Callisto Network

<h2 id="header-0">Passive Income Made Easy &amp; Safe</h2>If the early days of 2023 say anything about the crypto market overall, it’s that a bullish feeling is clearly reemerging.Prices for many major cryptocurrencies are on the rise, and as DefiLlama data indicates, investors are pumping more and more volume into DeFi and staking protocols in pursuit of passive income. So far, the staked/DeFi total locked value has jumped from $44.5 billion in January 2023 to $59.1 billion in early February 2023 – a nearly 33% increase in just over a month.Callisto Network has been working on and improving staking since 2018, when it first launched a unique take on staking: “Cold Staking” – a new and fundamentally different way to pocket passive income from staking the Callisto Network ($CLO) coin.<h2 id="header-1">The First Cold Staking Cryptocurrency</h2>In staking processes like those tied to Ethereum’s proof-of-stake protocol, crypto owners bind their crypto to the network as part of the consensus mechanism that secures it. Callisto Network’s Cold Staking operates differently; It’s not aimed at securing the network or helping manage the consensus mechanism. As such, there is no need to run a node, no need to make your wallet available online 24/7, and no need for technical skills or specialized hardware that are often necessary in the world of staking.Instead, Callisto Network’s Cold Staking is a simple, user-friendly process that Callisto Network created to emit CLO coin, as detailed in the Callisto Network Monetary Policy.In short: Cold Staking is about “freezing” coins temporarily without CLO holders having to do anything beyond that. As such, Cold Staking is a far more environmentally friendly approach to staking and earning passive income. It’s much easier and doesn’t require a minimal deposit too.At its core, Cold Staking requires nothing more than depositing funds into a smart contract for a minimum of 27 days, corresponding to “1 round”, with the maximum freezing period being 12 rounds. Rewards are claimable after the end of each round.To maximize the long-term investor’s reward, Cold Staking introduces the ”multiplier” concept; rewards are based on multipliers that change depending on how many rounds a staker’s coins are staked. The minimum multiplier is 0.45 for a round of 27 days, with a booster of 0.05 added for every additional round. At most, a Cold Staker can get a 1.0 multiplier, representing an APR of approximately 8% as of 2022.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/78775ec88cca45c2b8515fec7096ed2d.png" /><h2 id="header-2">Why 27 Days?</h2><a href="https://twitter.com/Dexaran" rel="noopener noreferrer nofollow">Dexaran</a>, Callisto Network’s founder and chief technology officer, calculated that traders often make decisions based on technical charts and monthly candle closures. Therefore, it’s better for traders to have their coins available when the time comes to make a trading decision. By depositing funds at the beginning of a month, traders can reclaim their stake right before the one-week candle and one-month candle close, which can determine their next investment decision.Rewards earned from Cold Staking are a function of the time CLO coins are staked and the amount of CLO in the reward pool. The Cold Staking contract collects 40% of all the mining rewards earned, then distributes them to Cold Stakers based on their proportional ownership of the staking pool.<h2 id="header-3">Cold Staking Keeps Your Funds Safe</h2>It is widely recognized that the Callisto Network is one of the most secure blockchains, so stakers can feel safe that their coins are secure. <a href="https://callisto.network/cold-staking-security-audit/" rel="noopener noreferrer nofollow">The Callisto Security Department audited the Cold Staking smart contract</a> and subjected it to a “<a href="https://github.com/EthereumCommonwealth/Roadmap/issues/52" rel="noopener noreferrer nofollow">Bug Bounty</a>” to ensure it was rock solid.As we head back into what appears to be a new, upward-trending crypto market, earning passive income from staked assets is once again gaining popularity. With Callisto Network’s Cold Staking, that process is as simple as it gets.

Cold Staking with Callisto Network: Secure and User-Friendly Passive Income

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Callisto Network

Alte articole publicate pe 9 feb. 2023

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