Everscale’s increased staking program, which was introduced late in December of last year, has locked in about 22.8 million EVER tokens. The initiative increased the amount of rewards available to holders while also assisting in the certification of blockchain transactions.
Any Proof-of-Stake blockchain builds on the principle of staking. These reward those who lend their tokens to the system. This is in exchange for ensuring that the network is viable over time. Everscale’s (rank #262 on CoinMarketCap) increased staking program has delivered up to 15 percent annual percentage yield (APY). Moreover, this is on top of the typical 5 percent yield offered by traditional staking, according to the company. As a result, the total annual percentage yield (APY) can reach a maximum of 20 percent.
The smallest amount required to engage in the program was 100 dollars. Furthermore, it was open to any member of the community who wanted to take part.
EVER Staking Empowers Long-Term Holders
The user sets the token lock time which can range from 6 to 48 months. It does not automatically extend. The quantity of the prizes increases in direct proportion to the size of the stake and the length of the lock period.
A system of smart contracts that operates in the background ensures the security of all locked tokens. In the Ever Surf blockchain browser and wallet, the user can interact with the smart contracts through a chat-like interface the Boosted Staking Debot provides. It is user-friendly. The money is under the complete control of the user at all times. Also, no third party has access to them.
Eugene Teslov, Ever Surf CPO and one of the program’s designers, explains that “our primary aim with increased staking is to empower long-term holders who borrow their tokens to help expand the network in a decentralized manner and help validate transactions in it.”
The fact that 22.8 million EVER tokens locked in the increased staking program in less than three months demonstrates the level of demand among the Everscale community and investors in risk-free long-term holdings that decentralized smart contracts support.
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