nYFI Staking Income in NEST Protocol: Sustainable DeFi with High APR
It has been three weeks since YFI-ETH price oracle launched on NEST Protocol. The following chat is a summary of weekly APR calculation of nYFI’ staking income.
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Summary of nYFI staking weekly APR Calculation
From the first day YFI price oracle was created on NEST Protocol, nYFI has seen tremendous growth in the APR returns for the token stakers. Compared to other flagship DeFi protocols, which only get ~10%-20% APR maximum, nYFI’s staking income has consistent high APR percentage which is sustainable.
For those of you that are new here, each price oracle feed on NEST is produced by a mechanism called “quote mining”, where the miners are rewarded an “nToken” corresponding to the price oracle asset. Once you mine the “nToken”, the best way to earn more rewards is staking them for a weekly ETH income every Friday.
For example, after quote mining YFI-ETH pair, you will be rewarded with nYFI tokens. Or you can also buy it from Uniswap:
https://info.uniswap.org/token/0x075190c6130ea0a3a7e40802f1d77f4ea8f38fe2Then the most important step: after earning nYFI tokens through quote mining YFI-ETH, you can stake it through nestdapp.io, and receive weekly ETH income every Friday.