DAO REWARD - STAKE FARM
Holders of Skate Metaverse Coins (SMC) have the ability to stake their tokens at stake farms in order to get DAO rewards. Your choice of staking method will have an impact on the yield in a variety of ways. The data panel in the DAPP allows users to examine the yields that were obtained from a variety of staking cycles. You may stake SMC on the DAPP by following the instructions in this video, which can be found at https://youtu.be/lTqwqbVUUkw FEW THINGS GOOD TO KNOW ABOUT STAKING: 1. At this point, there are four separate staking periods, and each one has a unique yield.
◾ At the beginning of the staking process, you will have the option to either invest with simple interest or compound interest. Both simple interest and compound interest have certain commonalities and have some key distinctions, which are as follows:
- Common: Before the completion of the first staking cycle, you will not be able to retrieve the staked tokens and prizes you have earned, and you will not be able to change the interest type from simple to compound interest, and vice versa.
- Difference: When using the basic interest option, there will be no further incentives created after the period has ended. Additionally, staked tokens and payouts should be received on time. In the mode that calculates compound interest, after the cycle period has elapsed, it will continue to reinvest the funds using smart contracts. The longer you stay in the game, the more lavish the benefits you will get.
3. You always have the option to stake more tokens depending on the number of tokens you started with. Through the use of smart contracts, the time needed to file a claim and the revenue earned will be recalculated.