Did you know that you can earn up to 6% a year on your Celo cGLD holdings, without running a node? You didn’t? Then let us explain how, and even if you did know this already, read on to find out how Ankr can make the whole process effortless.
Basically, the Celo network needs users to participate in daily elections in order to determine which 100 Validators secure the blockchain for the next 24 hours.
Holders of cGLD can lock their tokens in order to receive votes (1 cGLD = 1 vote). Don’t worry, you can unlock them again; you will never lose your cGLD.
Now, for each vote you cast for a Validator that gets elected, you receive a reward. For a perfect voting record, this amounts to approximately 6% profit on your locked cGLD over the course of a year.
CeloVote: automated voting with Ankr
Voting is a daily thing. Getting your maximum reward requires daily interaction; you need to monitor what Validators are most likely to get elected and make sure your votes are cast for them, to receive a reward. Unsuccessful votes receive nothing, so manage this carefully.
But at Ankr, we would not have lived up to our reputation if we hadn’t automated this entire process for you! You can watch daily rewards flowing in your wallet on auto-pilot for less than half the price of Netflix!
We’ve built and integrated an automated Celo Voting Application on the Ankr platform which handles voting in the daily elections seamlessly. It only takes a few clicks to get started, just like our node deployment process.
When you use our CeloVote dApp, the technical knowledge barrier is completely removed. It’s truly as simple as deploying the application, connecting your wallet and then sitting back and checking in from time to time to see how much reward you’ve accumulated! And, of course you can unlock your cGLD again whenever you wish (subject to Celo’s standard unlocking period).
How does it work?
The application monitors when each election period is about to begin and places smart votes strategically on your behalf. When the voting commences, the application monitors the action to ensure your votes remain placed on successful validators; if it feels the votes are safer elsewhere, it will automatically switch to other Validators to optimize your chances of success.
This all takes place dynamically throughout each voting period (which occurs once per day). Imagine having to do this manually, right?
So regardless of whether you’re a newbie to crypto or an expert with large holdings, the CeloVote tool is the best way to ensure consistent daily returns without lifting a finger!
Automated voting for half the price of a Netflix subscription!
You know us for our industry-leading prices in everything that we offer, and the Celo Voting App is no exception.
Unlocking the ability to watch your cGLD work for you automatically costs only 5 USD per month!
Your break-even point is staking anything over 1,000 USD worth of cGLD, and profits dramatically increase for any holdings above that.
Watch Celo Gold roll into your wallet everyday now!
Questions?
You can find the most relevant FAQ’s and interact directly with our customer service agents at https://app.ankr.com, or contact the admins in our official Telegram Node Support group
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