Calculating staking rewards with Figment calculator

Unlock the Mystery of Protocol Staking Rewards with Figment’s Innovations

Navigating the complex world of protocol staking can often lead to more questions than answers, especially concerning the actual reward rate for securing various networks. The challenge arises due to inconsistencies between different protocols and variations in calculating staking rewards, compounded or not. This leads to a murky understanding of what the actual rewards rates are, with reported percentages varying based on the source of information.

Recognizing the need for clarity and transparency in this critical area, Figment has stepped up with an innovative solution designed to make the invisible, visible. By developing a groundbreaking Rewards Rate API, Figment leverages its on-chain data to provide a unified source of truth. This API is part of a suite of tools that comprise Figment’s complete staking solution, catering to builders, stakers, and institutions alike.

With the launch of the first version of the Rewards Calculator, the exploration of staking rewards enters a new era. At its inception, the calculator supports major networks like Ethereum, Solana, and Polkadot, with plans to include a broader range of protocols such as Matic, Avalanche, Near, Atom, Osmo, and more throughout 2023.

The Rewards Calculator from Figment stands out by allowing users to calculate their staking rewards on a single network or aggregate rewards across multiple protocols for a comprehensive view. This not only enables the comparison of staking reward rates across different protocols on a singular interface but also facilitates the assessment of opportunity potential when stakes are equally distributed across multiple protocols.

One feature that particularly distinguishes the Rewards Calculator is its ability to vividly showcase the potential earnings left on the table when rewards aren’t compounded monthly. For those not familiar, compounding is the process where rewards are reinvested to earn additional rewards over time, leading to exponential growth.

For Ethereum stakers, it is important to note that the current Rewards Calculator version displays rates without consideration for Maximal Extractable Value (MEV) and priority transaction tips, which could reflect a higher reward rate depending on block tips and MEV rates. However, users are encouraged to stay tuned for future updates, as Figment plans to incorporate these metrics once sufficient historical data is available.

Using the Rewards Calculator is straightforward. Users can simply select their preferred networks, input the desired token amount, specify the staking duration in months, and even adjust the expected future price of tokens to forecast potential earnings over a specific period. This tool empowers users to compare the Figment rewards rate against network averages, offering insights into the performance benefits associated with Figment’s staking service.

This innovative tool is just the beginning, with Figment committed to ongoing enhancements and support for additional protocols. For those eager to stay informed about the latest developments in staking rewards as well as other services offered by Figment, signing up for the newsletter is highly recommended.

In summary, as the digital currency landscape continues to evolve, tools like Figment’s Rewards Calculator play a pivotal role in demystifying staking rewards, offering clarity, and empowering informed decision-making. Whether you’re a seasoned staker or new to the space, Figment’s suite of tools offers the insights and support needed to navigate the staking ecosystem successfully. Discover the potential of your staking endeavors with Figment and embrace the future of digital currency investment with confidence.

Embrace the Future of Staking Today with Figment – Happy Staking!