Nimbus Staking Guide: How to Get your 40% APY on NBU Staking Now!

We know there is a lot of excitement to unpack with the upcoming release of the Nimbus Peer-to-peer Exchange, Binance Smart Chain integration, and the Lending-Borrowing dApp! Your Nimbus Platform currently offers several rewarding mechanisms to leverage your NBUs, and more are on their way. But don’t forget about the super rewarding and fundamental functionality that’s already in place — the NBU staking with increased rewards.

As you probably remember, starting from 24th of April 2021 to 25th of June 2021, you have an incredible opportunity to receive up to 3 times more rewards for your NBU staking!

  • The original 5% NBU Soft Staking Reward has been increased to 10%.
  • The original 7% and 12% NBU Hard Staking Rewards have been increased to a whopping 30% and 40%.

To make sure each one of you can benefit from this limited-time offer of increased Staking Rewards, we’ve released a step-by-step guide on staking for you. Once you are done going through it, we’re sure all your questions and doubts will be resolved, and your staking experience will be a smooth sail!

So, how exactly staking works?

Staking is the process by which you transfer your tokens to the blockchain maintenance in exchange for rewards in the form of new tokens.

The core Nimbus Platform staking mechanism is divided into two parts: Soft and Hard staking. Both work with NBU (utility token of the Nimbus platform) and GNBU (governance token of the Nimbus platform). Moreover, in both cases, rewards are transferred to you in NBU according to the selected APY.

APY is the Annual Percentage Yield or the reward that you receive per year on your deposited tokens. For example, 10% APY on 120 NBU means that you will receive 12 NBU per year or 1 NBU per month.

Soft and Hard Staking essentially differ in how you can withdraw the deposited tokens and the reward levels you receive.

In Soft staking, you can withdraw your deposits at any time.

In Hard staking, your tokens get locked for the specified period of time. The advantage of Hard staking is the higher APY.

Current conditions for Nimbus Soft Staking:

NBU Soft Staking — 10% APY

- Minimum staking deposit: no limitations
- Minimum staking period: no limitations
- Deposit withdrawal: at any time
- Reward received in: NBU tokens
- Reward level: 10% APY
*Note that this increased APY level is available only until June 25, 2021. More info here
- Receiving rewards: every second without vesting, meaning you can withdraw them any time.

GNBU Soft Staking — 10% APY

- Minimum staking deposit: no limitations
- Minimum staking period: no limitations
- Deposit withdrawal: at any time
- Reward received in: GNBU tokens
- Reward level: 10% APY
- Receiving rewards: every second without vesting, meaning you can withdraw them any time

Current conditions for Nimbus Hard Staking:

NBU Hard Staking — 30% APY

- Minimum staking deposit: no limitations
- Minimum staking period: 60 days
- Deposit withdrawal: can be withdrawn in 61 days after you staked your NBU, or any time later
- Reward received in: NBU tokens
- Reward level: 30% APY
*Note that this increased APY level is offered for the entire staking period of 60 days only for the tokens staked before June 25, 2021. More info here
- Receiving rewards: every second without vesting, meaning you can withdraw them any time.

NBU Hard Staking — 40% APY

- Minimum staking deposit: no limitations
- Minimum staking period: 180 days
- Deposit withdrawal: can be withdrawn in 181 days after you staked your NBU, or any time later
- Reward received in: NBU tokens
- Reward level: 40% APY
*Note that this increased APY level is offered for the entire staking period of 180 days only for the tokens staked before June 25, 2021. More info here
- Receiving rewards: every second without vesting, meaning you can withdraw them any time.

GNBU Hard Staking — 14% APY

- Minimum staking deposit: 2500 USDT worth of NBU
- Minimum staking period: 90 days
- Deposit withdrawal: can be withdrawn in 91 days after you staked your NBU, or any time later
- Reward received in: NBU tokens
- Reward level: 14% APY
- Receiving rewards: every second without vesting, meaning you can withdraw them any time.

