A DeFi staking platform allows users to lock up their cryptocurrency in a smart contract to earn rewards over time. Staking involves participating in the proof-of-stake (PoS) consensus mechanism, where users support network security and transaction validation by committing their assets. DeFi staking platforms remove intermediaries, enabling users to stake assets directly on the blockchain, often with higher returns than traditional financial systems. These platforms typically provide users with greater liquidity, reduced fees, and transparency, while rewarding participants with interest or governance tokens.
Jack Farris
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