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Club benefit – Staking rewards in YNG

In brief

Staking on Young Platform allows you to lock your crypto-assets to support the network and earn rewards in return. If you are a Club member, staking offers you an additional reward: a bonus in YNG tokens, calculated based on your Club tier.

 

How the APY in YNG works

The YNG bonus is a percentage applied to the staking APY, added on top of the standard reward. The percentage depends on your Club tier and the crypto-asset being staked:

  • Ethereum (ETH) staking — Essential 1% · Bronze +5% · Silver +15% · Gold +30% · Platinum +70%
  • Solana (SOL) staking — Essential 1% · Bronze +3% · Silver +8% · Gold +15% · Platinum +35%

     
  • Cosmos (ATOM) staking — Essential 1% · Bronze +1% · Silver +2% · Gold +5% · Platinum +12%

     
  • Celestia (TIA) staking — Essential 1% · Bronze +1% · Silver +5% · Gold +10% · Platinum +23%

     

Example: you stake €1,500 in ETH with a 5% APY. As a Platinum Club member, you receive +70% of 5% = 3.5% in YNG. So: €75 in ETH (standard reward) + €52.50 in YNG (Club bonus), for a total of €127.50.

 

How to stake crypto

  1. From the home screen, tap Crypto.
  2. Scroll down and tap Staking to open the section.
  3. In the New staking box, tap +Activate.
  4. Choose the crypto and the amount to stake.
  5. Activate the stake and confirm.

If you want to add funds to an active stake, see the guide: How to create new stakes. 

If you want to set up recurring staking and gradually increase your staked funds, see the guide: How to set up Recurring Staking.

 

Where to find the YNG reward and when it unlocks

  • YNG rewards accrue at the same frequency as the standard rewards and build up throughout the stake.
  • You can see the total earned both in the results summary and in the details of each individual stake.
  • When you close the stake, the YNG are transferred to your Young (YNG) main wallet, and you can use them for buying and selling.

Viewing Club rewards (in YNG)

  1. Open the Young Platform app.
  2. In the bottom menu, tap Crypto.
  3. Scroll down and select Staking.
  4. Select one of the cryptocurrencies you're staking in the Active staking section.
  5. On the next screen, in the Overall results section, you'll see the Club rewards shown in YNG tokens. These are the tokens you've received in addition, thanks to staking your cryptocurrencies.

Unlocking and closing the stake

To unlock and make available the YNG tokens accrued as a Club Reward, you need to close the stake they're associated with:

  1. Tap the Close button.
  2. Select all the stakes you want to close.
  3. Proceed by tapping the Close stake button.

Timings and details:

  • Credit time: each protocol has its own closing times. The credit will happen within the times set by the cryptocurrency's protocol.
  • Closing details: on the Overall results screen, in the General information section, you can see the expected closing time, shown in days.
  • Credit frequency: in this same section you'll also find the credit frequency, which applies both to the rewards of the ongoing stake and to the YNG rewards provided by your Club.

 

Good to know

  • If you join a Club with an already-active stake, you start receiving the bonus from the day you join (it's not retroactive).
  • If you leave a Club with an active stake, you stop accruing the bonus, but everything you've already accumulated is credited to you when you close the stake.

 

 

 

 

In the context of the ETH Staking Service via the Lido provider, Young Platform holds wstETH in custody on behalf of Users pursuant to Article 75 MiCAR, in accordance with the modalities described in the Custody Policy Summary. Young Platform does not permit Users to directly deploy wstETH in external DeFi protocols during the staking period. Liquid staking protocols and DeFi operations on staking derivatives do not fall within the scope of crypto-asset services regulated by Regulation (EU) 2023/1114 (MiCAR) and are not subject to the related regulatory protections. For the applicable terms and conditions, please refer to the Terms and Conditions – Staking Wallet.

Young Platform is the issuer of the YNG Token, a utility token within the meaning of Article 3(1)(9) of Regulation (EU) 2023/1114, described in the relevant White Paper notified to Consob. For further information on the YNG token, always refer to the White Paper and the YNG token page. In the event of any discrepancy between the resources linked herein and the White Paper, the White Paper shall prevail. Crypto-assets are high-risk assets: their value may be subject to significant fluctuations and the entire amount invested may be lost. Young Platform does not provide financial advice.

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