NULS, an open-source blockchain project, started its crypto journey in 2017, and has been listed on most industrial top-tier centralized exchanges since 2018. As the underlying token in NULS blockchain, it benefits its holders in many ways. From the perspective of a holder, we always want to take the best advantage of the coins we have in our hands. In this article, we will summarize a few ways to make your NULS assets constantly generate passive income for you, besides its financial usage, we will also talk about it briefly at a community governance level.
NULS is a POS blockchain, it operates according to the most fundamental POS blockchain principles. NULS holders stake their coins on NULS main net to protect the entire network and receive NULS incentive as rewards. You need to stake a minimum number of 2000 NULS to join the consensus. The current APR of the staking option stays around 12%.
To start the main net staking, you need a decentralized wallet to transfer your NULS asset from off-chain, for example, from Binance exchange to NULS blockchain.
The website https://stake.nuls.io/ is where you can start to stake. As shown in the image below, to start the consensus staking, you need to select a node that you think is the most suitable, because your NULS assets will be delegated to the node your select. You can find the best candidate from our community and our forum, our ambassadors are always active and responsible for their work, meanwhile, they are also running nodes that you can select as your delegated node.
Once you have found your preferred nodes, click “Stake”, and you are all set!
POCM (Proof of Credit Mining) is an SCO Platform that allows projects to use smart contracts to issue and distribute project tokens on blockchains. Got NULS? Stake into a project’s nodes and earn their token as reward, while the project earns NULS as reward. Projects can use the NULS consensus rewards to bootstrap and help fund development. Unlike IEOs and ICOs, stakers never risk their principal, and NULS never leave their wallet. Earn project tokens while your device is off! As a universal SCO Platform, POCM can be used to issue and distribute tokens and assets from any public chain in any blockchain ecosystem.
We have explained how does POCM platform works several times, so we will not elaborate on the content once again today. There are over 40 projects currently running on POCM platform, from DeFi startups to GameFi projects, from NFTs to MEME coins, just check them out on https://pocm.nuls.io/pocm/Projects/ProjectsList, find your favorite, and start to earn today!
If you have any issues on staking, I believe you will find an answer in the article below.
App to earn more NULS
On October 2022, the world’s biggest centralized exchange —
, supported NULS on its BinanceEarn section, meaning that every crypto user can now stake NULS to earn NULS directly without leaving the Binance App. This staking method provides around 6% APR for the investors, lower than consensus staking (11%), but it is completely operated off-chain, which makes it much more friendly for new crypto users. Furthermore, it is an alternative solution for those who want to earn the consensus rewards but trade frequently at the same time.
How to stake NULS on BinanceEarn?
Visit https://www.binance.com/en/simple-earn, to find simple earn.
After you arrive at the Simple Earn page, find NULS, go to “Subscribe”
Enter the amount of NULS you want to put in BinanceEarn, click “Confirm”
Now you have successfully unlocked this feature! Congratulations!
With all the financial uses being discussed already, now let’s talk about NULS at a community governance level.
Any NULS holder can create a proposal and participate in the NULS voting process. Proposals are reviewed by the Board of Directors on the Community Council and then opened for public voting. Proposals can apply for funding, issue technology, and development changes, add contributor roles, or request the withdrawal of various contributor roles.
For example, on the NULS forum page you can find the latest proposals which you can vote for :