TRX staking is live as of December 25th, 2019!
Fee-Free TRX Staking
We will give all staking rewards back to our customers and pay all staking fees for users who are holding TRX. The annual yield of TRX staking rewards will vary depending on our number of Super Representative (SR) votes and other network conditions. We will continue to pass at least 100% of staking rewards to customers. With no lock-up period, you’re free to trade, deposit, or withdraw TRX throughout the day. Just make sure your TRX is back in your Poloniex wallet at the time of each snapshot to keep the earnings coming.
How to Receive Rewards:
- Deposit TRX into your Poloniex account
- Hold at least 100 TRX to be eligible for rewards
- We’ll take four daily snapshots of your TRX balance around 00:00, 06:00, 12:00, and 18:00 (UTC)
- Rewards will be distributed into your Poloniex account every other week. The first distribution occured the week of January 13th
Eligible customers who held TRX on Poloniex during the daily balance snapshots will receive TRX staking rewards every other week. In order to receive your staking rewards, your account must meet the following criteria at the time of the distribution:
- Your account must be in good standing (not closed or frozen)
- We are not able to provide TRX staking rewards to customers located in prohibited countries or jurisdictions highlighted in the Poloniex User Agreement
Frequently Asked Questions
Q: Why should I stake my TRX with Poloniex instead of with a different wallet service?
Staking TRX on Poloniex provides you with the highest earning rates that you will find on any exchange, while also providing you with the flexibility to trade and withdraw whenever you please.
Regarding our rates
Other exchanges provide their customers with sub-optimal opportunities to earn: they don’t credit users for both types of Super Representative rewards (called Vote Rewards and Block Rewards); they charge high staking fees; and they will only stake a portion of your TRX, not the whole amount in your balance. As a result, you will often find that the APR offered for TRX staking on other exchanges ranges between 0.75% - 2.0%.
At Poloniex, we strive to provide a better staking experience by:
- Providing customers with 100% of the Vote Rewards and Block Rewards that our Super Representative node generates
- Charging no staking fees on your rewards
- Staking 100% of your TRX
The annual yield of TRX staking rewards will vary with each distribution but we are committed to offering the most competitive rate to our customers. We always distribute at least 100% of staking rewards and cover all TRX staking fees.
To earn staking rewards on TRON, TRX must be delegated to a Super Representative (SR) node. To transfer TRX once it’s been delegated, it must first undergo a 3-day period where the TRX is frozen and can not be transferred. This means that if you wished to trade your TRX, you would have to first unfreeze them and wait 3 days before trading.
With Poloniex’s staking offering, customers will earn TRX rewards while maintaining the flexibility to trade and withdraw at all times. Along with this flexibility, customers will also be able to continuously earn staking rewards up to the moment they decide to trade their TRX into a different asset. Poloniex’s approach removes a barrier that until now, has prevented traders from benefiting from staking.
Q: Is there a fee for staking TRX on Poloniex?
No, we will not charge a fee for staking TRX on Poloniex.
Q: How are staking reward rates calculated?
Staking reward rates are determined by a number of factors, including: the frequency of blocks produced by the TRON network and the rank of our Super Representative node within the top 27 top Super Representatives.
Q: How does Poloniex calculate the reward distribution?
To calculate the reward distribution, a snapshot is taken of TRX balances 4 times per day. Every 2 weeks, we sum each customer’s balance snapshot since the last reward distribution. The staking reward is then distributed to customers proportionately to their balance snapshots over the 2 week period.
Q: When will my account be credited with TRON staking rewards?
Staking rewards are distributed biweekly (every 2 weeks) to customers that match our eligibility criteria at the time of the distribution (the eligibility criteria is set out below). The initial distribution occured 3 weeks after staking was enabled on Dec 25, 2019. After this, customers will begin earning staking rewards within 2 weeks of depositing TRX to Poloniex.
Q: How many TRX do I need to hold to receive TRON staking rewards?
You must hold at least 100 TRX in your Poloniex account at the time of the daily TRX balance snapshots.
Q: Are there any other requirements to be eligible for TRON staking?
Eligible customers who held TRX on Poloniex during the four daily balance snapshots will receive staking rewards once every 2 weeks. In order to receive staking rewards, your account must meet the following criteria at the time of the biweekly distribution:
- Your account must be in good standing (not closed or frozen)
- We are not able to provide TRON staking rewards to customers located in prohibited countries or jurisdictions highlighted in the Poloniex User Agreement
Q: Help! My account was frozen during the distribution and I didn’t receive my staking reward.
Q: How will TRON staking rewards appear in my account?
If you are an eligible user (as described above), your account will be credited biweekly (every 2 weeks) with staking rewards. The staking rewards will be a credit to your TRX balance. Go to your Wallet to view your earnings.
Q: Are there any risks to staking with Poloniex? Are my funds at risk of being slashed?
Unlike with many other crypto assets that can be staked, the TRON network does not expose users that stake their TRX to risks such as slash penalties.
While there is no risk of your funds being slashed, TRX, like any other crypto asset, is subject to price volatility and technical issues that may be outside of Poloniex’s control. Moreover, crypto assets are not covered by FDIC insurance. You should always consider whether you can afford to lose funds before purchasing or trading any crypto asset.
Q: Is receiving TRON staking rewards a taxable event for customers?
We recommend reaching out to a tax professional for more information.
Q: Where do I find my history of staking reward deposits for accounting purposes?
Go to your Wallet and select Export. This will download a CSV file containing your history of earnings on Poloniex.
Q: Besides receiving staking rewards, can I participate in TRON governance on Poloniex?
Initially, Poloniex will strive to make reasonable decisions for the community. As our staking service evolves, we will explore different options for allowing TRX holders on Poloniex to participate in TRON governance more directly.