6% of the initial token supply (60,000,000 PALM) will be distributed to users by staking PALM. Staking Pools are the simplest way to earn free tokens on Palmswap.
In each BNB Smart Chain Block, 1 PALM is generated and allocated to Stakers.
Benefits of staking
Discount on trading fees
Earn more PALM tokens
Participation in Governance votings
Participation in Palm Pad projects
Increase affiliate commissions from referral program
Withdrawals
Withdraw: After submitting a withdrawal, stakers have to wait for a total of 7 days (Cool Down Periode). After the Cool Down period has ended, tokens can be withdrawn from the pool.
Reinvest: The cool down period doesn't apply on compounding. Compounded tokens will immediately be credited to the staking balance.
Frequently Asked Questions
How do I earn staking rewards?
Stakers can deposit PALM at any time into the staking pool and start earning rewards immediately. Rewards can be claimed at any time and are withdrawable after 7 days (Cool Down Period).
How do I deposit and stake PALM?
To deposit PALM into the staking pool, follow these steps:
Go to Staking Pools
Click on “Stake”
You must enable PALM the first time you deposit.
Enter the amount of PALM you want to stake.
Click “Confirm”. You need to pay gas fees to stake and unstake funds.
Staked funds are now active and start earning rewards immediately.
What is the Cool Down Period?
A Cool Down is a period of time during which users cannot request withdrawals of staked funds. A staker must request withdrawal in order for the funds to be transferred from Staking Balance to Cool Down period.
For compounding, there is no cool down period.
After 7 days the funds in the cool down period are available to withdraw.
How do I withdraw funds from the staking pool?
To withdraw PALM from the staking pool, follow these steps:
Go to Staking Pools.
Click on the “minus sign”, and enter the amount of PALM you want to request to withdraw from the pool.
Click “Confirm”.
Your funds will now be transferred from staked balance into the cool down period.
Funds can be withdrawn to the wallet after 7 days cool down period.
How does Compound work?
To compound PALM rewards back to the Pool, follow these steps:
Go to Staking Pools.
Click on "Claim", and enter the amount of PALM you want to request to reinvest into the pool.
Click "Compound"
Compounded funds are now active and start earning rewards immediately.
