Diving Deeper Into Polkadot by Staking More $DOT

Polkadot is a protocol that connects blockchains, allowing value and data to be sent across previously incompatible networks. It is designed to be fast and scalable, while the $DOT token is used for staking and governance.

The Polkadot network includes a main blockchain called the “relay chain” and many user-created parallel chains (parachains). The connecting layer allows value and data to be transferred between most blockchains, and can even be used to connect to non-blockchain databases.

The reason Polkadot can process all of this information is because the many parachains do the heavy lifting for the main relay chain. As a result, the Polkadot network can process more than 1,000 transactions per second, compared to about 7 for Bitcoin and 30 for Ethereum.

This is a vision that I want to embrace, and this potential growth fueled my Polkadot exploration. Do you know that as the network grows and more parachains are added... Polkadot should get even faster?

I usually have the habit of testing new Dapps and crypto wallets, and maybe this is why I need a notebook to remember all. I installed SubWallet after the "Learn & Earn about Aleph Zero" on Coingecko, and then realized I can use it to log on GrillApp! This is a winning combo, something like peanut butter and jelly!

I prefer my assets on non-custodial wallets, and withdrew all $DOT I had on Kucoin. It was lame to keep it there for a 0.5% APY, as CEX are always a dodgy place to hold your crypto. I moved the 15 $DOT I held since the down of times to Subwallet, and staked the majority for 10% APR.

The warning was to keep at least 1.5 DOT in the wallet for fees and claiming, but the fee was ridiculously low. I staked 14 $DOT and 1.37 stayed in my wallet just to play it safe! It farmed nicely, and some weeks later I had 0.46 DOT ready to claim.

I remembered that I had a small amount of $DOT on Revolut, where I earned 2.6 tokens during their Learn & Earn Polkadot campaign. I had them staked in there since 2022, and they didn't farmed much since then. I unstaked nearly 3 $DOT and waited a month for them to become available for transfer.

Revolut is a British financial technology company that offers banking services, with the HQ in London. It was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, and offers both fiat and crypto options. The Revolut Card works fee-less in UK and abroad, usually using it when travelling.

Back to the $DOT story, I dived deeper into the ecosystem with another batch of tokens added into stacking. I claimed the farming rewards, and added it to the 2.87 $DOT that arrived from Revolut. Staked 3 more $DOT, as I didn't want to ignore the "keep at least 1.5 DOT in the wallet for fees and claiming" warning.

I raised the staked amount to 17 $DOT, and will let them brew and grow for a while! I expect the Polkadot ecosystem to grow and expand, and this trend will be beneficial for my holdings. HODL and touch some grass!

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