Staking is a way to put your crypto to work for you. You can earn passive income by "staking" many different kinds of cryptoassets. Essentially you will be locking up your tokens into a proof of stake contract. Depending on the amount of tokens and the longer you keep these tokens locked up, the more income you will generate. Some contracts offer higher APR than others, which also comes into play when generating yield. More information on staking can be found here.
Staking With FOX
There are several places in which you can use your FOX to generate passive income. Our most popular double-sided staking opportunity is via FOX Farming. This allows you to stake ETH and FOX to (passively) earn FOX. Check out our FOX Farming page here.
Are There Risks?
Anytime you invest capital, there will be risks. Crypto prices fluctuate, a lot. The term "volatile" is used to describe crypto markets all the time. If you plan on holding (HODLing) a cryptoasset for a prolonged period of time, staking is a good way to generate income rather than just having the funds sit in your wallet earning no revenue. Some staking contracts require a minimum time period for the funds to be locked up, and there can also be a set delay when trying to withdraw your funds. If you think you will need access to your funds at any given moment, staking might not be right for you.