How to Participate in The Inheritance: A Beginner’s Guide

The Inheritance is a novel way to partake in the world of decentralized finance (DeFi). It is a platform that rewards users for holding and staking tokens in its ecosystem. These rewards come in the form of new tokens, which can be used to participate in the governance of the platform. In this article, we will provide you with a beginner’s guide to participating in The Inheritance.

Step 1 – Obtain tokens

The first step in participating in The Inheritance is to obtain tokens. These tokens are called INH, and they are the native token of the platform. INH can be purchased on several decentralized exchanges (DEXs) such as Uniswap, SushiSwap, or QuickSwap. You will need to have a web3 wallet to purchase INH, such as MetaMask, Trust Wallet, or Coinbase Wallet.

Step 2 – Stake tokens

After obtaining INH, the next step is to stake them in The Inheritance platform. Staking is the process by which you lock up your tokens in a smart contract, which rewards you with new tokens for holding them. To stake INH, go to the staking section of The Inheritance platform and select the amount of INH you want to stake. You will need to approve the transaction in your web3 wallet, and once the transaction is completed, your INH will be locked up in the smart contract.

Step 3 – Earn rewards

Now that you have staked your INH, you will start earning rewards in the form of new tokens called XINH. These tokens represent your <a href="https://www.neuralword.com/en/article/how-can-one-renounce-an-inheritance” title=”How can one renounce an inheritance”>share in the governance of The Inheritance platform. The more INH you stake, the more XINH you will receive. These XINH tokens can be used to vote on proposals, participate in community forums, and provide liquidity for the platform.

Step 4 – Participate in governance

As a holder of XINH tokens, you have the right to participate in the governance of The Inheritance platform. This means that you can propose changes to the platform or vote on proposals submitted by other users. To participate in governance, go to the governance section of The Inheritance platform, and select the proposal you want to vote on or submit a new proposal. You will need to have a certain amount of XINH tokens to vote or submit a proposal. The amount required varies depending on the proposal.

Step 5 – Provide liquidity

In addition to staking INH, you can also provide liquidity for The Inheritance platform. Providing liquidity means that you add both INH and another token to a liquidity pool, which allows users to trade between the two tokens. By providing liquidity, you earn a share of the trading fees charged by the platform. To provide liquidity, go to the liquidity section of The Inheritance platform and select the pool you want to provide liquidity for. You will need to approve the transaction in your web3 wallet and add the tokens to the pool.

Conclusion

The Inheritance platform is an exciting way to participate in the world of DeFi. By holding and staking INH, you can earn rewards in the form of XINH tokens, which represent your share in the governance of the platform. With The Inheritance, you can have a say in the future direction of the platform and earn rewards for holding and participating. So, if you are new to DeFi and looking for a way to get involved, The Inheritance is an excellent place to start.

Quest'articolo è stato scritto a titolo esclusivamente informativo e di divulgazione. Per esso non è possibile garantire che sia esente da errori o inesattezze, per cui l’amministratore di questo Sito non assume alcuna responsabilità come indicato nelle note legali pubblicate in Termini e Condizioni
Quanto è stato utile questo articolo?
0Vota per primo questo articolo!