Below is a Practical Example of Staking $1 Million USDC
Staking is just putting at stake your coins to generate income. Assuming you are an investor and you have an account, this is a practical way to go about staking $1 Million USDC:
After going to the Waves Exchange App and logging into your account, scroll to “Investments” and click the USDC Staking tab. It will show your balance for both assets and funds. You will also see your past transactions and the average yearly staking interest. Now go to the Deposit tab and click. In our case, we are depositing 1$ Million USDC. The rewards (assets) calculated instantly using the prevailing interest rate are always visible there.
After, confirm the amount you will be able to receive and, being satisfied you read the conditions, go to the “I understand” tab and click “Stake USDC”. That is all that will be updated once a notification for a new block is ready. In our case, we are staking $1 Million USDC.
Here are the calculations:
Currently, the annual yield stands at 31.08%. For one year after staking $1 Million USDC, this is what you will be able to get:
1,000,0000 * 31.08% = 310,080 USDC per year.
To get a monthly estimate is simple - per year income divided by 12 months:
310,080 USDC /12 Months = 25,840 USDC per month.
If you want to calculate your average daily income, it will be the monthly earnings divided by the number of days in that particular month. In our case, it is May that has 31 days, so:
25,840 USDC/31 days = 834 USDC per day.
An inbuilt staking calculator will guide you through. If you don’t have a million dollars, that’s okay. You can follow these same simple steps with what you have.
Want to learn more? Click on this link to start one-on-one tutoring and learn how to set up your account.