enjincoin
Enjin CoinENJ
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Enjin Coin Staking

Reward Rate
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Staking Ratio
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Staking Mktcap
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Price
$0.02
▼ 6.10%
Total Staked
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Inflation
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What is Enjin Coin Staking?

Enjin Enjin is a leading blockchain ecosystem dedicated to revolutionizing the gaming industry by integrating blockchain technology into games, applications, and businesses. Founded in 2009 by Maxim Blagov and Witek Radomski, Enjin began as a community gaming platform of 20 million gamers. Pivoting to blockchain in 2017 and kickstarting the NFT movement, Enjin pioneered the advanced ERC-1155 token standard on Ethereum. Building upon this foundation, Enjin launched the Enjin Platform, the world's first NFT integration platform, allowing developers to seamlessly incorporate blockchain assets into their applications in less than 24 hours. Enjin has since evolved into a comprehensive suite of blockchain products, with the Enjin Blockchain platform now powering billions of digital assets. The Enjin Ecosystem Enjin is a feature-rich ecosystem that covers a wide range of blockchain software products. Enjin’s tools enable developers, businesses, and individuals to create, manage, trade, distribute, and integrate NFTs with ease. Enjin's technology is used to power digital assets by millions of users world-wide. Enjin Blockchain: A Substrate-based Proof-of-Stake (PoS) blockchain custom-built for Non-Fungible-Tokens (NFTs) and other digital assets. Optimized for gaming, it offers high transaction throughput, low fees, and eco-friendly transactions. Enjin Wallet: A secure, multi-functional mobile wallet supporting various cryptocurrencies and NFTs, enabling users to manage their digital assets with ease. NFT.io Marketplace: An intuitive platform for creating, trading, and distributing NFTs, fully integrated with the Enjin Blockchain to provide a seamless user experience. Enjin Platform API and SDKs: Developer toolkit that facilitate the integration of blockchain assets into games and applications, supporting multiple programming languages and platforms. Enjin Beam: A QR code-based distribution system that allows for the effortless dissemination of NFTs, enhancing user engagement and marketing strategies. Enjin Coin (ENJ) At the core of the Enjin ecosystem is Enjin Coin (ENJ), the native governance and utility token of Enjin Blockchain. ENJ underpins all transactions, asset creation, and economic activity within the ecosystem, playing a crucial role in securing the network and empowering users to create and trade digital assets with real-world value. Key functions: Governance & Staking: ENJ holders can stake Enjin Coin (ENJ) to participate in network governance, securing the blockchain while earning rewards for their contributions. This decentralized model ensures a fair and community-driven ecosystem. Transaction Fees: ENJ is used to pay for all transactions on Enjin Blockchain, ensuring a seamless and unified economic model. Security & Network Validation: ENJ is used in the nominated proof-of-stake (NPoS) consensus mechanism to secure Enjin Blockchain and allows participants to nominate reliable nodes. NFT Minting & Creation: ENJ is used to mint NFTs and other digital assets, enabling the creation of unique, blockchain-powered items for games, applications, and virtual economies. These NFTs are verifiable, tradeable, and interoperable, allowing seamless integration across multiple platforms. ENJ-Backed NFTs: Enjin Coin (ENJ) can be used to back NFTs, giving them a provable, on-chain reserve value. When an NFT is created using the Enjin ecosystem, developers can choose to embed ENJ within the asset, ensuring it always holds a base level of value. Holders of these NFTs have the option to melt (destroy) them at any time to recover the underlying ENJ, providing liquidity and tangible worth to digital collectibles, game items, and virtual goods. Strategic Partnerships and Adoption Enjin has established meaningful partnerships with leading industry players such as Microsoft, Square Enix, Samsung, and Entropia Universe, in addition to collaborating with over 150 game and app developers. These collaborations span a wide range of genres, including rewards programs, open-world fantasy RPGs, trading card games, augmented reality apps, and Minecraft servers. Recent Developments In September 2023, Enjin Blockchain was launched, marking a significant milestone in the ecosystem’s mission to decentralize digital asset ownership. This launch included a "triple migration" of tokens and NFTs across Ethereum, Polkadot, and the new Enjin Blockchain, streamlining operations and enhancing the ecosystem's efficiency. As of May 31, 2024, 95% of Enjin Coin's total supply has been unlocked, reflecting the ecosystem's maturity and widespread adoption. Vision for the Future Enjin is committed to making blockchain-powered gaming accessible to everyone. By providing user-friendly tools and services, Enjin empowers developers to create immersive, player-driven economies where digital assets hold real-world value. With a focus on innovation and collaboration, Enjin aims to bring NFTs and blockchain technology to a global audience, transforming the digital landscape. For more information, visit the official Enjin website: https://enjin.io/
Key Staking Facts
Verified Providers0
ConsensusProof of Stake
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Learn about Enjin Coin Staking

