Staking is an umbrella term for the act of pledging crypto assets to a blockchain protocol in exchange for rewards. Staking allows users to contribute to network security by locking up their coins. As a result, users are rewarded in the form of native coins for securing the network.

On the Ultron protocol, there are fees for transactions and smart contract interactions. These fees are tracked with ULX and are very low – but sufficient to make it extremely expensive for a malicious actor to carry out an attack.

The Staking Hub NFT is an innovative digital asset management instrument developed by the Ultron Foundation that enables users to acquire the ownership of a staking node that delivers APR returns in ULX coins daily. There will be eight tiers of Staking Hub NFTs with different characteristics to fulfil the needs of multiple users. The coins generated through these Hubs will be locked for a period and gradually unlocked yearly to enable users to exchange the coins on a secondary market while guaranteeing enough liquidity to the complete ecosystem.

Ultron Coin (ULX) is the native utility coin of Ultron Blockchain, used for securing the network through staking, to track and support the system of network fees, and to fuel the ecosystem of native dApps.

The most important utility of the ULX token is securing the network via the Proof-of-Stake system. Stakers can participate by setting up a validator node or delegating their stake to a validator and then locking their coins for a specified amount of time. Stakers earn rewards proportionally, according to the number of coins delegated and the duration of the lock-up, depending on the validator’s uptime and stability.