With the PHX token swap well under way, we’re now ready to unveil staking. Staking is set to launch for everyone on August 20, at which point you’ll be able to deposit PHX into your platform wallets and earn staking rewards!

What is Staking and How Does It Work

In the world of crypto, staking refers to the reward you receive for supporting a network or token by holding the token or running a node. There are many ways in which staking can be implemented. With Red Pulse, we’ve decided to tie in staking with the platform itself. In order to stake your PHX, you’ll need to deposit your token into your www.redpulse.com account.

You’ll then be required to “fire up” your PHX into PHF (PHOENIX Fire). Once your PHX has been converted to PHF, you’ll then start to earn staking rewards.

How Do I Stake My PHX

1. First you’ll need an account at www.redpulse.com. Once created, please login and navigate to “My Wallet”.