Delegate Your NYM
Welcome to the ultimate guide for delegators who wish to stake their NYM tokens effectively and earn maximum rewards while contributing to the security and performance of the Nym network.
What is Staking in Nym?
Staking involves temporarily locking up your NYM tokens on a specific node to signal confidence in its performance. This trust score improves the node’s chances of being selected to route user traffic, allowing you to earn rewards in return. By staking, you’re not only earning but also contributing to a global privacy-enhancing infrastructure.
Why Delegate Your NYM Tokens?
Delegating your NYM tokens enables you to:● Earn rewards based on the performance of your chosen node.● Support network decentralization, enhancing privacy and security for everyone.● Participate actively in the Nym ecosystem, even without operating a node yourself.
How to Start Delegating
1. Get NYM Tokens● Purchase NYM tokens on major exchanges like Bitfinex, Kraken, Bybit, Gate.io, or HTX.● Join the Nym community for seasonal challenges and earn tokens through contributions.2. Select a Node● Use the Harbourmaster Explorer to browse available nodes.● Look for nodes with:● A performance score between 90-100%.● Up-to-date software versions.● Compliance with terms and conditions to ensure eligibility for rewards.3. Stake Your Tokens● Choose a node with moderate saturation levels (avoiding nodes close to the 1.1 million NYM saturation point).● Stake on nodes in the Nym Delegations Program for added assurance of performance and configuration compliance.
Maximizing Your Rewards
To optimize your returns:● Select nodes with consistent performance.● Diversify your stake across multiple nodes to mitigate risks.● Regularly review your delegated nodes to ensure they meet performance standards.
What APY Can You Expect?
Staking rewards vary depending on the node’s performance and configuration. Key factors affecting APY include:● Node uptime and reliability.● Stake saturation (avoid over-saturated nodes).● The operator’s bonded tokens and operating margins.
How Can I Join the Network?
To join the Nym network and start earning rewards:● Acquire native NYM tokens. These are available on major exchanges such as Bitfinex, Kraken, Bybit, Gate.io, and HTX. Alternatively, participate in Nym community channels and missions to earn tokens.● Stake your NYM tokens on a high-performance node to begin earning rewards and contribute to the network’s security and scalability.