Staking

Token staking can be likened to depositing your tokens into a specialized account, similar to a fixed deposit in traditional banking. However, unlike conventional instruments, blockchain operates on a public ledger that is immutable. When you stake tokens, you're essentially depositing them into a blockchain smart contract, ensuring high security and transparency as the total locked value is openly accessible for verification by the public.

Staking tokens is always accompanied by rewards because users require incentives to deposit their tokens. By staking tokens, users gain the opportunity to participate in launchpad token allocations, potentially yielding substantial results. This mechanism encourages token holders to contribute to the network's security and functionality while also enabling them to benefit from exciting opportunities.

Step wise explanation for Staking token:

1. Purchase LayerK token on Koinbay

2. Transfer LayerK token from KoinBay to Metamask

3. Link metamask to Wallek

4. Deposit into Wallek