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WagyuSwap

Staking $WAG On WagyuSwap now Nets Popular Coins via The Great Steak

Bitcoinist
by Bitcoinist
3 years ago
·
Posted in Industry
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Staking opportunities are a crucial part of the cryptocurrency industry. They serve two purposes: users help secure the network, and they can generate passive revenue. Now, platforms like Wagyuswap and its latest $WAG staking event, “The Great Steak” are changing the narrative on staking entirely.

Staking Remains Popular

Cryptocurrency staking is an accessible solution for those who want to heighten their portfolio exposure. It requires holding coins of a proof-of-stake currency and keeping them in an internet-connected wallet for longer periods. One can do this directly through the wallet or by using a staking platform. For platforms, popular choices include Binance or Coinbase, or for dedicated staking platforms, there is Blockdaemon or Allnodes.

One reason why crypto staking remains popular is due to the high APR users can expect. Currencies like DDKoin (DDK) offer 120% in yearly rewards, which is impressive. In addition, SWAPP Protocol, a DeFi-oriented staking platform, yields 94.24%, confirming high returns remain possible. However, the risk these options pose is both in the increased exposure to one particular asset rather than diversifying one’s portfolio, and participating in ecosystems with little ot no value.

Now WagyuSwap – the first DEX on the Velas blockchain – is raising the bar in this segment by introducing “the Great Steak”. A fun play on words given the overall theme of this platform, although there is more to it. Any user holding the $WAG token can stake it and earn some of the most rapidly exploding currencies on the market. It is the first time such a solution has become available in the crypto space.

What Is The Great Steak?

Wagyuswap introduces the great steak to offer users exposure to currently popular assets, with the first token to be earned by staking $WAG being $SCAR, Valhalla’s massively popular Metaverse token.

The great steaking event is live!

First up stake $WAG earn $SCAR!

Tasty! 🔥🧑‍🍳🥩

Go get it! https://t.co/CeJ36utQkz pic.twitter.com/xXAvhCyHXA

— WagyuSwap (@WagyuSwap_app) December 1, 2021

Stakers of $WAG can look forward to various other coins to be earned in the future, including tokens native to BitOrbit, ASTRA, Velaspad, TRONPad, BSCPad, and many others. All these projects achieved a high ROI following their IDO, making them of great interest to enthusiasts.

The staking of $WAG on WagyuSwap marks another major development for Velas as an ecosystem. Moreover, the ecosystem boasts the fastest on-chain throughput, supports Solidity, provides composability, and is already home to dozens of different projects. That growth is fueled by the Velas Grants program valued at $100 million, attracting developers and ideas to maximize the Velas blockchain’s potential.

Closing Thoughts

The launch of $WAG staking is great news for early investors and changes the way people think about staking rewards. Having the option to earn different tokens and coins is novel in the crypto industry. Combined with Velas’ ongoing growth, there is much to look forward to over the coming months.

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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