GNBU Hard Staking — 18% APY

- Minimum staking deposit: 2500 USDT worth of NBU
- Minimum staking period: 180 days
- Deposit withdrawal: can be withdrawn in 181 days after you staked your GNBU, or any time later
- Reward received in: NBU token
- Reward level: 18% APY
- Receiving rewards: every second without vesting, meaning you can withdraw them any time

Important notice about GNBU staking:

In this guide, we will look at Soft and Hard Staking using the example of staking NBU tokens with minimum reward levels (APY). Soft and Hard Staking of GNBU tokens work in the same way. Hence when working with GNBU staking, you can follow the same guide.

But there is one important note. GNBU provides the holder with a number of special advantages — the right to receive a share of the platform’s revenues, participate in voting, create proposals for voting, and delegate your votes to other users. However, when GNBUs get staked, they are placed on a separate smart contract, and this temporarily prevents the implementation of holders’ rights that derive from those particular GNBUs.

How to add NBU/GNBU Tokens to Soft Staking?

1. In order to add tokens to Soft Staking, you need to go to the Staking tab (Picture 1) of the Nimbus platform: https://app.nimbusplatform.io/#/staking and stay in the Soft tab.

Picture 1

2. Select the option you are interested in: in this case, we will select the NBU Soft Staking — APY 10% option.

On the card of the option you have chosen, you need to click Approve and confirm the action through MetaMask, using the Confirm button. Please note that the Approve button will only be active if you have free NBUs in your wallet. You can check how many free NBUs you have in the “Available for transfer:” line in the “Your balance” section. To get into “Your balance” section, click on the NBU button in the upper right corner of the platform (Picture 2 and 3).

At this step, you provide the smart contract with access to your tokens so that in the future, you can interact with the staking functionality. A gas commission gets charged for this, but the good news is that access needs to be granted only once for each type of staking, which means that you have to pay this commission only once.

Picture 2
Picture 3

3. Next, the Add button will appear (Picture 4). After clicking on it, you will need to enter the amount (Picture 5) and confirm this action in MetaMask.

Also, note that in the window that appears, you will find information about the amount of free tokens (Available Balance) that you could add to staking, as well as the Staking Reward Rate, which shows the number of NBUs that you will receive per week as a reward.

Picture 4
Picture 5

4. After the selected amount of tokens has been added to staking, it will be displayed in the Total Staked Balance section (Picture 6). You can also notice that the total NBU balance displayed in the Total Balance line of the Your balance section has decreased by the same amount (to go to Your balance, click the NBU button in the upper right corner of the platform). The reason for this is that when you added these tokens to Staking, they were transferred from your wallet to the staking smart contract.

Picture 6

5. From this moment, in the Accumulated Rewards section, you begin to accrue rewards every second, according to the specified APY (Picture 7). You can claim them in full at any time.

To do this, click Claim. With this action, the contract will transfer the accumulated rewards back to the wallet from which the tokens were originally sent to staking. You can immediately use these tokens. This action must also be confirmed in MetaMask.

Picture 7

6. Once done, the rewards in the “Accumulated Rewards” section (Picture 8) will be reset to zero and will begin to appear in Your Balance (click on “NBU” in the upper right corner of the platform) in the “Available for transfer” column.

Picture 8

7. To withdraw your deposited tokens, click Withdraw and then confirm the action in MetaMask

You can do this at any time, and all your deposited tokens will go back to the wallet, the Total Staked Balance will be reset, and the rewards will no longer be accrued.

ATTENTION: do not withdraw tokens from staking if you still have rewards that have not been claimed!

If you withdraw tokens from staking BEFORE you claim the rewards accumulated in the Accumulated Rewards section, then the rewards will be reset. This means that you will never be able to receive them.

Therefore, it is very important to FIRST claim the rewards, AND ONLY THEN withdraw the tokens from staking.

