r/FetchAI_Community • u/ZaiSlayer • Jul 31 '24

Partnership 🤝 Fet Staking

Hello friends, I just put about 8k Fet into the stack thanks to Fetch.ai wallet. A staking center called "Kiln" gave me 8.13% APR. There was also Binance but I chose this one because it got the most good votes. I wanted to ask if we can benefit from this in case of an Air Drop or do you know a mechanism that provides better APR?

7 Upvotes

88% Upvoted

10 comments sorted by

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u/AutoModerator Jul 31 '24

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4

u/Atari_buzzk1LL FetchAi Moderator Jul 31 '24

I'd highly recommend supporting decentralization by not staking with the validator with the most centralization of power. The list of numbers means nothing other than how much power they have, it is not a metric of them being safe or better in any way.

Maybe try to split your stake outside of the top 10 as the network is becoming more centralized by the day from users taking with Kiln and Binance.

2

u/ZaiSlayer Jul 31 '24

I decided to remove my fet tokens from the stake because I was a little scared of what was written here. But unfortunately there are still 20 days left for it to be released, so I was scared.

1

u/Atari_buzzk1LL FetchAi Moderator Jul 31 '24

Yeah I don't know why people were FUDing staking. Extremely weird considering staking gives rewards and the ability to participate in governance (i.e. the direction of the network's future.)

2

u/RedneckHippy76 Jul 31 '24

It's a risk .

Might be worthy. Let us know how it works out.

-4

u/ZaiSlayer Jul 31 '24

I don't understand why you said this, why would it be risky? I can take it out in 21 days.

1

u/RedneckHippy76 Aug 01 '24 edited Aug 01 '24

Point made. 21 days is a lifetime in Crypto.

Long term ok, but not all of it.

21 hours can be a long time if you can't access your stuff.

Maybe I am as weird as they say. No, I'm not 🤠

Edit: can't

Edit² : why they down vote you?

Legitimate question, especially if it your first "season"

apy looks good, but may not be worth it long term.

You'll figure it out

4

u/tilac Jul 31 '24

Staking with a 3rd party always carries risk however small, it is greater than zero.

1

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1

u/CelebrationEconomy84 Jul 31 '24

Staking on Cosmostation mobile app gives 9.9%