Staking HYDRA on Kucoin? Must Read!
A lot of people in the crypto space are attracted to HYDRA staking on Kucoin because of the great APY (currently around 47%). However most of them don’t actually realise what they are holding. Hydra Chain is a breakthrough layer 1 proof-of-stake blockchain that has solved many of the problems that plague other chains.
Before you read further
I strongly recommend signing up for LockTrip. LockTrip is a travel marketplace offering up to 60% savings off hotel accommodation, created by the makers of Hydra Chain. By signing up and booking hotels there, you are supporting the Hydra Chain and LockTrip, since 3% of every booking’s value is used to buy and burn the LOC token, and every transaction uses HYDRA! You can also become an affiliate and earn a lifetime 3% commission for all of your referrals’ bookings! 😀
Unlike other blockchains Hydra Chain offers fixed transaction fees. Predictable fees are essential for any business to accurately calculate their running costs. Hydra Chain fees are fixed at $0.20 for HYDRA transactions and $0.50 for token transactions. This was made possible by developing a leading-edge price oracle that monitors the price of HYDRA and dynamically adjusts the fee rate.
You may be thinking “other chains have transaction fees that are way cheaper than this…” That is true, however to achieve this they have to be much more centralized than Hydra Chain and are prone to attack. Just look at the stop-start nature of Solana and terrible demise of LUNA.
Key to Hydra Chain’s industry-leading decentralisation is its easy-to-use node software, which enables every user to stake. Having no minimum staking amount provides fair access to the Hydra economy for all participants. In addition, participants are not required to invest in expensive mining equipment. Hydra Chain’s one-click staking node (wallet) installers are compatible with all standard household computers.
Hydra Chain can handle 6x the transaction capacity of Ethereum. Blocks are produced at a faster rate when the network load is near capacity. This can dynamically grow TPS to 500+ at peak load. Hydra’s decentralized governance feature also allows for increasing TPS via a blockchain vote.
Revenue from the Hydra transactional economy is also shared with smart contract (token) creators, who receive 50% of the HYDRA transaction fees their projects generate. Hydra is the only blockchain that utilizes such a truly shared economy that incentivizes DApp developers in a sustainable fashion.
Hydra uses a unique inflation-deflation system to control its total supply: 100% of transaction fees are burnt, while there is a minimum staking APY of 20% to strongly incentivise participants to continue staking, strengthening the network and ensuring uninterrupted income.
This was just a short summary that explains why high staking yield chasers should look deeper when it comes to HYDRA. For more information, join the Hydra Chain Telegram group. It’s an amazing community of supportive members that are ready to help you get started on your Hydra journey!
Lastly, don’t forget to sign up for LockTrip for amazing travel savings! Why not spend your HYDRA staking rewards on an awesome holiday?