As covered in a few earlier articles I put out last week, offer a variety of ways to utilize WAX-blockchain tokens. One of the more conservative approaches tends to be it's Taco Salsa, or staking options.
Why Stake?
Unlike the liquidity pools offered under MEAL, Taco SALSA staking is really about utilizing the Taco token for governance and supporting the Taco system with investment. In exchange, the holder gets a return reward for the amount staked as well as benefits with discounts swap fees in the Taco exchange. While these benefits are not going to break the bank by any means, they do offer Taco token holders two big advantages: SALSA is not influenced by liquidity pool behavior, and the value of the reward is only impacted by the value of Taco on the market. The reward amount is generally stable.
Additionally, the user can remove their stake at any time. Rewards are paid daily, so there is no lock-in period or waiting time. The real risk to the user is really what happens to Taco, whose token price can fluctuate versus WAX and other tokens that one might have moved from to stake into SALSA.
Risks Versus Safety
In the big scheme of things, Taco SALSA offers users a way to accumulate more tokens without the downside of liquidity pools or other high-risk tools. In this regard, Taco is providing something for everyone. In additional, SALSA offers a variety of reward types and levels. So, depending on what one wants to get for a reward, staking Taco can produce additional targeted coins from all types of WAX blockchain currencies. Again, it's about making what one has already in the WAX wallet produce more over time.
In comparison to the WAX Cloud Wallet staking, which puts out about a 0.75 WAX reward daily for 4,000 WAX, one could instead swap their balance for TACO and stake it for anywhere from 5 to 10 times that reward value instead over the same time period. There is even a SALSA option for farming WAXP rewards via TACO, paying better than the Wax Cloud Wallet option.
Do your own research and don't rely on this for financial advice, but definitely take a look at Taco Salsa. It's nice choice to have in the WAX toolbox.
