What is Staking?
Staking on Young Platform lets you lock your cryptocurrencies to support the network and earn rewards. You can choose between Liquid Staking or Proof of Stake.
How to Stake:
- Access the Staking section on Young Platform Web or App.
- Select the cryptocurrency you wish to stake.
- Enter the amount you want to lock (following the minimum/maximum limits).
- Confirm the transaction.
Minimum and Maximum Amounts:
-
ETH
- Minimum 0.02 ETH, Maximum 10 ETH per single stake.
- Total quantity in stake: 300 ETH
-
SOL
- Minimum 0.3 SOL, Maximum 75 SOL per single stake.
- Total quantity in stake: 4500 SOL
Available Cryptocurrencies:
Currently, Ethereum (ETH) and Solana (SOL) are available.
Staking Options:
- Liquid Staking for Ethereum (ETH).
- Proof of Stake for Solana (SOL).
Locking Cryptocurrencies:
The cryptocurrencies you stake remain your property; they are simply locked on the blockchain during the staking period. You retain ownership of your assets. Additionally, based on the indicated APY, you can estimate the potential rewards you may earn over a year based on the amount staked.
Activation Time
The activation time refers to the period required for staking to become effective after it's created. This process may take a few days, during which no rewards are received. Timelines vary depending on the protocol.
Reward Credit
Rewards are credited at regular intervals, specific to each cryptocurrency and protocol. If applicable, compound interest allows for automatically staking earned rewards, increasing your staked capital. Compound interest is expected on:
- Ethereum (ETH)
- Solana (SOL)
APY
Reward rates are based on estimates generated by validators before Young Platform applies the fees. Actual rewards will only be credited once received from the blockchain protocol. Young Platform does not guarantee a specific yield or reward rate.
Staking Taxation
For residents in Italy, rewards from staking are subject to taxation and reported in the Tax Report for income declaration. They are taxed at 26% before fees.
Staking Duration
Staking on Young Platform is fully flexible. Once activated, you can decide to close it whenever you wish.