🌱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:

1. 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

2. Locking Period: The chosen pool determines how long your LOVELY Coins will be locked. During this time, you cannot use or transfer these coins.

3. 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?

1. Access to ILOs: Get early access to new token offerings in the Lovely Legends ecosystem.

2. Potential Rewards: While not guaranteed, many games offer additional rewards for staking.

3. Community Engagement: Staking shows your commitment to the game and may unlock special features or status.

Tutorial: How to Stake in Lovely Legends

1. Accessing the Staking Feature

• Open the Lovely Legends game on Telegram

• Select the 'Earn' button:

• Navigate to the 'Staking' section:

1. Choosing Your Staking Pool

• Review the available staking pools (60, 120, 240 days). The pools scroll horizontally, so take a close look at every pool. Compare APY rates and benefits:

  

  

  

1. Selecting the Amount to Stake

• Enter the amount of LOVELY Coins you wish to stake.

• Note, instead of entering the desired amount, you can select 25-100% of your coins, using the percentage Bar:

• The system will show you potential rewards based on your input:

  

1. Confirming Your Stake

• Review the details of your stake (amount, pool, lock period, potential rewards)

• Click the 'Stake' button:

• The system will show your active stake and remaining Coin balance:

  

1. Monitoring Your Stake

• Scroll down to the 'My Stakes' section to view your active stakes:

You can see your staked amount, chosen pool, lock starting date, time left, and total reward.

1. Unstaking Process (After Lock Period)

• Once your lock period is over, you can unstake your LOVELY Coins and claim your reward

• Navigate to the 'My Stakes' section and select the stake you wish to end

• Click on the 'Claim reward' button:

Remember:

• You cannot unstake before the lock period ends

• Staked coins cannot be used for other purposes during the lock period

• Always ensure you're comfortable with the lock period before staking