🔐Dual Staking: A New Era of Security

• How Dual Staking Works: Dual staking uses two types of tokens to secure a Proof-of-Stake (PoS) network, leveraging both an external, stable token (like ETH or BTC) and the network’s native token. This enhances security and mitigates risks associated with token volatility, simplifying the bootstrapping process and improving economic security.

• Economic Security: For Wirex Pay, dual staking can significantly enhance economic security by allowing WPAY to be staked alongside ETH and/or BTC. This ensures robust network security, even if WPAY value fluctuates, thanks to the stable backing of ETH/BTC.

• Decentralization: Dual staking promotes decentralization by attracting a diverse group of stakers, broadening the validator base, and reducing centralization risks. This enhances the network’s resilience and integrity.

• Mitigating the "Death Spiral": Dual staking mitigates the “death spiral” effect, where a decline in the native token’s value reduces network security, further depressing the token's value. With ETH/BTC as a secondary staked asset, Wirex Pay maintains a baseline level of security, safeguarding the network’s stability during native token volatility.

• Innovative Dual Staking for Wirex Pay: Incorporating dual staking within Wirex Pay provides a balanced and secure framework for network growth. Leveraging WPAY and ETH/BTC enhances economic security, promotes decentralization, and mitigates risks associated with token volatility. This aligns with Wirex Pay’s vision of creating a secure, innovative, and community-driven payment network.