Enjin staking refers to the process of participating in the Enjin Blockchain's proof-of-stake mechanism by holding and allocating ENJ tokens. This staking system is designed to ensure network security and reward participants. Users can easily stake their ENJ tokens by selecting a nominated pool with one click, streamlining the staking process and eliminating the need for manual node selection. In addition, ENJ holders can utilize custodial services to stake tokens.

Staking: You can stake ENJ by joining a nomination pool. sENJ stands for staked ENJ and is obtained when you stake your ENJ tokens, being burned when you decide to unstake. You have the option to stake your ENJ in either a Validator or Collator. Upon receiving sENJ from staking, it can be exchanged for ENJ via a dedicated trading process available on the platform.

Custodial Staking: Custodial services provide staking pools for ENJ where users can contribute their token holdings. While this isn't traditional staking, it enables ENJ holders to earn rewards. This method allows ENJ holders to gain rewards without using a standard staking mechanism.

Staking: Your staking reward is calculated based on the percentage of ENJ tokens you've staked within a nominator pool. As you stake more ENJ, your portion of the total rewards in the pool increases accordingly.

Custodial Staking: Centralized third-party providers mostly utilize strategies where assets from each plan and type are consolidated and allocated for yield in various on-chain opportunities. Some of the avenues for yield generation are mining, staking, liquid staking, proprietary market-neutral algorithmic trading, and collateralized on-platform lending.

Slashing: Keep in mind that your rewards may fluctuate if a slashing event occurs. If a validator breaches security protocols or jeopardizes the blockchain's integrity, both the validator's rewards and staked ENJ may be slashed, affecting the tokens of the nominator pools that supported it.

Platform Security: Ensure the platform you choose is reputable and secure. There is a counterparty risk associated with lending to a custodial provider.

Regulatory Risk: Be aware of the legal and regulatory environment surrounding cryptocurrency lending and staking in your jurisdiction.

Liquidity Risks: Depending on the terms and conditions of the custodial staking arrangement, users may face liquidity risks, especially if there are lockups or restrictions on withdrawing staked funds. Evaluate the platform's withdrawal policies and lock-up periods to assess the potential liquidity risks.


Before staking ENJ, consider factors such as the reputation and security of the staking platform, the potential rewards and risks involved, any lock-up periods or withdrawal restrictions, and your own investment goals and risk tolerance.

Enjin Coin (ENJ) is an Ethereum-based cryptocurrency used to directly back the value of next-gen NFTs.

ERC-1155: The Multi Token Standard

Bleeding-edge token standard used to mint fungible and non-fungible tokens—in a single smart contract.

Enjin was originally established in 2009 when it launched the Enjin Network, a community gaming platform. Still operational today, the Enjin Network service enables individuals to build websites, forums, and apps for gamers.

The company pivoted into the blockchain industry in 2017 following an Initial Coin Offering (ICO) that raised $18.9 million. Since the launch of its ERC-20 token, Enjin Coin (ENJ), the firm has since built out its own set of blockchain tools and services. In January of 2018, the gaming firm released the own android version of its blockchain wallet, the Enjin Wallet. A few months later the firm released an iOS version of its Enjin wallet.

During the summer of 2018, Enjin officially launched its Enjin Platform on the Ethereum mainnet is also compatible with the Kovan Testnet. The Enjin Platform is a platform as a service that allows other game developers to issue fungible and non-fungible assets as in-game Ethereum tokens. That same year, Enjin proposed a new ERC token standard – ERC-1155 – which was approved in 2019 and now implemented in its current software.

Some core members of the team include the following:

Maxim Blagov – Chief Executive Officer

Witek Radomski – Chief Technical Officer

Caleb Applegate – Chief Operating Officer

Ilija Rolovic – Chief Marketing Officer

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