What is DeFi staking? How does it work?

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DeFi staking, short for decentralized finance staking, involves users locking up their cryptocurrencies in smart contracts to support the operations of a blockchain network and earn rewards. Stakers contribute to the network's security and validate transactions, receiving a portion of newly created tokens as incentives. This process enhances decentralization and liquidity. DeFi staking works through smart contracts, automating reward distribution based on predefined rules.

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