Reward Opportunities Recap: Staking with Fidira
Our team continues to operate with the mission to make cryptocurrencies easy, safe and most importantly, rewarding for new users. As you might already know, this mission comes down to two main determining factors, (1) helping users become NFT holders and (2) allowing them to earn a portion of the Fidira network fees through staking. Unfortunately, DeFi currently involves various protocols and platforms across multiple blockchains, only adding to the confusion and system complexity for new users. As a result, an innovative staking portal has become an essential component in our DAO application suite.
A Mutually Beneficial Relationship
Staking is just one of the incentive programs that we have implemented to help users earn rewards. When users “stake” some of their holdings, they become eligible to earn a percentage-rate reward over time, which typically occurs through a “staking pool.” The process allows participants to put idle cryptocurrencies to work while still earning from a simple and safe yield generation strategy. For reference, many liken staking to a traditional interest-bearing savings account.
Users can stake FID, the native currency of Fidira, which is a transferable representation of attributed governance and utility functions. These tokens are essential to our ecosystem since they provide users with the economic incentives necessary to encourage them to contribute and participate in our growing ecosystem. FIDs then become more than a token, instead being positioned as a gateway for users to access rights, stake NFTs and receive $FID rewards for their usage of the platform’s services. We can guarantee that our system is mutually beneficial, where every participant is fairly compensated such that the total rewards earned are equivalent to the amount staked.
Staking pools will open at our upcoming token generating event (TGE), allowing users to contribute to these staking pools for seven days. By doing so, they can earn 5% of their $FID and classify for new NTFS, some of which will be unveiled in our catalogue.
Below we have provided a breakdown by the amount staked:
Staking for NFTs
To make things easy for new crypto users with gift cards that contain redeemable NFTs, staking on the Fidira platform also offers more ways to earn free assets from partners or unlock more rare NFTs.
The amount of $FID corresponds to different categories of NFTs that a user can gain access to. There will often be multiple tiers of NFTs that can be earned, some having promotional structures that are unique to the collection.
Currently, earnings can be represented as follows:
As you might notice in the above table, the amount that is staked and the length of time $FID is held will also determine the reward users will receive for their NFTs. At each of these tiers, staking participants will be able to choose one, two, or three NFTs that will be received for free after a set amount of days (after 30, 60, 90 or 120 days). It is only after these predetermined time periods, that participants may be granted exclusive access to buy more NFTS from the catalogue they have unlocked.
Each staking contract is custom on our platform, and will only require $FID to participate. More liquidity staking may also be added if it will help Fidira users.
A Platform for Expansion
With staking, we can continue to reward users for using the Fidira ecosystem, in turn, creating a community well-positioned to tackle the challenges of cryptocurrency usage today.
