Step-by-Step Guide for Stablecoin Staking

What Is Stablecoin Staking?

Stablecoin staking allows asset holders to earn income by lending their stablecoins. You can lend stablecoins (such as USDT, USDC, DAI, etc.) to decentralized finance (DeFi) lending platforms, providing them with liquidity and earning interest paid by borrowers.
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Which Stablecoins Does CoolWallet Support for Staking?

		CoolWallet Pro	CoolWallet S	CoolWallet HOT
	USDT on Ethereum	O	O	O
	USDT on BSC	O	O	O
	USDT on Polygon	O	X	O
	USDC on Ethereum	O	O	O
	USDC on BSC	O	O	O
	DAI on Ethereum	O	O	O

How to stake stablecoins on CoolWallet App?

Step 1. Navigate to "Earn" and click on "Stablecoin". Then Select the token you want to stake and click on "Stake".

Step 2. Enter the desired amount and complete the token authorization process.

Step 3. Review the staking information and complete the verification process.

Step 4. Once the transaction is finalized, monitor your staking status on the "Earn" tab on the Wallet page.

How to Calculate Earnings and Retrieve Staked Assets

• Earnings Calculation: Rewards start accumulating from the moment you stake your stablecoins. They are automatically added to your staked amount, achieving compound growth.
• Annual Percentage Rate (APR): The APR varies based on supply and demand in the stablecoin lending market on the DeFi platform.
• Retrieving Staked Assets: To retrieve your staked stablecoins, click on “Request to Unstake” and enter the amount you wish to withdraw. Complete the transaction process to receive your stablecoins.

Frequently Asked Questions