How To Stake $GERO & Other Frequently Asked Questions
We’re very excited to have partnered with ADAX to list $GERO and offer staking for the $GERO token. Single asset staking of $GERO was one of the most requested features we have received from the community since May of 2021. On ADAX’s stakepool, users will be given the option to stake and lock their $GERO for a set duration and receive $GERO tokens as staking rewards.
Looking to stake your $GERO token? Once you’ve created an ADAX account, follow the steps in the video below to start staking and collecting rewards.
Since launch, we’ve gotten several questions from our community. We’ve captured the questions that we’ve been asked the most below.
1. What are the staking pools available on cex.adax.pro/staking?
Athena: 120% Total ROI — 30 day staking period
Poseidon: 140% Total ROI — 90 day staking period
Zeus: 160% Total ROI — 180 day staking period
2. How do I send my $GERO tokens to ADAX?
Sending your $GERO to ADAX is very simple. One you’ve created an account, follow the steps in the video below.
3. Is $GERO listed as ERC20 or CNT?
As of today, $GERO is still listed as ERC20 token. We are working on bridging the token to CNT. More info on this will be shared when the time comes, stay tuned!
4. Why was APY communicated as a different number than is displayed on the ADAX platform?
In our early round of communications, there was some confusion in our messaging as APY was confused with ROI (return on investment). For the staking details and breakdowns you can refer to our breakdown details or the ADAX staking page.
5. Are the tokens locked for staking?
Once you’ve staked your $GERO, tokens are locked for the duration of your staking pool. Rewards can be claimed on a weekly basis.
6. Will I need to KYC in order to deposit/withdraw my $GERO tokens?
No, you don’t need to complete KYC to stake $GERO, or deposit / withdraw your tokens from ADAX.
7. Is it single asset staking?
Yes, it’s single asset staking.
8. Can I add more $GERO in the staking pool once I’ve bought more the next day?
Yes, you can add more $GERO until you’ve reached the pool limit. Once the limit is reached, you can’t add anymore.
9. Will staking be available again once $GERO is migrated to a CNT token?
Yes, we will be putting out smart contracts for native staking on Cardano.
10. What’s up next for GeroWallet?
Hardware wallet support for Ledger and Trezor is coming on Saturday, January 22. Shortly after we will be releasing our mobile apps!