Revuto’s native REVU token is even more useful than you think. Not only does it help you manage and save on your subscriptions, but the Cardano-based asset can help you earn even more REVU and gain access to new products when you stake them. Essentially, staking helps you maximize your REVU tokens into rewards, and at the same time supports the blockchain infrastructure on which Revuto is built.
If you’re wondering what staking is and why you should participate, the following guide will explain this core function that’s baked into the REVU token.
What Staking REVU Means for You
First off, for users, staking is a way to gain rewards in the form of REVU tokens that you don’t want to immediately spend. It’s something you can do with your REVU other than letting it just sit in your wallet.
From a financial point of view, staking is like giving a bank your money to hold onto for a while, like with a savings account or CD. Since the bank benefits from holding onto your funds, they incentivize the process by giving you more money back after they hold onto it.
The same principles that apply to banking apply to staking tokens with Revuto as well. The more REVU tokens you stake with Revuto, and the longer you stake them into the Revuto dApp, the more rewards you receive. These rewards include extra REVU in your account when you unstake your tokens, and you will also gain access to enhanced products and services.
How Staking REVU with Revuto Helps
Before we elaborate further on how Revuto staking works, let’s zoom out and consider the concept as it applies to blockchains in general.
For a blockchain that runs on Proof of Stake (PoS), like Revuto’s native blockchain Cardano, staking is an integral part of ensuring valid transactions and overall network security. In a blockchain that runs on Proof of Work (PoW), like Bitcoin and Ethereum, the security and validity of the network is maintained by thousands of computers, so staking isn’t as important.
PoW blockchains use computing power to validate transactions, so not only is running PoW expensive, it depends on a lot of energy that isn’t great for the environment. Instead of using PoW and accelerating climate change, Cardano uses a model for adding and checking transactions that calls for staking (or “locking”) tokens instead of doing lots of computationally-intensive work. This blockchain model, PoS, is great for the environment, but it requires a significant amount of tokens to be staked to maintain network security.
In PoW blockchain models, the more computing power someone has, the more transactions they can validate. In PoS models, the more tokens someone has, the more transactions they can validate.
Validators can only handle an amount of transactions equal to the money they personally have. This makes sure validators are honest, because if they aren’t, they risk being penalized.
When you stake your REVU tokens for 6, 12, or 18 months, you are not only going to receive rewards for doing so, but are helping maintain the health of the system Revuto runs on. And staking is just one of the use cases built into the REVU token. In one of our next updates, we’ll dive deeper into what the REVU token can do, not only for you, but for the subscription payments industry at large.
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