What is Bybit On-Chain Earn?

Bybit's On-Chain Earn is a user-friendly staking service where you can stake your cryptocurrency directly on the blockchain and earn rewards. It supports Proof-of-Stake (PoS) networks, contributing to their security and decentralization. Traditional staking requires technical expertise and hardware. With Bybit On-Chain Earn, you don’t need to worry about gas fees, node operations, or reward distribution. You can easily stake popular PoS tokens, such as Ethereum (ETH) and Solana (SOL), with just a few clicks.

 

 

 

What are the benefits of staking?

By participating in staking, you can earn rewards by receiving daily yield or gain from value appreciation of the liquid token in recognition of your contributions to network security. It also helps decentralize the network and minimizes the risk of a single point of failure, which is essential for blockchain networks.

 

 

 

Where do staking rewards come from?

Staking rewards come from two main sources: newly minted tokens and transaction fees collected by the blockchain network. By staking assets in a Proof-of-Stake (PoS) network, you contribute to the network’s security, and in return, you receive a share of newly created tokens or a portion of transaction fees. Different protocols may distribute staking rewards in various forms. 

 

 

 

How is APR determined?

The staking APR changes dynamically based on on-chain staking rewards. It is influenced by factors such as total asset staked, the network's inflation rate, and transaction volume. Bybit provides transparent information on the expected APR for each supported asset, helping you make informed decisions. 

 

 

 

What is the APR bonus on On-Chain Earn?

The APR bonus on On-Chain Earn provides users with additional yield credited directly to their Funding Account, with the following key details:

1. Credit Timing: The extra yield will be credited daily at 6:00 AM UTC.

2. Eligibility: To qualify, you must maintain the staking status or hold the minted token for a full 24-hour period. For example, holding the minted token from T+0 12:00 AM to T+1 12:00 AM makes you eligible for the extra yield credited at T+1 6:00 AM UTC.

3. Variable APR: The bonus APR may fluctuate daily based on the prize pool and total staking amount.

4. Pool-Specific Rules: Detailed rules for each staking pool can be found at the announcement center. You can click on "Learn More" to access the latest announcements for accurate and updated information.

 

 

 

 

Is there any risk associated with Bybit On-Chain Earn?

Yes, while Bybit On-Chain Earn offers opportunities to earn rewards, there are risks to consider:

1. Market Risk: The staked cryptocurrency may lose value if market prices decline.

2. Lock-Up Period: Some networks lock your assets for a set period, limiting access and potentially causing delays in unstaking.

3. Blockchain Issues: Technical failures or attacks on the blockchain could affect staking performance, possibly delaying or reducing your rewards.

 

 

 

Is Identity Verification required to participate in On-Chain Earn?

Yes, similar to other Bybit Earn products, individual Identity Verification of at least a standard level is required to participate in On-Chain Earn.

 

 

 

Can I cancel my staking or redemption request after the order submission is successful?

No, you are not able to cancel your order once submitted. However, you can stake or redeem your token via On-Chain Earn anytime again.

 

 

 

Which token and protocol does On-Chain Earn support?

On-Chain Earn supports various tokens and staking protocols, each with different staking and redemption rules depending on the specific network. You can view the supported protocols and tokens from the On-Chain Earn page.

 

 

 

Are there any fees for using On-Chain Earn?

We will charge a service fee percentage, which will be reflected in the yield you receive. For example, if your original yield is 10 USDT and the service fee is 1%, you will ultimately receive 9.9 USDT. The fees vary depending on the protocol, and you can check the fee details on the staking page.

 

 

 

Can I redeem my staked assets anytime?

Yes, you can redeem your assets anytime, but different protocols may have varying redemption processing times or rules. You can check the specific details on the redemption page.

 

 

 

What are the minimum or maximum staking or redemption amounts for On-Chain Earn?

The minimum and maximum staking or redemption amounts vary depending on the specific protocol. You can find the exact limits for each protocol on the staking or redemption page.