Why Staked all my CUDOS?
Surviving Crypto winter is hard, even though the crypto you hold has strong potential as the prices start to go down we sometimes lose our control & in panic we sell them, to avoid this kind of behavior driven selling for CUDOS, I staked all my Cudos. In this article I will try to explain why I staked all my CUDOS & why you should also consider this step.
To survive without selling
First reason I staked my Cudos is pretty much obvious, to survive the crypto winter. When you have crypto in wallet which is not locked or staked simply open to transfer anytime is big red flag in bear market as prices are continued to fall sometimes panic overtakes our thoughts of selling and regret later, already with me in past with Ethereum when I panic sold my ethereum at 200 in last bear market. To avoid that I generally prefer locking my funds or staking them as it takes time to unlock them or unstake them the panic is gone till that moment.
So this is first reason why I staked all my CUDOS as I believe in CUDOS that it will reward all my patients in next bull market although I am hodling it for next five or more years somtimes it just feel good when price is high.
Staking for more CUDOS
CUDOS is currently offering near about 17% APR on CUDOS tokens which is next biggest reason why I staked all my CUDOS, by staking you are generating more CUDOS in your portfolio which can give you sense of relief as your DCA is also going down for CUDOS holding if you have that perspective or else you can say passive income for staking your CUDOS.
Participating in the network
If you are willing to stake CUDOS that means you are truly believing in CUDOS, staking is also a great way to participate in the network, compared to if you are holding CUDOS in exchange wallet it can or can not increase your attention towards the Cudos ecosystem but if you stakes CUDOS then you becomes the part of ecosystem. As the number of staked tokens increases the liquid supply from the market is reduced which limits the downfall by some extent, as the number of stakes increase it also attracts new stakers you large number of people believe also increases other people in the projects.
Staking CUDOS is so beneficial from preventing you from selling on your panic mode, to generating you some passive income & also making you part of the larger CUDOS ecosystem even though the amount you staked is small but as you stake you contribute to some extent to build a more robust system. So hope you now understand why I have staked all my CUDOS.
Cudos is powering the metaverse bringing together DeFi, NFTs, and gaming experiences to realise the vision of a decentralised Web3, enabling all users to benefit from the growth of the network. We’re an interoperable, open platform launchpad that will provide the infrastructure required to meet the 1000x higher computing needs for the creation of fully immersive, gamified digital realities. Cudos is a Layer 1 blockchain and Layer 2 community-governed compute network, designed to ensure decentralised, permissionless access to high-performance computing at scale. Our native utility token CUDOS is the lifeblood of our network and offers an attractive annual yield and liquidity for stakers and holders.