Are there any risks with staking 1inch tokens?

[Eles101]

Hi everyone, I received the airdrop from 1inch and was wondering if there were any risks in staking these tokens using the "stake" option in their governance tap from their DAO? I heard about people losing their tokens but that was when farming in liquidity pools, is staking 1inch tokens different?

[Mpamaegbu]

To start with, you got the 1inch tokens through an airdrop. I don't even see any risk in one losing what was ever received for free. On a more serious note, trading is a risk just like every form of business is. Asking here and someone making you a guarantee that it's safe to stake on that Dex is on its own a risk too because you're asking random strangers too. However, if I were you I would take that bold step of faith and stake it and assume it a win-win. Whatever the outside, I live with it without regrets.

[Eles101]

To start with, you got the 1inch tokens through an airdrop. I don't even see any risk in one losing what was ever received for free. On a more serious note, trading is a risk just like every form of business is. Asking here and someone making you a guarantee that it's safe to stake on that Dex is on its own a risk too because you're asking random strangers too. However, if I were you I would take that bold step of faith and stake it and assume it a win-win. Whatever the outside, I live with it without regrets.

Well, I also bought some after that airdrop. I want to know more about staking 1inch tokens, what is staking used for? how different is it from other coins that have staking? what are the risks of staking it? etc.

[tbct_mt2]

Risks are existing in any type of investment and bigger in cryptocurrency and much bigger in DeFi investment.

[DeFi Tutorial] What is Impermanent Loss?
Chart of 1inch shows that its price rose from below $1 to more than $6 and now it is traded around $4.4. I think you can have other rises from 1inch to take profit if you want to invest and stake.

https://coinmarketcap.com/currencies/1inch/

[Eles101]

Risks are existing in any type of investment and bigger in cryptocurrency and much bigger in DeFi investment.

[DeFi Tutorial] What is Impermanent Loss?
Chart of 1inch shows that its price rose from below $1 to more than $6 and now it is traded around $4.4. I think you can have other rises from 1inch to take profit if you want to invest and stake.

https://coinmarketcap.com/currencies/1inch/

So is it safer than liquidity providing? What I'm worried about is losing all the tokens, don't matter if the price drops.

[cryptoaddictchie]

So is it safer than liquidity providing? What I'm worried about is losing all the tokens, don't matter if the price drops.

Can't be guaranteed actually but it's more safe for me in my opinion than providing liquidity. You don't lose tokens when you staked only the value of the tokens if it decreases or otherwise gain when it increases. Providing liquidity is more prone to losing than simply staking cause you add liquidity that could be mess later on and also you will add a pair not only the token itself.

[coinswebid]

Hi everyone, I received the airdrop from 1inch and was wondering if there were any risks in staking these tokens using the "stake" option in their governance tap from their DAO? I heard about people losing their tokens but that was when farming in liquidity pools, is staking 1inch tokens different?

i think there will be no risk, if you got your tokens from an airdrop mate, because you didn't buy the tokens with your money, right ?

[ethereumhunter]

Well, I also bought some after that airdrop. I want to know more about staking 1inch tokens, what is staking used for? how different is it from other coins that have staking? what are the risks of staking it? etc.

Staking is an investment in the lock conditions without you can use it for trade. That is what I know. The risk of staking is when the price increase so high and your token is in a lock for some time, you can not sell your token and make a profit. Staking can earn you more amount without doing anything and only hold it in the wallet. Everything you do will have a risk, but I am afraid that we do not know the exact risk behind staking.

So is it safer than liquidity providing? What I'm worried about is losing all the tokens, don't matter if the price drops.

If the platform is trustable, you will not lose your token because the platform will take care of your token, and you only need to wait for the reward that will send to your wallet. But FYI, there are no safer in this world. Everything will have risk.

[dihari]

To be honest, all the things in crypto (investment) contained risks. It's all started when you make decision to buy a coin/token. Staking is one of beneficial product from a platform for its users. As per this you don't need to send your token to anywhere to stake your 1inch token, you stake them from your own wallet, +1 for this.
Maybe the only risk on staking is losing the value by dropping price while you stake.

[libert19]

It depends on the security of the staking contract, and they are indeed audited but still nothing guarantees 100% safety.

You can also stake through binance, it will save you gas fees, risk remains there still.

[aryana42]

Hi everyone, I received the airdrop from 1inch and was wondering if there were any risks in staking these tokens using the "stake" option in their governance tap from their DAO? I heard about people losing their tokens but that was when farming in liquidity pools, is staking 1inch tokens different?

I myself have never tried that within 1 inch, but if you hear about losing tokens from other people, then don't take your risk for it even though it's different, it's better if you just sell the token and buy another, better token can trade calmly every day, this is just a solution from me even though you will not consider it.

[Eles101]

I've decided to stake half of my bag, ty guys for responding

[MUHAMMAD NUR AMANAH]

I think with the drops of air there is no great loss for us to accept, but in the crypto world, all of the investments, there must be risks we must all face, depending on how to make that decision for us in the future. if it were just a drop of air

[Lantind]

I've decided to stake half of my bag, ty guys for responding

Just do what you think can be profitable and you are sure of your income, do not involve other people in this matter, even though there are many responses that you can receive here, the final decision is yours because it is your full right.

[poodle63]

Maybe the fluctuation that could drop the value of your token? other than that I see no risk considering you also get it for free, if i were you i'd just go big or go home, there's no harm in staking 1inch tokens anyway. the swap service is reputable and has been distributing huge airdrop, surely staking tokens won't get you a problem, if it did then there won't be anyone who wants to stake.

[akirasendo17]

The risk I see when staking is that when you stake the coins and the price goes wild from example 1 USD to 100 USD you can't automatically unstake the token, since there are rules that you need to stake it for 1-6 months or 15 days, same when the price goes down, that is the risk that I think you need to consider when staking, but the risk is always there to all of the crypto coins, we can't deny it.

[Kelvinid]

Hi everyone, I received the airdrop from 1inch and was wondering if there were any risks in staking these tokens using the "stake" option in their governance tap from their DAO? I heard about people losing their tokens but that was when farming in liquidity pools, is staking 1inch tokens different?

Since it was just an airdrop, it is free token and it won't be a big deal if you try it do the staking unless if you pay for it.

Anyway, staking, trading, investment are all risky, you can't find no risk in here. And it's up to you how to deal it for we don't grow if we are always afraid. Just simply, have a try and who knows? Because if that is legit, there is another reason why some people lose their tokens or it probably they are visiting the phishing site, not because of staking.

[crwth]

1inch has been showing up in my feed most of the time now, and I think they are making an effort towards making the coin known. So you said that you had received an airdrop of it, then there's technically no risk with what you have, just like what Kelvinid said. You didn't put in any monetary value in exchange for the token. If you got it from a bounty, yes, your time, but it's still reasonably different in talking about risk.

Is it something related to the DAO hack? With the loss of tokens?

[dhemasm]

There will be always a risk on every investment especially staking and 1Inch is one of them but it's have less risk rather than other Liquidity Pools, 1Inch one of the most good option to get some passive Income same with some coins like CAKE and UNI. The only risk was Hacked Smart Contract/Address since it was Dex and Impermanent Loss, Read more here; https://academy.binance.com/en/articles/impermanent-loss-explained

[BitKongy]

You need to understand what staking is all about, there is sure risk involved here, while staking if bear market starts the token value can drop and if your staking cycle is still on you are already at loss, this is why I prefer monthly staking cycles not the annual ones