The LSS project (Lossless) has launched a staking program of their native platform token, LSS. It is a promotional activity that was started at 10:00:00 on May 31, 2022 (UTC) on the KuCoin exchange. Users can stake their LSS tokens and earn a reward with an APR of 38%. Apart from this, they are also eligible to get POL mining rewards every day. You can find the product LSS-60D on KuCoin Earn.
The program has gained a huge response from the crypto community, and approx. 3.2M $LSS tokens have been staked within 24 hrs of its launch.
So, in this article, we will explain where you can find the staking program, and how you can participate and grab your share of the profit.
Below are the prerequisites that users need to satisfy to participate in the LSS staking program:
- The program is available on KuCoin. So, you must have an account on KuCoin Exchange. If you are a new user, you can visit the official KuCoin page and create an account first.
- Users need to hold a sufficient amount of USDT in their KuCoin account to buy at least 200 LSS tokens. (Why USDT, because the LSS token is available in KuCoin with the trading pair USDT.)
We assume that all the participating users satisfy the first criteria. We will now explain from where you can get the LSS token.
Get The LSS Token
If you are not holding the LSS token, then you can get it by going to the below platforms. Check the full list of supported platforms from where you can buy the LSS token here.
Note that you can purchase the token from any of the above supporting platforms. However, to stake, you have to move your LSS token into your KuCoin account.
We have some USDT in our KuCoin Main account that we will use to buy LSS.
Note that to buy any asset, users need to transfer assets from their Main account to the Trading account. They can then perform asset trade, and again after trading, you have to transfer the asset (LSS in this case) back from your Trading Account to the Main Account.
As you can see from the below screenshot, we have bought an LSS token (minimum 200 LSS), enough to become eligible to participate in staking.
There are two ways using which you can stake the LSS token:
- Select the Earn option in Operations- You can simply click on the EARN button appearing on your Main account against the LSS token (see the above screenshot).
- Via KuCoin Earn- Users can go to the KuCoin Earn option, and find the below- highlighted notification appearing on the homepage.
Select the product LSS-60D. You will see the Subscribe button.
Click on it, and you will get detailed information about the staking program like:
- Staking Tenor (the term)
- Max and Min Subscription Amount per user
- Subscription Period
- Staking Period
- Accrual Date
- Profit Distribution Date
- Date of Maturity
- Profit Received
- POL Fee
If you are satisfied with the staking criteria, then you can enter the amount of LSS token that you wish to deposit.
Confirm the process by clicking on the Subscribe button.
Once the process is successful, you will get a completion message on your screen.
Click on View Details, to know more about your deposit.
The Redeem button is disabled, as already stated by the project. You can subscribe/stake more if you want. Note that each user can stake a max of 50,000 LSS. So, you can stake more until the subscription period is valid and your staked balance is less than 50,000 LSS.
Staking LSS is a lucrative program. You can stake your token for 60 days and earn a 38% reward along with a POL mining reward. The program has certain geographical restrictions (Mainland China users are not eligible to participate). Note that this is not financial advice. We aim to just educate the users with detailed steps so that they can carry out the task hassle-free. Stake only that amount you could afford to lose.
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