By staking CHSB in the Wealth app, you can be upgraded to Premium members automatically. As a Premium member, you can make unlimited BTC and CHSB transactions with zero fees.
CHSB staking is divided into two broad categories; PoS (Proof-of-Stake) and DPoS (Delegated Proof of Stake). The first works by freezing the stakeholder’s coins for a period to validate transactions done through the network.
In the case of DPoS, a delegate is elected by stakeholders and assigned to become a validator or block producer. In the event of sharp practices, (confirming a fraudulent transaction) a penalty will be imposed.
The different benefits of the two types of staking include:
Earning transaction fees by applying to become a DPoS.
Getting a percentage of tokens as rewards for staking.
Holding or reducing transaction fees for staking on exchanges.
The Swissborg team is going to improve the Wealth app's staking mechanism in the near future to provide our community with even greater value.