300,000 GLCH Rewards: Glitch Staking Campaign
Glitch Finance is excited to announce its second single-sided staking initiative, supported by the AllianceBlock LMaaS. Starting today, GLCH token holders will be eligible to earn rewards within a 120-day period. We’ve doubled the rewards allocation this time, so thank you to all of our community members who continually support us through the GLITCH development process. Enjoy the rewards!
Following the success of our first staking campaign, we noticed that a sizable majority of the Glitch community asked if we could start another staking program. We heard you and are happy to share two new reward pools that are live; one on Ethereum and another on Binance Smart Chain.
Community members holding the GLCH token will be eligible to generate rewards through a single-sided staking pool with a very high initial APY, and a minimum stable APY of 9% once the contracts have reached maximum capacity. This campaign will conclude after 120 days and includes a 24-hour cooldown period. Note that all tokens that are deposited into the pool will be locked for the duration of the entire campaign.
Single-sided staking campaign details:
- Duration of campaign: 120 days, tokens will remain locked for the entire campaign period.
- Networks: Ethereum (ETH), Binance Smart Chain (BSC)
- Pool type: GLCH single-sided only
- Total maximum capacity in contract: 10M GLCH
- Maximum capacity in contract on ETH chain: 8M GLCH
- Maximum capacity in contract on BSC chain: 2M GLCH
- Initial APY: Very high*
- Min. APY: 9%
* Initial APY% will decrease based on the total number of GLCH tokens staked, campaign duration, and rewards pool allocation, and will eventually max out at a sustainable APY%.
Reward allocation details:
- Total rewards allocation: 300,000 GLCH
- ETH Pool rewards: 240,000 GLCH (80%)
- BSC Pool rewards: 60,000 GLCH (20%)
How To Participate & Earn Rewards:
*Please ensure that you have GLCH tokens, a personal wallet, and some spare ETH/BNB for transaction fees.
Step 1: Visit the Glitch single-sided staking interface and connect your wallet using “Connect Wallet” at the top right corner of your screen (either through Metamask or Wallet Connect).
Step 2: Choose the desired network you’d like to stake on. Single-sided staking will only be available on Ethereum (ETH) or Binance Smart Chain (BSC). If either the Ethereum or Binance Smart Chain networks are fully subscribed, you must use the Glitch bridge to stake on the other available network.
Step 3: Click on “Staking” on the left-hand side and click “Active Campaigns.”
Step 4: Select the active pool, click on “Stake,” approve the tokens, and click “confirm.”
Step 5: Add the number of GLCH tokens you want to stake, then click confirm again. You will see your active staking campaign on your dashboard when the transaction completes.
Congratulations! You are now earning rewards. Through the launch of single-sided staking, we are grateful for your support and this is a little token of appreciation. Thank you for believing in us and supporting us throughout.
“We want our community to know that we hear and see you. Thank you to our entire Glitch community for the ongoing support. Now, let’s continue to deliver the expanded mainnet and its products. This one’s for you!” — Sean Ryan, CEO, Glitch Finance
Do you need further assistance? We can help. Join the official Glitch Discord server and ask away within the #general_support channel.
Until next time,
— Team Glitch
We’re Hiring
We’re hiring qualified candidates for FT roles across marketing, operations, and engineering. If you’re a talented DeFi enthusiast, help us take Glitch to the next level. We’re looking to fill these positions very quickly. Search out our open jobs here and apply today!
About AllianceBlock
AllianceBlock is bridging the gap between decentralized finance and traditional finance, by remedying issues that exist in both spheres and linking them more closely together. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.
About Glitch
GLITCH is a blockchain-agnostic super protocol explicitly designed for trustless money markets and decentralized financial applications (dApps). GLITCH solves the expensive fee structure of other blockchain platforms while simultaneously rewarding all ecosystem participants and guaranteeing low network fees through a unique revenue-sharing model. Glitch plans to incorporate token wrapping bridges, where dApps can run more efficiently, all in service of Glitch’s ultimate goal: to become a cornerstone of blockchain infrastructure.
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