How to Earn Extra Rewards Staking THOR

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THOR financial recently launched a couple of different ways to stake with with the THOR app to earn extra rewards.

Aside from setting up THOR nodes, here’s the other ways you can earn with THOR:

  1. Single-side staking (simply staking $THOR tokens for THOR Rewards)
  2. Staking THOR-AVAX LP tokens (earns $THOR rewards)
  3. Staking $FTM and $AVAX with Thor’s validator nodes on other networks

These are great strategies to passively earn rewards as FTM and THOR.

You can then use the extra tokens to buy more THOR nodes if you wish.

In this article, we’ll cover the following:

What you’ll need for this guide

  • $AVAX tokens
  • $THOR tokens
  • MetaMask wallet
  • Fantom wallet (only if delegating to the validator node on FTM)

Single-side staking THOR (SSS)

First, let’s discuss single-side staking (also referred to as SSS) which is straight forward. This is the quickest and easiest method to start earning rewards as an APR %.

If you don’t already have some $THOR tokens, you’ll need to get some.

You can purchase $THOR by swapping $AVAX on the exchange TraderJoe. If you need help with this, check out this article on setting up THOR nodes which covers how to get and swap AVAX for THOR.

Now that you have $THOR in your wallet, go to the Farm section of the THOR app here:

Providing liquidity to THOR pool

How providing liquidity for LP tokens works

Here’s the basics of how this works: you provide a liquidity pair, in this case, an equal amount of THOR and AVAX tokens to the THOR-AVAX liquidity pool on the exchange TraderJoe.

In return, you will get a receipt as THOR-AVAX Joe LP tokens. These LP tokens are your claim to the liquidity that you provided. You’ll earn rewards from the exchange for holding these tokens.

Once you have the LP tokens in your wallet, you then go back to the THOR finance app and stake the LP tokens.

Now you’ll earn additional rewards for staking your LP tokens with THOR on top of the rewards you earn from providing liquidity to the exchange.

Steps for providing liquidity and staking the LP tokens

Here’s the steps to get the LP tokens:

1. Visit the THOR-AVAX pool on TraderJoe here:

It looks like this:

thor avax pool on trader joe
Provide THOR and AVAX to the liquidity pool on TraderJoe exchange

2. Approve THOR and put in the amount of liquidity you want to supply. You’ll need to provide an equal amount of $THOR and $AVAX tokens.

You should now have Joe LP tokens in your wallet.

Let’s go ahead and stake those LP tokens to the LP farm on the THOR financial app.

3. Visit the official THOR app farm here:

Approve the contract and enter the amount of LP tokens you wish to stake. Click the button to deposit.

staking lp tokens on thor
Stake your LP tokens on the THOR app

You’ve now provided liquidity to the pool and staked your LP tokens for additional rewards. Hooray!

Still confused?

Here’s an easy to follow video on the process covering how to use THOR liquidity pool to farm for rewards:

Source: @airsupport on THOR discord

Staking with THOR validator nodes

THOR has multiple validator nodes on two different chains currently: FTM (Fantom network) and AVAX (Avalanche network).

By staking with these validator nodes (technically, they call it delegating your tokens to the validator), you not only support the infrastructure of the FTM and AVAX networks, but the THOR project as well.

THOR generates rewards for running these nodes so it’s a win-win for all.

Steps for delegating to the FTM node

1. Buy some $FTM tokens and send them to your MetaMask wallet.

You can purchase $FTM through the exchanges Binance and KuCoin.

2. Go to the Fantom wallet here: to connect your MetaMask wallet. Then go to the staking section of the wallet dashboard and click the “add delegation” link.

staking through fantom wallet

You’ll see a screen with a dropdown menu under “validator”.

When you click that, you’ll see a popup with a list of available nodes.

Do a CTRL + F search for “thor” to find one of the THOR nodes. Click the link to select it. I think there’s currently two nodes available.

delegate to thor node

3. Enter the amount of FTM you want to delegate to the node and sign the transaction.

You now have $FTM delegated to THOR’s validator node on the FTM network and will start earning rewards as $FTM tokens. Hooray!

Be sure to leave at least 3 $FTM tokens to cover transaction fees. If you’re not able to complete the transaction, you may need more $FTM in your wallet.

FAQ for staking with THOR

How much can you earn staking with THOR?

At the time of writing this, providing liquidity to the exchange pays ~30% and staking LP tokens pays ~490% APR with the THOR app.

Single-side staking pays ~50% APR with the THOR app.

It’s important to note that these rates will fluctuate.

Are rewards paid in $THOR tokens?

Yes, for THOR-AVAX LP and the single-side staking, you’ll earn rewards as $THOR tokens.

What are the fees and taxes for staking?

There is no tax for claiming staking rewards. However, you will have to pay $AVAX Gas fees to cover deposits and withdrawal transactions.

Is there a lockup period staking?

No, you can stake or un-stake and claim rewards at any time.

How often are staking rewards issued?

Staking rewards are paid out at the completion of every Avalanche chain block (epoch) which is currently about every 10 minutes.

What is a validator node?

From official Thor Discord:

FTM Validator Node – A validator node is a special type of full node that participates in “consensus.” By participating in consensus, validator nodes become responsible for verifying, voting on, and maintaining a record of transactions.

What’s the benefit of staking with Thor’s validator nodes?

Staking or “delegating” to Thor’s validator nodes provides a source of additional revenue into Thor’s treasury. You earn staking rewards for delegating to the nodes. The nodes also support the infrastructure of the FTM and AVAX blockchains.

Have additional questions? Leave a comment at the end of this article.

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