The same happens when working with other staking options. For the GNBU staking, the only difference is that, as mentioned in the “Important Notice about GNBU staking” section of this document, the exercise of GNBU holder’s rights is temporarily suspended while the GNBUs are in staking.

How to add NBU/GNBU Tokens to Hard Staking?

1. In order to add tokens to Hard Staking, you need to go to the Staking section of the Nimbus platform (https://app.nimbusplatform.io/#/staking ) and go to the Hard tab (Picture 9).

Picture 9

2. Next, you need to select the option you are interested in:

- NBU Hard Staking — APY 30%
- NBU Hard Staking — APY 40%
- GNBU Hard Staking — 90 days / APY 14%
- GNBU Hard Staking — 180 days / APY 18%

Keep in mind that such high APY rates for NBU Hard Staking options are valid only until June 25, 2021. After, they will be downgraded according to the conditions described in this article: https://nimbusplatform.medium.com/enjoy-at- least-twice-as-higher-apy-for-nbu-staking-plus-numerous-benefits-for-the-entire-55280eb32cb1 .

Hurry up to take advantage of this offer!

3. In our case, we will choose NBU Hard Staking — APY 30%. To participate, you need to click Approve and confirm your actions in MetaMask. Please note that the Approve button will only be active if you have free NBUs in your wallet. You can check how many free NBUs you have in the “Available for transfer:” line in the “Your balance” section. To get into Your balance, click on the NBU button in the upper right corner of the platform (Pictures 10 and 11).

At this step, you provide the smart contract with access to your tokens so that in the future you can interact with the staking functionality. There is also a gas commission charged for this, but the good news is that access needs to be granted only once for each type of staking, which means that you have to pay this commission only once.

Picture 10
Picture 11

4. After the Add button will appear (Picture 12), click on it and enter the amount (Picture 13).

Also, note that the window that opens will display information about the amount of free tokens (Available Balance) that you can put into staking, as well as the Staking Reward Rate, which shows the number of NBUs that you will receive per week as a reward.

Picture 12
Picture 13

5. Once you have selected the number of tokens, click Add and confirm this action in MetaMask.

6. After the selected amount of tokens has been added to staking, it will be displayed in the Total Staked Balance section (Picture 14). You can also notice that the total NBU balance displayed in the Total Balance column of the Your balance section has decreased by the same amount (to go to Your balance, click the NBU button in the upper right corner of the platform). The reason for this is that you used these tokens in Staking and they got transferred from your wallet to the staking smart contract.

From this moment, you begin to accrue rewards every second, according to the specified APY. You can claim them in full at any time.

To do this, click Claim. With this action, the contract will transfer the accumulated rewards back to the wallet from which the tokens were originally sent to staking. You can immediately use these tokens.

Picture 14

7. Since, in this case, we are dealing with Hard Staking, tokens added to staking can only be withdrawn after the specified period of time. In this case, this period is 60 days.

The central section, Available Balance, shows how many tokens you can already withdraw out of those that you once added to this staking. In addition, the inscription inside the section shows how long it will take for the next portion of tokens to be ready for withdrawal.

To withdraw tokens that are ready for withdrawal and transfer them to your wallet, click Withdraw and confirm the action in MetaMask.

ATTENTION: do not withdraw tokens from the Available Balance section if you still have rewards that have not been claimed!

If you withdraw tokens from staking BEFORE you claim the rewards accumulated in the Accumulated Rewards section, then the rewards will be reset. This means that you will never be able to receive them.

Therefore, it is very important to FIRST claim the rewards AND ONLY THEN withdraw tokens from staking.

The same happens when working with GNBU Soft Staking — APY 10%. The only difference is that, as mentioned in the “Important Notice about GNBU Staking” section of this document, the exercise of GNBU holder’s rights is temporarily suspended while the GNBUs are in staking.

After going through this guide, you are now well equipped to start staking your NBUs at up to 40% APY!

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