News
3
min read

Project TXA Staking FAQ

Written by
Logan Smith
Published on
January 18, 2023

As our partners at Project TXA continue their highly anticipated staking campaign, we wanted to help answer some of the frequently asked questions that you might have regarding staking $TXA.

How long do I need to stake my $TXA to earn rewards?

$TXA must be staked for 6 months to earn the 50% annualized reward.

What is the annualized reward rate for staking $TXA?

People who stake their $TXA for the full 6-month lock-up period receive 50% annualized rewards in $TXA.

When does the staking lock-up period begin and end?

The $TXA staking lock-up period begins on March 1st, 2023, and runs for 6 months, ending on September 1st, 2023.

Can I withdraw my $TXA before the lock-up period is over?

No, all $TXA staked will remain in the secure staking contract for the full 6 months, earning 50% annualized returns the entire time.

Can you explain what the 1:1 burn-to-stake ratio is for $TXA?

For every one $TXA that somebody stakes, Project TXA will burn one $TXA that they hold in their own token reserve. This means that staking $TXA is a way for the community to lower the total supply of $TXA, creating deflationary pressure on this token.

Does my $TXA get burned when I stake it?

No. Project TXA is burning their own $TXA that they hold in their token reserve; any $TXA that you stake remains in the secure staking contract, earning annualized rewards and ready to be returned to you at the end of the 6-month lock-up period.

I already staked my $TXA in Pool 1 a while ago, do I need to move it to Pool 2?

Yes, you will need to move it to Pool 2, but this is very easy to do. Once you visit the staking website, and begin the staking process, you will automatically be asked to transfer your $TXA from Pool 1 to Pool 2. Simply follow the prompts on the screen.

What is the URL for the Project TXA staking website?

The Project TXA staking website is https://stake.txa.app/ - we recommend typing this into your browser manually for maximum security.

How do I start staking $TXA?

Step 1: Visit the Project TXA staking website at https://stake.txa.app/
Step 2: Connect your MetaMask wallet by clicking the “CONNECT WALLET” button in the top right of your screen.
Step 3: Click the “Stake $TXA” button in the middle of your screen.
Step 4: Select the amount you want to stake, paying close attention to the Redemption Date on the right of the staking box.
Step 5: Check mark the two boxes at the bottom and click on the “CONFIRM AND STAKE” button at the bottom right of the screen to begin to stake.
Step 6: Approve the transaction in your MetaMask wallet.
Step 7: Wait for the transaction to process. Do not close this window – staking usually takes 10-20 seconds to process, but it can take up to several minutes depending on network activity.
Step 8: Success! You have now staked with Project TXA!

If you have a question that is not answered here, feel free to reach out the Project TXA directly either on Twitter or by joining their Discord channel.

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