What is dual reward in HTX how does it works

Answered at Nov 03, 2024

Understanding Dual Rewards in HTX

HTX, formerly known as Huobi, is a comprehensive blockchain business ecosystem offering a variety of services, including staking, which allows users to earn passive income. One of the features HTX offers is the concept of dual rewards. Let's break down what this means and how it works.

What Are Dual Rewards?

Dual rewards refer to the ability to earn two types of rewards simultaneously through a single staking or investment action. This is a strategy used by platforms like HTX to incentivize users to participate more actively in their ecosystem.

How Dual Rewards Work on HTX

  1. Staking and Voting: When users stake their cryptocurrencies on HTX, they can participate in both staking and voting processes. This means they earn rewards not only from staking their assets but also from participating in governance activities (HTX Staking & Voting).

  2. Reward Boosters: HTX has introduced reward boosters that can enhance the rewards users receive from their staking activities. This can effectively double the reward pool, as seen in their recent initiatives where the quota rose to $100 million (HTX Liquid Restaking).

  3. PrimePool Events: During special events like the HTX PrimePool, users can stake specific tokens and enjoy high annual percentage yields (APYs). For example, APYs can reach up to 73% for certain tokens, depending on the timing and amount staked (HTX PrimePool Event).

Benefits of Dual Rewards

  • Increased Earnings: By participating in dual reward programs, users can maximize their earnings from a single investment.
  • Engagement in Governance: Users are encouraged to take part in the platform's governance, which can lead to more democratic decision-making processes.
  • Enhanced User Experience: Offering dual rewards can make the platform more attractive to users, potentially increasing user retention and engagement.

How to Participate

To take advantage of dual rewards on HTX, users need to:

  • Log in to HTX: Access their account and navigate to the Finance section.
  • Select Staking & Voting: Choose the coin they wish to stake and follow the instructions to stake their assets.
  • Participate in Events: Keep an eye on special events like PrimePool to maximize potential rewards.

Conclusion

Dual rewards on HTX provide a compelling opportunity for users to enhance their earnings while engaging more deeply with the platform. By participating in both staking and governance, users can enjoy a richer, more rewarding experience. This strategy not only benefits individual users but also strengthens the overall ecosystem by promoting active participation and investment.