World Causecoin Releases Beta Version of CAUSE Staking Platform
Application testing is now available, with plans in place for deployment in the coming weeks.
World Causecoin is excited to announce the latest addition to the CAUSE ecosystem; the staking platform. The Beta release is available for testing as from 1st July, 2022 and CAUSE holders can now earn passive income from their tokens.
Besides the CAUSE tokens, users will need to connect to their Binance wallets before they can start staking on the platform.
CAUSE Staking on World Causecoin
Staking is no new term to investors and crypto enthusiasts. Token holders often use staking to earn passive rewards for their digital assets.
CAUSE holders will earn a return by locking their tokens in an investment pool that accrues interest. They get to choose from four staking periods, ranging from 6 to 24 months and with different yield returns. Also, there are no limits on how much tokens holders can stake on the application.
Here’s a breakdown of the four options:
The CAUSE staking platform uses two smart contracts to keep running; the CAUSE coin smart contract and Staking smart contract.
Staking CAUSE on the Platform: A Step-by-Step Guide
- Connect your Binance wallet
Download the Binance Wallet extension on your browser and create a wallet if you don’t already have one.
On the World Causecoin website, click on the Staking tab and then the Connect Wallet button. You will be prompted to enter your password, connecting the wallet to the staking application. The interface appearing in the next window will show your CAUSE token balance and your stakes.
2. Placing stakes on the platform
You’ll first choose your preferred staking period from the four listed options. The longer you choose to stake your tokens, the higher the APY on your assets.
Proceed to enter the amount of CAUSE tokens you wish to lock in the staking pool.
Confirm that you allow the transfer of the indicated CAUSE tokens to the staking smart contract on the first popup that comes up.
A second one will show up, allowing you to create your stakes.
3. Proceed to view your staking history
Advantages of staking CAUSE
Staking allows you to accumulate gains on the CAUSE tokens you already earn. Rather than just HODL your coins in your wallet, you can stake them on the application for significant returns.
Besides, it’s worth noting that the Causecoin ecosystem is evolving and there are more exciting features in store. So, the longer you hold CAUSE, the more opportunities you’ll have as new features roll out.
So, why not keep earning interest on the tokens in your wallet?