Staking & Farming Your $TECH Explained with Examples
CryptoMeda Heroes ⚔️
We are beyond excited to announce that our Staking & Farming protocol goes LIVE tomorrow September 23rd! Follow us on Telegram & Twitter to stay up date with all staking & farming updates!
Today we are going to explain to you all exactly how staking pools work in a simple example, their advantages over staking used by other projects, and the rewards calculated. If you have not already, please read our first article on staking & farming which provides an introduction to the protocol, or check out our explainer video below!
https://www.youtube.com/watch?v=8QsI31USgh0
The More You Stake or Farm, The More You Earn
Our staking system is different from what users are used to because our pools operate on a shared reward system designed to reward you based off how much $TECH you stake or farm. Calculations and the reward distribution will take place every week. And that’s not all, users can also win NFT cards that will play an important role in the upcoming MedaWars game.
Our reward system is dynamic based on the total tokens staked in the pool to the tokens staked by the user. The more tokens the user stakes, the higher the share of the reward pool. We are looking for members that are with us long-term, and that’s how our pools are designed. We will be sharing weekly reports about both pools.
In our example, we focus on 3 stakeholders, where each one stakes a different amount of tokens in the pool.
In this example, Gladys, Jorge, and Arlene are all staking $TECH and receiving an APR of 200%. However, Arlene is staking 5 times as much $TECH as Jorge and 50 times as much as Gladys. As such, his share of rewards is 5 times bigger than Jorge’s share and 50 times more than Gladys’s.
As you can see, the more $TECH you stake the higher your % share of the reward pool, and likewise the more $TECH you earn week-to-week as well as yearly!
The Same Rules Apply For Farming
Farmers will benefit from the same reward system as stakers! Please note, 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.
About Cryptomeda
Cryptomeda is a gaming ecosystem that uniquely blends NFT collectibles, DeFi mechanics, and iconic crypto characters into an exciting fantasy world. Players of all experience levels can explore Cryptomeda and find various opportunities to earn; whether it is finding rare collectibles, winning prize pools, receiving ranked rewards, or acquiring an ultra-rare Revolution card, traversing the world of Cryptomeda is both fun and highly rewarding. To tie the world together, all economic activity is facilitated by one unified currency — TECH.
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