$SHOE Token by ShoeFy
The DeFi sector of crypto growing at two times the rate of the overall crypto market, and ShoeFy is unlocking more utility than ever before on their platform that combines both fungible tokens (FTs) and non-fungible tokens (NFTs). The name of the DeFi game is generating passive income. Traditional finance has less than attractive ROIs and the tools of DeFi are changing that game. Now ShoeFy has introduced even more utility to their fungible tokens by combining the uses with NFTs on the ShoeFy platform. Let’s talk about the different ways to use the $SHOE tokens.
Stake sNFTs to Earn $SHOE
Gone are the days of useless NFT’s that have no utility! Put your sNFTs from the ShoeFy Elemental Collection to work for you on the ShoeFy platform and you can earn $SHOE tokens. The shoe NFTs or sNFTs created by ShoeFy are more than just collectible art. These whimsical shoes powered by fire, water, earth, or air also earn you passive income. Find the one you love, and put it to work, and that’s not the only way to earn $SHOE tokens.
Stake $SHOE to Earn $SHOE — AKA Conventional Staking
The $SHOE tokens can be staked in the $SHOE pool, and the rewards will be paid in $SHOE tokens. This is a lower-risk DeFi product as it is not subject to impermanent loss, and is ideal for those wanting to get into DeFi to experience how your assets can begin generating your passive income, by gaining interest on your investment.
Become a Liquidity Provider to Earn $SHOE
In addition to staking, users can also become liquidity providers to generate passive income by unique liquidity rewards. Provide liquidity to the $SHOE/sNFT pair and receive sLP tokens, and then in turn stake those sLP tokens on the ShoeFy platform and earn $SHOE tokens. For maximum rewards use a boosterNFT (bNFT) which holds the ability to increase your yield by 1.1x,1.5x, 2x, and 3x.
The $SHOE tokens have numerous utility functions, but it doesn’t stop there. The sNFTs created by ShoeFy have some additional functionality and one that will debut shortly on the ShoeFy platform.
To learn more about this World Premier DeFi product join our community.
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