Neo based blockchain project, Red Pulse, have been going through a rebrand in recent history, swapping their native RPX token for a PHX (Phoenix) token and launching what they described as an ‘updated infrastructure‘. Since their smoothly executed token swap the company have been hard at work attempting to move on to the next phase in their roadmap.
One of the milestones which they planned to complete was the release of their new wallet which can be accessed through their web portal at redpulse.com. According to their mailout which was received today they have succeeded with releasing said wallet and are now offering the ability to stake your PHX tokens and start earning rewards through their website.
How to Stake your PHX
The official mailer which announced the great news went on to demonstrate how staking can be completed by any token holder and it seems as though it is literally as easy as pressing a button.
In order to stake your PHX tokens you simply need to send them to your web wallet address on the Red Pulse website/web wallet and then navigate your way to the button which reads ‘fire up‘. By pressing the ‘fire up’ button you will turn your PHX into PHF (Phoenix Fire) which will then begin the staking process. The staking rewards are split into categories which are determined by the number of tokens you stake.
Full information regarding the staking rewards offered by Red Pulse can be examined on their article on the following link: https://blog.red-pulse.com/everything-you-wanted-to-know-about-staking-f2001d5f379b
As explained in the linked article, if you have staked your PHX and now want to receive your rewards you will be subjected to a 30 day waiting period where your un-staked tokens will not be earning anymore PHF but are still locked in the staking program. Once the 30 day period has come to an end you will see the PHF you earned turned back into PHX and able to be withdrawn from your wallet.
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