It has been a month since the day Project SEED announced our $SHILL staking program on various platforms of Hot Cross, KuCoin, Raydium, and Apeswap in November. This is a great opportunity for users to earn rewards and increase their assets with SHILL. Now that the launch of our staking capabilities has started, we would like to review the performance of staking SHILL on each platform. Be noted that all figures below are recorded at the moment of writing.
First, let’s get a grasp of staking to see how it works and why you should stake $SHILL.
What is Staking?
One of the ways to gain more assets in the crypto world, staking allows investors to earn rewards for holding cryptocurrencies. It is the act of committing a certain number of crypto assets to a blockchain-governed network and locking them from circulating for a specific period of time. Compared to mining, it requires fewer resources but still lets you earn a percentage-rate reward over time.
By using a consensus mechanism called Proof of Stake (PoS), staking tokens becomes part of the transaction process that is validated and secured. PoS enables a more efficient operation on blockchains while verifying new blocks through the staking process. By participating in locking up the coins, validators will receive rewards for being selected to validate transactions. Usually, staking larger amount of crypto assets will result in higher chances of being chosen by the protocol to create a block. And that’s how you can earn rewards when staking tokens.
Why You Should Stake SHILL
We launched our SHILL staking program on Hot Cross, KuCoin, Raydium, and Apeswap using their pools. This is to significantly increase coin holders’ chances of validating blocks and receiving rewards. It’s also an easy way to earn incentives for the act of simply holding your SHILL. Considering how easy it gets to stake, the sooner you start staking this coin, the more advantageous for you to enter the metaverse ecosystem of Project SEED.
Now take a look at our staking performance on each platform to see how SHILL can be a great value to be added to your portfolio.
SHILL Staking Review
Starting from November 10, staking SHILL on Hot Cross has an APR of 44.51% with $100,000 in the total SHILL reward pool. As of today, 2,790,187 SHILL have been staked on Hot Cross. The staked tokens are initially locked for 7 days.
Stake SHILL on Hot Cross: https://hotcross.link/CROSSPOOL
Our SHILL Flexible Promotion program was launched on Pool-X on November 19 and 4,998,502 SHILL have been staked so far. APR is 31.03% and staking rewards will be redeemed after 7 days.
Stake SHILL on KuCoin: https://www.kucoin.com/earn
We launched our Fusion pool of SHILL-USDC on Raydium on November 24 with a current APR of 122.07% and liquidity of $766,000.77. Fusion pools by Raydium is one of their steps towards driving ecosystem-wide liquidity and enabling projects to grow.
Stake SHILL on Raydium: https://raydium.io/farms/
We also have Apeswap host our SHILL staking program, starting on November 24, 2021. APR of the staking pair SHILL-GNANA is at 136.91%. 51,854.359 GNANA worth $79,290 have been staked on Apeswap. If you stake SHILL and BUSD LPs for BANANA, the current APR is 120.64% with $109,519 in liquidity.
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