Enjin, the renowned blockchain project specializing in NFTs and blockchain-powered games, has migrated its ENJ token to the Enjin Blockchain, a new platform designed to optimize the experience of NFT users.

The ENJ token serves as the native asset of the Enjin Blockchain and is used for essential functions such as paying transaction fees and participating in governance. ENJ holders can stake their tokens to provide additional security to the network and earn rewards in the form of additional ENJ.

The best method to stake ENJ is through Enjin Wallet, a multi-chain wallet developed by Enjin. In addition to staking ENJ, the Enjin wallet can be your go-to crypto wallet as it supports a wide selection of cryptocurrencies including Bitcoin, Ethereum, BNB Chain, Dogecoin, Polygon, Litecoin, Polkadot, Kusama, Acala and Karura.

This article will focus on the Enjin Relaychain, where ENJ staking and governance takes place. ENJ holders can earn up to 28% APY on their token holdings.

It is important to remember that once you stake your ENJ tokens, you will not be able to use them in transactions while the tokens remain staked. If you wish to unstake your ENJ, you will have to wait an unbinding period of approximately 28 days before you can access your ENJ tokens again.

Despite market fluctuations, projects like Enjin demonstrate the potential and resilience of cryptocurrencies, particularly Bitcoin. Although the road to mass adoption may be bumpy, innovation and progress continues in the blockchain space.