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Club benefit – Staking rewards in YNG

At a glance

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

How APY in YNG works

The YNG bonus is a percentage applied to the stake APY, which is added to the standard reward. The percentage depends on the Club level and the crypto put in staking:

  • Ethereum (ETH) Staking — Essential 1% · Bronze +5% · Silver +15% · Gold +30% · Platinum +70%
  • Solana (SOL) Staking — Essential 0.6% · Bronze +3% · Silver +8% · Gold +15% · Platinum +35%
  • Cosmos (ATOM) Staking — Essential 0.15% · Bronze +0.75% · Silver +2.5% · Gold +5% · Platinum +11.5%
  • Celestia (TIA) Staking — Essential 0.3% · Bronze +1.5% · Silver +5% · Gold +10% · Platinum +23%

Purely illustrative example: you stake 1,500 € in ETH with an estimated APY of 5%. With the Platinum Club you receive a bonus equal to +70% of 5%, which is 3.5%, in YNG. At unchanged values, in a year you would get about 75 € in ETH as a standard reward and about 52.50 € in YNG as a Club bonus. The APY is not guaranteed and the value of ETH and YNG can vary, even significantly.

How to stake a crypto

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

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

Where you find the YNG reward and when it unlocks

  • YNG rewards accrue with the same frequency as standard rewards and accumulate for the entire duration of the stake.
  • You can see the total obtained both in the results summary and in the details of each individual stake.
  • Upon closing the stake the YNG are transferred to your Young Principal Wallet (YNG) and you can use them for trading.

Viewing Club rewards (in YNG)

  1. Open the Young Platform app
  2. In the bottom menu, tap on Crypto
  3. Scroll down and select Staking
  4. Select one of the cryptocurrencies in staking under the Active stakes section
  5. On the next screen, under the Overall results section, you will see the Club Rewards expressed in YNG tokens. These are the tokens you received in addition thanks to the staking of your crypto-assets.

Unlocking and Closing Staking

To unlock and make available the YNG tokens accrued as a Club Reward, you must proceed with the closure of the Stake to which they are associated:

  1. Click on the Close button.
  2. Select all the Stakes you intend to close.
  3. Proceed by clicking on the Close Stake button.

Timelines and details:

  • Crediting time: each protocol has its own closing times. Crediting will take place within the times set by the cryptocurrency protocol.
  • Closing details: on the Overall Results screen, in the General information section, you can view the expected closing time, expressed in days.
  • Crediting frequency: in this same section you will also find the crediting frequency, which applies both to ongoing staking rewards 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 of enrolment (it is not retroactive).
  • If you leave a Club with an active stake, you stop accruing the bonus, but everything you have already accumulated is credited to you upon closing the stake.

Staking is not a crypto-asset service regulated by Regulation (EU) 2023/1114 (MiCAR). Crypto-assets put in staking nevertheless remain in custody with Young Platform, according to the protections provided for the custody service (art. 75 MiCAR).

As part of the ETH Staking Service via the Lido provider, Young Platform holds wstETH in custody on behalf of Users pursuant to art. 75 MiCAR, according to the methods described in the Custody Policy Summary. Young Platform does not allow Users to directly use 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 relative regulatory protections. For the applicable conditions please refer to the Terms and Conditions – Staking Wallet.

Young Platform is the issuer of the YNG Token, a utility crypto-asset pursuant to art. 3, par. 1, no. 9 of Regulation (EU) 2023/1114, described in the relative White Paper notified to Consob. For more information on the YNG token always refer to the White Paper and the YNG token page. In case of discrepancy between the resources linked here and the White Paper, what is indicated in the White Paper prevails. Crypto-assets are high-risk assets: their value can undergo strong fluctuations and you could lose the entire amount invested. Young Platform does not offer financial advice.