How Do You Earn Passive Income on Your Cryptocurrency Investment? $TECH Staking & Farming Explained
Hey CryptoMeda Heroes,
We at CryptoMeda are grateful for your ongoing support! At CryptoMeda, we believe in putting community first, which is why we are actively creating a platform that rewards our community generously.
CryptoMeda aims to make crypto investing both fun and profitable through its gaming platform which provides users with unique avenues of earning NFT collectibles through the CryptoMeda ecosystem. This ecosystem is backed by its own native currency, TECH tokens, which enable trade and commerce within the platform.
One avenue of earning TECH tokens and acquiring CryptoMeda collectibles is through our staking system. Staking is a process whereby stakeholders are rewarded for depositing their tokens in a pool. These tokens then serve as collateral to ensure network performance and security. Staking your tokens can be likened to earning interest in a savings account.
STAKING IS LIVE SEPTEMBER 23rd
CryptoMeda has allocated 21% (210 mil TECH) of the total token supply (1 billion TECH) for staking rewards to be distributed over a three year period. Through our staking system, users can earn TECH tokens as well as participate in a weekly NFT lottery to earn collectibles.
Here’s how it works:
The staking system works only on the Polygon network. Staking pools are not limited in size and are open endlessly. Users can choose to participate in a staking pool or a farming pool. Farming will provide more chances to earn a diverse range of rewards. The minimum tokens required for staking is 100 TECH tokens. The APY is not fixed as rewards will be distributed weekly and added to the pool, thereby compounding interest and maximizing ROI for stakers.
Tech tokens allocated for staking rewards are shared between stakeholders in the pool based on the ratio of each stakeholder to the overall pool. The staking duration of each stakeholder is taken into account as well. For example, if all members in the pool have staked a total of 1 mil TECH, and Alex has staked 10k TECH (1% of the pool), he will be entitled to 1% of the rewards for that week, assuming that he was in the pool for the entire week.
For staking, only TECH tokens will be required. Once staking starts, there is a two month lock on withdrawals. A reward of 400k TECH will be distributed weekly to stakers in proportion to their stake in the pool, and automatically added to the total amount of staked tokens in the pool, allowing for further compounding of interest.
To participate in farming, users will be required to provide both TECH and ETH tokens which will be exchanged for a Liquidity Provider (LP) token through QuickSwap. With farming, there is a 3 month lock on withdrawals. A weekly reward of 1 Mil TECH will be shared amongst all farmers.
Farmers and Stakers Can WIN Free CryptoMeda NFT’s
There is also an option to participate in the weekly NFT lottery, which gives stakers the chance to win collectible cards. Each collection of collectible cards will be created every two months, with the number of cards increasing with each new collection (240, 320, 400). The minimum for participating is 1000 TECH for staking, no minimum for farming. The greater the number of tokens staked, the greater the chance of winning. NFT rewards will be distributed equally to the staking pools.
Enter The CryptoMeda Universe, and Earn Passively While You Do So
That’s staking in a nutshell! Thank you so much for your support! CryptoMeda has more amazing things in store, so stay tuned for more exciting developments coming your way including:
- Integrations: Polygon network, Chainlink, Darwinian & more
- Quests for rewards
- Our unique marketplace
- Influencer cards
- Game development — MedaWars
- Interoperable NFT & gaming ecosystem
- Augmented reality app
- Cross-chain development
- Epic Fantasy story