Staking 1inch tokens is a great way to participate in the 1inch instant governance process, while simultaneously generating passive rewards. Any amount of 1inch tokens can be staked and the APY % for staking is variable.
***Gas fees: For staking on Ethereum, it is recommended to have at least .02 ETH to ensure gas fees are covered. For Binance Smart Chain, it is recommended to have at least .01 BNB.
How to stake:
To stake your 1inch tokens, first tap on the little growing flower icon at the bottom of the screen.
Next, slide the race car to stake the tokens.
***If this is your first time staking, you will need to unlock/approve the tokens for use.
Select the amount of tokens you would like to unlock, then tap "Unlock". On the following page, tap "Approve"
Once approved, select the amount of 1inch tokens you would like to stake, then tap "Stake 1inch token". On the following screen, review the details and tap "Confirm Stake".
Now your transaction has been submitted, and can be viewed with the link provided.
Once the transaction confirms, you will see the newly staked tokens on the main staking screen, and can watch the rewards accrue in real time!
You have now successfully staked your 1inch tokens.