• Onyx Protocol has announced a partnership with MyCointainer and Earn Network.
• Through this initiative, XCN holders on BNB Smart Chain will receive enhanced staking opportunities with up to 40% APY and cheaper transaction fees.
• The partnership will also create dedicated decentralized staking pools for XCN with two formal staking processes, Flexible or Locked.
Onyx Protocol Partners With Earn Network and MyCointainer
Onyx Protocol is excited to announce a new partnership with MyCointainer and Earn Network to drive the adoption of XCN tokens on BNB Smart Chain. The collaboration seeks to provide users with higher staking rewards of up to 40% APY and cheaper transaction fees when using the cryptocurrency.
Enhanced Staking Opportunities
The partnership between Onyx Protocol, MyCointainer, and Earn Network will create dedicated decentralized staking pools for XCN on BNB Smart Chain. Users can choose from two formal staking processes: Flexible or Locked.
Flexible Staking Process
Flexible Staking is a pool in which users can deposit and withdraw tokens at any time without restrictions or lock-up periods. This option provides liquidity and flexibility as rewards are distributed regularly; users have the option of compounding their earnings by leaving them in the pool or withdrawing them.
Locked Stacking Process
Locked stacking requires participants to stake their tokens for a specific period ranging from 15 days to 30 days; they cannot withdraw their tokens until the lock-up period expires but receive higher rewards compared to flexible stacking in return for committing their tokens for longer duration periods.
Benefits For XCN Holders
By leveraging this innovative partnership, XCN token holders on BNB Smart Chain can benefit from increased staking rewards of up to 40% APY as well as lower transaction fees when using the cryptocurrency.