FIL Staking
Last updated
Last updated
HashKing utilizes smart contracts on the FVM chain to establish a set of intelligent contracts.In the Staking section, users will mint FIL into NFIL at a 1:1 ratio and then deposit the NFIL into HashKing. HashKing will use the received FIL to stake on mining nodes, where the mining nodes will participate in mining on the FIL mainnet by contributing their hashing power.
The profits earned from mining will be divided into two parts: a portion will serve as collateral, and the other part will be returned as earnings to the users.
Users can retrieve their principal in two ways:
Unstaking to Withdraw FIL: Users can unstake their NFIL and retrieve FIL by initiating the unstaking process.
Swap to Convert NFIL to FIL: Alternatively, users can utilize the swap feature to convert their NFIL back into FIL. This allows users to exchange the staked NFIL for its equivalent value in FIL.
Using Unstaking to withdraw staked funds: After the Filecoin mainnet completes the sector's expiration, the staked FIL will be returned to the mining nodes. These nodes will then return the coins to HashKing's unstaking pool.
During the withdrawal process, users use NFIL as evidence to extract FIL from the unstaking pool. At the same time, the NFIL held by the user will be sent to a black hole address for destruction.
To further enhance the liquidity of NFIL, HashKing has established the FIL/NFIL liquidity pool. Users can utilize this pool to convert NFIL to FIL at any time, without any threshold restrictions.
Moreover, users have the option to provide liquidity by pairing NFIL with FIL and staking the FIL-NFIL LP tokens. By doing so, they can earn dual rewards. Firstly, they will receive staking rewards for staking NFIL, and secondly, they will earn additional income from the liquidity pool's transaction fees.
When there is sufficient liquidity in the pool, providing FIL/NFIL liquidity is nearly imperceptible, resulting in higher returns compared to staking NFIL alone. Users can take advantage of this opportunity to maximize their earnings and enjoy the benefits of increased liquidity on the HashKing platform.
