Unleash the full potential of NFT staking with Lynk
Lynk, the SocialFi platform leading the push of the Web 3.0 era, has announced the launch of its NFT staking portal that will help users unleash the potential of their Lynk NFTs.
From 13th March 2023, 05:00 UTC, members can stake their Finder and Keeper NFTs to earn attractive dividends daily, with additional opportunities to accelerate rewards through community-led activities and challenges.
What is NFT Staking?
NFT staking involves temporarily locking NFTs on a particular platform or protocol to gain rewards and other benefits. It is a process that enables NFT holders to leverage their unused assets without having to sell them. This mechanism works in the same way as the staking for cryptocurrencies, where a participant can participate in the staking process with only a digital wallet.
Staking NFTs allows users to earn passive income from their idle assets. The NFTs remain in the user’s possession and they have the freedom to remove them from the stake at any time. This presents an incredible opportunity for NFT holders, as they now have an additional source of income generation without having to sell their NFTs. Similar concepts have emerged following the introduction of NFT staking, such as NFT lending or fractional ownership of blue-chip NFT pools.
NFT staking may seem like a new concept, but several prominent players in the blockchain space have already started experimenting with it. Binance, perhaps the world’s largest centralized exchange, launched an Ape NFT Staking Program for users who own NFTs in the Bored Ape Yacht Club (BAYC) to earn daily rewards.
Lynk NFT Staking
Lynk hopes to replicate the same level of success for their NFT collection, and they’re doing it with a twist – while betting, users can level up their Finder and Keeper NFTs simultaneously to maximize their daily rewards.
Finder and Keeper NFTs hold the keys to unlocking the mysteries behind LYNKVERSE. Both NFTs have 4 attributes: Charisma (CA), Vitality (VA), Dexterity (DX) and Intellect (IN). These attributes directly affect the amount of rewards users can receive daily when staking their NFTs.
Lynk currently offers an attractive annual rate of return (APY) ranging from 256-438%. There will be no additional fees for the betting process. Users will only have to pay a nominal gas fee, thanks to Lynk’s deployment on the Layer 2 Arbitrum network.
A decentralized platform that aims to build and promote a thriving community in the Web3 economy, Lynk provides its users with a unique virtual world LYNKVERSE where they can interact with others, form new partnerships and alliances, participate in various activities and express themselves through their very own Finder and Keeper NFTs.
Committed to providing its community with the best tools and resources to succeed in a decentralized world, this new effort represents Lynk’s desire to push the boundaries of NFTs and empower users in the Web3 world.
To stay updated on Lynk’s progress and its latest announcements, be sure to follow the platform’s social media channels.
Website: http://lynk.im/
Twitter: https://twitter.com/lynksanctuary
Discord: https://discord.gg/6JcgvUzdPj
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