Staking LCT Token — A Chance to Earn Passive Income and be Part of a Growing Community
The LocalTraders P2P exchange platform is revolutionizing the way people trade digital assets by providing a decentralized, secure and transparent ecosystem. As a part of this, they have introduced LCT token, the native token of the platform that offers a wide range of benefits to its holders. One such benefit is the opportunity to earn passive income through staking.
Staking is a process of holding a certain number of tokens in a wallet for a fixed period of time to validate transactions and secure the network. In return for this, stakers are rewarded with a portion of the transaction fees as well as new tokens. With LCT, stakers can expect to receive attractive returns on their investment, starting from a minimum of 12.5% APY for one month to a whopping 25% APY for a year.
For instance, if an investor holds 1000 LCT tokens for one month with a 12.5% APY, they can expect to receive an additional 10.42 LCT tokens. The APY formula used to calculate the interest rate is (1 + r/n)^n — 1, where “r” is the interest rate earned over one year and “n” is the number of compounding periods per year. With an investment of 1000 LCT tokens, the user can expect to receive an APY of 1.042% for one month, 3.75% for 3 months, 10% for 6 months, and 30% for a year.
The staking feature will be available on the LocalTraders exchange website (https://www.localtraders.finance/) from 14th-15th Feb 2023. With the launch of this feature, users will be able to stake their LCT tokens from one month to one year, giving them the flexibility to choose a period that suits their investment strategy. Additionally, by staking their LCT tokens, users will not only earn passive income but also contribute to the security and growth of the LocalTraders ecosystem.
Moreover, LCT token holders will also enjoy the privilege of having voting rights in the platform’s decision-making process. The LocalTraders team believes that its investors are its partners, and thus, they will have a say in shaping the future of the organization through voting on the DAO main-net.
In conclusion, staking LCT tokens is a unique opportunity for investors to earn passive income, participate in the growth of the LocalTraders ecosystem, and be a part of a vibrant community. The staking feature will be live soon, so mark the dates and be ready to stake your LCT tokens and enjoy the rewards!
