REX staking & savings: All you need to know
Why Telos REX Rewards are unique
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This educational guide explains the logic of REX staking and REX savings on Telos.
You may know that staking for rewards means you lock up your token by staking and get paid a yield on what you’ve locked up.
This staking reward is accessed by lending TLOS to the REX (Resource EXchange) i.e. staking for rewards.
You can access a guide on how to stake TLOS, and move staked TLOS to REX savings here.
Telos REX rewards are unique because:
- Telos is a 0% inflation chain, so your rewards are more valuable
- Telos is easy to stake, so you can just stake-it-and-forget-it
- Telos is much more than just staking. As a 3rd generation blockchain, Telos has fast transactions, no gas fees, high scalability, and its very own governance and decentralized file storage.
1. Telos has no inflation
Telos is now a zero-inflation chain. All Staking rewards are drawn from a dedicated reserve which fuels attractive rewards for our community.
2. Telos is easy to stake
Anyone with TLOS is eligible for Telos staking rewards.
Important Note: There is a 4-5 day maturing period on those REX until they are liquid and you can move them out of REX.
3. Telos is a 3rd generation blockchain
Telos has a real purpose beyond just staking rewards.
Most crypto projects with staking rewards don’t have much else going on - they’re trying to be a currency and until they succeed in that the coin actually doesn’t have much real value. Everyone’s just in it for the staking rewards.
But Telos is one of the most advanced blockchains in the world. It runs smart contracts with half second block times and no gas fees. It has the second highest record for the most transactions per day on Blocktivity and has some of the most advanced governance of any blockchain project.
Telos also has a full toolkit for letting any dApp take all of these voting and governance tools for their own projects. It also has it’s very own blockchain-controlled storage system that almost every dApp needs and almost no chain but Telos has.
A lot of exciting web 3.0 projects are starting to deploy on Telos because all these advantages. And that gives Telos real valuable beyond just staking.
How REX savings work:
REX Savings adds an additional layer of security to your TLOS staked to REX.
When you stake TLOS to REX, there is a 4-5 day period before the TLOS becomes liquid to unstake it. You then have the option to move your staked TLOS to REX Savings. This locks the TLOS which makes it impossible for someone else to move.
The savings account is not for extra rewards, it is just for an extra layer of security. Savings locks up your tokens 4 days from the unlock command instead of having them instantly available after 4 days of initial staking.
REX Savings, EOSio Support. https://eosio.support/rex-savings-telos-eos/
* Content adapted from a video posted by Goodblock on 24 Sept 2019.