Earning Passive Income By Staking SCALE Tokens On DeDust.io 

• 1 DeDust is a decentralized exchange based on the TON blockchain. 
• 2 Users swap different cryptocurrencies on this DEX platform. 
• 3 Stake SCALE tokens with this platform for earning rewards. 

Cryptocurrency staking is the best way to make additional income using blockchain technology. Traders lock their coins with a decentralized protocol to get rewards. This process helps the blockchain platform in verifying transactions. Also, it provides security to their network. Platforms like DeDust.io allow users to make additional income through the staking process. They provide a less risky investment for beginners.

This decentralized exchange (DEX) is a part of The Open Network (TON) ecosystem. It is the reason that users get a seamless experience on this platform. Here, users swap different tokens at low transaction fees. Now, investors add SCALE tokens to their crypto portfolio. In this article, we will tell you about the staking process of the DeDust platform:

About DeDust Platform 

DeDust.io is a decentralized crypto exchange platform built on the TON blockchain. It is one of the parts of TON DeFi products powered by SCALE token. Investors swap tokens on this exchange with low fees. Currently, 74 coins and 957 trading pairs are available on this platform. The most active trading pair is USDT/TON, with a 24-hour volume of $14,471,046.14.

This DEX platform works on an automated market maker mechanism to maintain liquidity in the DeFi ecosystem through liquidity pools. The platform uses algorithmic mechanisms to boost the trading of cryptocurrencies. Users prefer DeDust because of its user-friendly interface. A user can access this DEX platform through their website or Telegram app.

Then, it is important to connect the TON wallet on this exchange. Users can choose from Tonkeeper, MyTonWallet, and the built-in Telegram wallet. After that, users can access options like portfolio, swap, pools, and stake. According to DefiLama, the total value locked (TVL) of DeDust skyrocketed from $5.58 Million in January 2024 to $76.62 Million as of late May.

DeDust DEX Platform | Source: DeDust.io

Role of TON Blockchain for DeDust

TON blockchain plays an essential role in the functionality of the DeDust platform. This blockchain network ensures that DeDust can handle high volumes of transactions. Also, it minimizes the transaction fees for trading cryptocurrencies. Overall, TON provides the infrastructure for its DEX platform to operate efficiently. 

The popularity of the TON blockchain is high, with over 3 million users on this network. It shows a strong adoption rate of this network. TON blockchain network has a large community on different social media platforms. Then its integration with Telegram’s messaging app is another reason for its popularity. 

Understanding SCALE Tokens 

SCALE is a native token of the DeDust DEX platform. It incentivizes the users within the ecosystem. Also, these tokens facilitate transactions on the DeDust platform. Now, it is also a staking asset for users to make passive income. 

The price of the SCALE token is $5.81 at the time of writing. The initial supply of this token is 21,000,000 SCALE. Below, you can check the tokenomics of SCALE tokens.

– Ecosystem fund: 4 313 384,9 (25%)
– On the market: 546 3615,1 (26.02%)
– Core team: 4 200 000 (20%)
– Marketing: 548 000 (2.61%)
– Burned: 4 313 3384.9 (20.54%)
– Development: 1 225 000 (5.83%)

Staking on DeDust 

DeDust DEX platform announced the introduction of SCALE staking on May 2nd, 2024. Users have to lock up coins with a decentralized protocol. In return, they will get yields in the form of an increase in the value of their staked tokens. Users get daily rewards for staking SCALE tokens. The DeDust platform collects fees and repurchases SCALE. Then, they distribute it among stakers. 80% of this fee goes back to the pool as a reward for liquidity providers. Then, 20% is converted into SCALE and distributed to stakers. Investors can stake SCALE with ≈ 54.10% APR.

Then, they can unstake their SCALE tokens by clicking the Unstake button. A user can unstake their tokens but with a 5% penalty. Also, users can wait 72 hours to unstake without a service fee. The staking option for SCALE tokens helps in securing the network. Users get rewards based on the amount of tokens staked. In this way, they can make passive income by staking SCALE on the DeDust platform. 

Below, you can check the complete process to stake SCALE tokens: 

– Visit the DeDust.io website by clicking here.  
– Now, connect your Wallet. Then, you can swap $USDT or $TON to purchase SCALE tokens on DeDust.io. 
– After that, click on the Stake button.
– Now, you can insert the amount of SCALE tokens to lock them with the platform. 
– Receive staking rewards distributed daily. 

Robust Security 

DeDust DEX platform uses robust security measures to protect user assets. It is using top encryption techniques to stay secure from potential threats. Also, the platform for security audits is in progress. It ensures that it remains resilient against emerging threats.

Also, the platform uses smart contracts to ensure that your assets are always protected. They provide complete transparency in their operations on their official website. This decentralized exchange provides users with a peace of mind while trading on their platform.

Conclusion

Staking SCALE tokens on the DeDust platform is an attractive way to make passive income. This way, users can earn rewards instead of leaving their tokens in their wallets. Your staked tokens will help the DEX platform to operate efficiently. DeDust is a part of the popular TON blockchain. It ensures that this DEX platform is robust and scalable for swapping tokens. 

This decentralized exchange benefits from TON’s advancements and widespread acceptance. DeDust is a secure platform for staking SCALE tokens. It is set to leverage the growth of the TON blockchain. DeDust is the best DEX platform for all crypto traders staking coins. 

Disclaimer

This article is for informational purposes. It doesn’t give out financial advice. Remember, investing in cryptocurrencies is risky. So, always do your own research for doing crypto trade. Talk to a professional before you decide to invest.   

Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.