graph (TG) technology.
With a one-click process, you can convert your Ethereum tokens to MoonSwap tokens, also known as $MOON. Joining MoonSwap protocol comes with significant incentives. As such, liquid providers consider this AMM DEX their haven to make profits, including MoonSwap tokens, also known as ERC20 assets.
Holders can avail themselves of MoonSwap profit opportunities via different means. They can become MoonSwap LPs (PLPs) and earn MoonSwap tokens, transaction fees, highly appreciating FC (offered by the Conflux community), and tokens from MoonSwap’s airdrop partners. As the community expands, more incentives will come into the scene.
Farming with MoonSwap
MoonSwap can yield huge returns annually. However, you need to be a pool provider. But you cannot be if you don’t have a Web3 wallet. Hence, you can create an account with any of the following:
This wallet is what you use to move your Crypto token to the Conflux blockchain. You can get a ConfluxPortal extension. Using this extension, select the address located at the top-right area of the homepage. This will redirect you to the exchange page, where you can move your tokens. for example from ETH to cETH.
When conduction transactions on the blockchain, you do not have to pay any fee. The network takes care of that. Click approve to grant authorization on the transaction.
Becoming a Liquidity Provider (LP)
Adding liquidity to the pool is a simple process. To get the most profit, you have to be the first person to join the pool. As such, when other members conduct transactions in the pool, you earn significant profits.
However, joining the pool requires two equivalents of the tokens needed. For example, you need an equivalent of 1 ETH in USDT, which is around 2473.
Once done, you can confirm the transaction to move part of your asset to the pool. By doing so, you become an LP. Your fee income can be pegged at 0.3%. Joining the pool as the first LP gives you access to 100% of the pool’s gains. But there are risks as well, which you should take note of.
Available pools fall under Conflux, Ethereum, and the basic farm where the $MOON balance is displayed. If you have $MOON-Ethereum pair in the LP pool, you can earn tokens (PLP).
Claim your accumulating $MOON token at a zero-gas fee. Connect your Ethereum wallet to the MoonSwap to harvest your accumulated tokens automatically. Understand that farming on Conflux is easier and cheaper than on Ethereum.
How to Buy $MOON
To purchase your MoonSwap tokens, you should visit the Ethereum mainnet. Once on the platform, enter the activated token address (contract):
Some untrusted sources provide fake tokens. As such, be mindful of your transactions. It is important to have enough ETH balance in your wallet. If you do not have a wallet, create one. You will use your Ethereum wallet to make payments and also get the MoonSwap. Visit a reliable exchange, like Uniswap or Binance to get MoonSwap.
How to Trade Your Coins
You need a reliable crypto exchange to sell your coins. Some exchanges have huge trading volumes and active users that conduct transactions daily. Look for those with MoonSwap listings and register. Being on such platforms provides you with the opportunity to conduct transactions anytime. They also come with excellent trading opportunities.
Farming and investing in pools come with high risk. There may be financial losses, especially if the token is of a losing price over time. Also, there is a 0.3% trading fee. 0.25% of it goes to the liquid provider, which 0.5% is used to purchase $MOON from MoonSwap. As such, the $MOON can be destroyed.
Flowing from the above, you have to understand the risks before investing – all investments come with specific levels of risks. But above these factors, there are high potential rewards as well.
The Bottom Line
As a recap for individuals who want to farm on MoonSwap, visit the mining page and select the mining pool you want (if you are not creating one). Hold the PLP token that corresponds to the pool. Mine and stake the MLP token.
Your mining process has begun. You can “stake” and “unstake” your accumulated tokens and harvest them to your Conflux wallet. Once, you have understood the risk, reward, and process, you can decide if this DeFi is worth embarking on.