Earn Inflation Dividends on Your Stellar Lumens

in #stellar7 years ago

Who can do this: Anyone that holds any amount of lumen coins (XLM)

Something I didn't realize existed until just recently. Lumen inflation payouts.
Think of it like the interest you earn in your bank's savings account. If you set up your stellar lumen wallet properly, you get a percentage of the inflation pool based on the number of lumens you hold in your wallet. Only one problem… In order to get that interest payout, your account needs to hold .05% of all the Lumens in existence to get the 1% interest offered. That would mean you need to hold about 52 million lumens in your account which is not feasible for most of us. Thankfully there are Inflation pools- ordinary people like you and I combining their accounts in order to reach the .05% requirement.
How to set up your Lumen inflation account to receive weekly dividends:
First you need to make sure your lumens are off the exchange you used to get them. It is necessary to have the lumens safely stored in your personal wallet and under your control to reap the rewards. Plus, while on the exchange, your investments are susceptible to hackers and the nefarious whims of the exchange creators. I use the ledger wallet which you can find a link to when you are on the stellar.org website or, if you trust me, here: https://www.stellar.org/lumens/wallets/. Once you have set up your wallet and deposited your lumens we can proceed.
There are a few inflation pools out there and as with anything crypto related, watch out for scams. There's no need to be involved with the pools that make you pay a monthly or yearly subscription. I use an inflation pool called lumenauts. This seems to be a solid group of lumen holders that believe in the stellar project and will divvy up the interest fairly and deposit your interest earnings automatically to your account. They also have great, easy to follow instructions on how to set up your wallet. Check it out here:
https://www.lumenauts.com/tutorials/how-to-join-the-inflation-pool

Once you have gone through the set-up, that's it. You will be rewarded weekly with your share on the interest earnings.

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Great write up. Thanks for taking the time to share this information. Looking forward to future content

I appreciate you taking time to read it and comment!

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