Justin Sun Highlights Returns from Staking: TRON's sTRX Offers Higher Yields

IconCryptoNewsTerminal Staff15 Aug, 2024

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Justin Sun Highlights Returns from Staking: TRON's sTRX Offers Higher Yields

Justin Sun, the founder of TRON, recently tweeted about the attractive returns he's earning by staking ETH on Lido (LDO). According to Sun, he's currently earning a 4% risk-free return on his staked ETH. Sun also pointed out that TRON users can take advantage of a similar opportunity by staking TRX through the sTRX product. sTRX offers an annualized return of 24.84%, significantly higher than the 4% return offered by Lido. What is Staking? Staking is a way to earn rewards for holding certain cryptocurrencies. When you stake your coins, you're essentially lending them to the network to help secure it. In return, you earn rewards in the form of new coins. The amount of rewards you earn depends on the coin you're staking and the length of time you stake it for. Some coins offer higher returns than others, and some coins require you to stake for a longer period of time. If you're looking for a way to earn passive income from your cryptocurrency holdings, staking is a great option. It's a low-risk way to grow your portfolio, and it can provide you with a steady stream of income.

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