Currently it is expected that you can earn up to 7% per year by staking LUNA 2.0. How does that work via Terra Station and will exchanges such as Binance and Bitvavo also offer this?
LUNA 2.0 strike on Terra Station and exchanges
Striking can be seen as a form of passive income. You get a kind of interest on your Luna tokens. The Luna network is secured by so-called ‘validators’. These validators check transactions on the Luna network. To do that job, these validators need Luna tokens. They can use their own Luna tokens for this, but they can also use other people’s Luna. So you can delegate your Luna to different validators. Validators therefore get more tokens to validate. Then the validators get a small part of the reward for validating and you get the rest of this reward.
Via Terra Station we know that you can easily stake Luna tokens. You click on the ‘Stake’ button and then you can find out yourself with which validator you want to stake your tokens. Pay attention to the validator’s commission; each validator receives a different percentage of commission. After selecting the validator, simply click on the ‘Delegate’ button. You can now specify how many Luna tokens you want to delegate to this validator. There is currently little information about the discontinuation of Luna 2.0 at exchanges such as Binance and Bitvavo. At the moment, Luna is not yet in the list of available currencies for strike services from Bitvavo. If you want more clarity about the discontinuation of Luna at your exchange, please send an email to the relevant exchange.
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