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How OpenStake works?

OpenStake is a staking platform that allows users to earn rewards by holding their staked tokens in a smart contract. The platform simplifies the staking process by removing the need to run a validator node. Instead, users only need to deposit their tokens into a smart contract (nominator contract) on the TON network, and the staking rewards are awarded automatically.
The staking process on OpenStake works in the following way:
  1. 1.
    Users deposit their tokens into the OpenStake's nominator contract, user will receive osTon token.
  2. 2.
    The smart contract automatically collects the staking rewards from the TON network.
  3. 3.
    The staking rewards are distributed to the users' wallets using rebase token, proportional to the number of tokens staked.
Users can earn an estimated annual percentage yield (APY) of up to 5%, depending on the amount of the token they are staking and the network's overall staking rate.
In addition to staking, users can engage in on-chain activities such as lending and mining. OpenStake allows users to lend their tokens to other users and earn interest on their holdings. They can also participate in mining activities on the TON network and earn additional rewards.
Overall, OpenStake makes it easy for users to participate in the TON ecosystem while earning rewards on their digital assets. The platform simplifies the entire process, making it accessible to a wider audience with minimal technical knowledge.