🌱Staking
Introduction to Staking in Lovely Legends
What is Staking?
Staking is a feature that allows players to lock up their game points (LOVELY Coins) for a specific period. In return, players receive benefits and rewards. It's a way to encourage long-term engagement and provide additional value to active players.
How Staking Works in Lovely Legends:
Staking Pools: Players can choose from three staking pools:
60 Days Pool with 3% APY (Annual Percentage Yield)
120 Days Pool with 5% APY
240 Days Pool with 10% APY
Locking Period: The chosen pool determines how long your LOVELY Coins will be locked. During this time, you cannot use or transfer these coins.
Benefits: Staking provides eligibility to participate in Initial Liquidity Offerings (ILOs) for new tokens. The amount you can use for purchases depends on your staking pool:
60 Days Pool: 1% of staked amount
120 Days Pool: 2% of staked amount
240 Days Pool: 5% of staked amount
Example: If you stake 1000 LOVELY Coins:
In the 60 Days Pool, you can use 10 coins (1%) for ILO purchases
In the 120 Days Pool, you can use 20 coins (2%) for ILO purchases
In the 240 Days Pool, you can use 50 coins (5%) for ILO purchases
Why Stake?
Access to ILOs: Get early access to new token offerings in the Lovely Legends ecosystem.
Potential Rewards: While not guaranteed, many games offer additional rewards for staking.
Community Engagement: Staking shows your commitment to the game and may unlock special features or status.
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