How to Earn Toncoin in 2022
The Open Network is a project that solved the problems with high fees for Internet payments and also developed a highly scalable blockchain for various financial (and not only) solutions on its basis.
Crypto wallet Honee answers the question, How to earn Toncoin in 2022? in several ways. The main ones are farming and staking. By locking some of your Toncoin tokens, you will receive rewards (a share of the fees that users pay for transfers on the blockchain).
In addition to the classic provision of liquidity, you can participate in various farming programs. ‘Yield farming’ means additional reward programs for those who provide liquidity. The main difference is that the provider receives an additional daily reward for keeping the cryptocurrency in the pool.
How to Earn Toncoin in 2022: Before You Start Farming
- Coins are added to the pool in equal proportions (50/50);
- Pools can be very different in terms of annual percentage yield (pay attention to the APY value);
- You can add/withdraw your coins to/from the pool whenever you want;
- Remember that when staking and farming, you are not immune to the risks of volatility and Impermanent Loss. Tokens that are frozen in pools can vary greatly in value in relation to stablecoins (fiat currencies).
Pools Without Risks
For conservative participants in the crypto ecosystem, it’s better to use pools where either of the assets is a stablecoin. This will reduce the risks associated with fluctuations. For those who are more ‘venture,’ a good choice could be a pool with two cryptocurrencies that are not stablecoins.
Honee offers users 124% per annum in the TON/BIP pair. Let’s take a closer look.
- Select the Yield Farming TON / BIP card and click on the Add liquidity button;
- Specify the amount of tokens that you want to send to the pool. By specifying the amount of one token, the system will automatically fetch the amount of the other;
- Click Add;
- Once again, carefully check the conditions of the pool and, if everything is OK, click Confirm;
- After that, Honee will display a link to the Minter Network Explorer.
Now you know how to earn Toncoin in 2022 without active trading, and most importantly, without profound knowledge in the world of digital assets. In the future, Honee will continue to improve the service and offer new ways to earn.