Introducing Native Staking for the 8PAY Token

8PAY
8PAY
Jun 7 · 4 min read

Following the launch of the 8PAY token on BSC, we’ve turned our attention to adding ways to reward and incentivize our growing community. With that in mind, we’re pleased to introduce native staking rewards on the 8Pay platform.

We’re rolling out two forms of staking for 8PAY token holders: single asset and LP. In the case of the former, you can simply lock your 8PAY tokens into the corresponding smart contract to begin earning rewards. With LP staking, you must first provide liquidity for 8PAY-BNB on PancakeSwap and then stake your LP tokens into the smart contract on the 8Pay site.

FAQ:

How can I get the 8PAY tokens needed to join the Single Staking pool ?

In order to join the Single Staking pool you need 8pay tokens in your wallet , you can buy them directly from PancakeSwap following this link.

How can I get the LP tokens needed to join the 8PAY-BNB LP pool ?

In order to join the 8PAY-BNB LP pool you need a special token issued in exchange for a provision of liquidity on PancakeSwap , the token is called Liquidity Pool (LP)

Add liquidity to the 8PAY/BNB pool on Pancake Swap and start earning rewards, here’s how to go about it:

  1. Get your wallet with 8PAY tokens ready, you can buy 8PAY on Pancakeswap.
  2. Now you can visit the pool section of Pancake Swap.

Make sure to have 8PAY and BNB ready with a 50% rate each.
Add 8PAY/BNB liquidity, just as you would on any other AMM

After this process , you will receive the LP token directly to your wallet , ready to stake into our 8PAY-BNB LP and enjoy juicy rewards!

Rewards for staking will be allocated at the following rate:

Staking rewards will last for the whole month, giving you plenty of opportunity to utilize your 8PAY tokens while also boosting liquidity for other users. It’s a net win for the 8Pay community, and a means of aligning incentives between all participants as we build out the 8Pay subscription ecosystem.

How to Join 8PAY Staking program

  1. Go to https://staking.8pay.network
  2. Unlock your wallet (Unlock Wallet Button) in order to login to the Staking App

3. Wait until the count down ends

4. Chose Single staking or LP Staking. Steps are the same for both pools.

5. Click “Enable” button in order to join your preferred pool

6. Confirm the transaction trough MetaMask popup.

7. Click the “+” button , a pop up will be shown, here you can choose the amount to be staked

8. Select the amount you’d like to stake , and confirm the transaction through MetaMask

Enjoy your reward

We’ve got lots more in store for 8PAY token holders including new ways to put your tokens to work. Stay tuned to 8Pay’s social channels for the latest updates.

Technical information

Our GitHub repository is public , you can read the entire code and 8Pay Staking Contracts report by Certik clicking the links below.

GitHub Public Repo: https://github.com/8pay/staking-contracts
Certik’s Audit: https://cdn.8pay.network/docs/audits/staking.pdf

BSC Mainnet Smart Contracts:
SingleStaking : 0xFb39D0D80dd4f0266068A543297E1aB89Ba9fE6d
Treasury: 0x6Af9938Ab58f36657754b06bA4E2f518a59dB68F

LPStaking: 0x74e918446fcc66869C522C98E280E57Aa58D017B
Treasury: 0x96D90F6b17bcDD832BAcA0956e9cDa8253661533

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