[Archives] StakeDrop Rewards Distribution Mechanism Explained: Get Ready to Stake Your XPRT!
TL;DR
- We are preparing to distribute rewards for the three completed StakeDrop campaigns (Cosmos, Terra and Kava)
- Rewards will now be distributed in the form of native XPRT tokens, as opposed to Ethereum-based XPRT tokens as originally planned
- This means StakeDrop participants will be able to stake their XPRT token rewards for 35%+ APR even while they’re locked
- Participants will need to create a Persistence wallet and submit their wallet address via another Magic Transaction according to the timelines detailed below
- This update to the distribution mechanism is of considerable benefit to the community
With the XPRT token launch now complete, we’re preparing to distribute StakeDrop rewards to participants of the three completed StakeDrops (Cosmos, Terra and Kava)!
After much consideration, we have decided to update the StakeDrop rewards distribution mechanism in the best interests of the community.
Read the rest of this article on our official blog: https://bit.ly/3nbY9ZO
About Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.
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