Staking in Asgard DAO
Staking in the cryptocurrency ecosystem is one of the easiest ways to grow a crypto portfolio without purchasing new digital assets. In staking, the token holders liquefy their digital assets in a staking pool offered by the native ecosystem to receive benefits in the form of another digital token or the same digital assets.
The potential of the digital asset is largely affected by its staking capabilities as it increases the attractiveness of the project for crypto investors. Asgard DAO, a decentralized currency reserve protocol built on Binance Smart Chain, has developed a new category-defining asset class that allows smart investors to build their wealth by hedging.
Staking with Asgard DAO
Staking is one of the primary value-accrual strategies for several DeFi protocols, and Asgard DAO allows users to stake their $Asgard tokens using the dApp website. Users can stake their Asgard tokens to earn rewards derived from the bond sales process that varies based on the number of Asgard tokens staked within the protocol and the reward rate, which is set algorithmically using a monetary policy.
When users stake $Asgard tokens, they lock in their tokens and receive an equal amount of sAsgard tokens. The sAsgard token rebalances at the end of every epoch automatically and can be transferred, so it is composable with other DeFi protocols. However, sAsgard is a transfer-restricted rebasing token not meant for trading.
Users can also unstake their Asgard token as easily as taking them by burning the sAsgard token and receiving an equal amount of Asgard. By staking Asagard tokens, users will receive compounded returns automatically as sAsgard tokens rebase to reflect profits.
The process of staking $Asgard is simple and can be done following these steps:
1. Go to the https://app.asgarddao.live/#/stake and select “stake.”
2. Send Asgard to the staking contract and receive sAsgard at a 1:1 basis.
To unstake the staked tokens, simply click on the “unstake” button on the same API.
About Asgard DAO
Asgard DAO is a new category-defining asset class that allows smart investors to build their wealth by leveraging hedging. It is a decentralised treasury-backed currency developed on Binance Smart Chain that maintains the value of at least $1.
Asgard DAO is one of the early solutions readily embracing the emerging DeFi 2.0 by creating a decentralised protocol based on the $Asgard Token and backed by a robust DAO. Asgard DAO has developed an exciting and robust Game Theory that powers its core and the native token.
To learn more about Asgard DAO, visit https://www.asgarddao.live/.