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ChainPort Launching the Perpetual PORTX Staking Contract

ChainPort is proud to introduce its perpetual staking contract for the PORTX token!

Perpetual staking for PORTX is embedded directly on the ChainPort app at the link: app.chainport.io/stakeportx. Perpetual staking, as opposed to regular staking farms, does not close or expire. Stakers can choose when and how much to stake and when to unstake from the smart contract. 

Staking PORTX is one of ChainPort's most important functions, is a crucial part of its tokenomics, and provides multiple benefits for the ChainPort ecosystem.  

When staking PORTX, users can choose to pay a discounted port fee of 0.2%, in PORTX per port, based on the USD value of the port. The fees will be deducted automatically from the wallet’s balance in the staking contract.
In addition to the discounted fee, perpetual staking also rewards long-term holders with PORTX yield generated from 3 sources:

  • PORTX Tax fees - Nearly all PORTX transactions contain a tax of 0.3%, with 33% (0.1%) of that tax dedicated to staking rewards. 
  • Porting fees - 10% of all porting fees are redirected as rewards for stakers.
  • Special staking rewards - The ChainPort team will periodically add additional staking rewards during certain events as an extra incentive.

The staking is live with PORTX tokens on Polygon’s (MATIC) blockchain. PORTX holders on different chains can easily port their tokens to Polygon. The staking and unstaking actions are free from the tax fee. 

APY rewards soon will be added soon. The APY reward percentage may change from time to time because PORTX token rewards are added manually, for now, on a regular basis. The ChainPort team will automate the process soon.

ChainPort’s PORTX staking supports all the leading wallets, including Metamask, Ledger, Wallet Connect, and more. Stake your PORTX tokens today!

About ChainPort

ChainPort is a next-gen cross-chain bridge that provides custodian-level security with full interoperability. ChainPort introduces an unprecedented level of security architecture, porting tokens safely across blockchains with just a click.

Security is always paramount for ChainPort, and 95% of the funds are stored in cold storage wallets provided by leading industry security experts: FireBlocks MPC and Gnosis-safe multi-sig.

ChainPort is a permissionless bridge that is already porting more than 191 tokens between blockchains, with additional projects joining daily. Porting is done in just minutes through a friendly and straightforward UI without the need for any technical integration. 

Since its launch in 2021, Chainport has managed 40,000 ports and $610,000,000 in volume. Learn more by visiting ChainPort.io or reading our documentation. 

Join ChainPort’s community for updates:

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