The Coop Network Weekly Update 05/2022
Firstly, we talked about the ins and outs of Staking on the Coop Network.
Staking is the process of locking digital assets (GMD in the case of the Coop Network, by buying STK — StakeCoin) in order to provide network security for a public blockchain. Staking GMD can be a profitable and secure way to manage your investment. The Coop Network uses the Proof of Stake protocol, where users can stake their GMD coins by exchanging it for STK and hold it. The corresponding GMD will be kept on a forging COOP node in order to create and validate blocks on the network, while generating your passive income.
STK will start generating passive income right after exchanging it with GMD in the internal exchange. The annual percentage rate (APR) for the first year of the Coop Network staking program will be 24%.
If you are here for the long run and choose to compound your rewards quarterly, the annual percentage yield (APY) for the first year would be up to 26.25%, which would place STK in the top high-yield staking programs involving stable coins.
The Coop Network x Indacoin
This partnership represents a huge step towards increased accessibility to the cryptomarket. You can now easily buy GMD via Indacoin, using your credit/debit card, without registration!
Now we’re making GMD available to more people by making the process as straightforward as possible, encouraging mass adoption, scaling of the Coop and decentralization of the coin.
Since one of our main goals is having a positive impact in the community by bringing the advantages of the blockchain technology to the real world, bridging the gap between cryptocurrencies and the traditional fiat money system is an important step on our journey!
Hemp on The Coop Network: The Sustainable Material of the Future
Hemp is one of the main branches of our COOP, and for good reason: it’s one of the most sustainable materials in the world. Hemp is a natural fiber that grows without pesticides or herbicides, and can be used to create a variety of eco-friendly products.
The potential for growth in hemp production is enormous. The hemp industry has already grown by 20% in less than five years, and it will continue to grow at that rate for the foreseeable future. The global market size will reach $26 billion by 2025 with a CAGR (Compound Annual Growth Rate) of 22.0%.
All of these reasons are part of why hemp is one of the main focuses in Geoma DAO Coop, where Blockchain Technology meets the real world. We’re working hard in building a sustainable future and looking forward to welcoming new members willing to make a difference in the community.
You can read more on hemp on our blog:
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