The growth of the crypto space, as evident in the last couple of years, has opened up opportunities for investors to make colossal returns on investments, one such way is by staking. Entailing the process of committing crypto assets to a specific blockchain, staking allows investors to earn cryptos as a reward for putting their tokens to work.
The acceleration of this nascent trend has prompted the development of a plethora of staking platforms, all claiming to offer higher APYs [annual percentage yield]. While there are tons of them, Kraken and Binance have cemented their stance as leaders of this emerging market, both offering between 4 to 12% APYs.
When examined against these leaders, ViperSwap offers a ridiculously higher APY — over 1,000% on most liquidity pools, making it lucrative yet unreliable. This, however, presents the need and space for a sustainable, trustworthy, and secure platform with a remarkably good APY — WagyuSwap.
The Great Steak kicks off with the introduction of $SCAR staking – And the native token from Velhalla’s metaverse project certainly looks to be going down a treat in the kitchen.
According to the development team, plans are underway to introduce the earning of ASTRA, BitOrbit, TRONPad, BSCPad, VelasPad, and a list of other potentially rewarding coins.
A product of the Velas ecosystem’s $100 million grant, WagyuSwap’s staking announcement is exciting news for all in the community. It is further proof of Velas’ promising ecosystem which currently offers the fastest off-chain transaction per second [TPS] and has led to the development of over 40 projects so far, per the project website. With more projects yet to receive the grant, Velas is seeking to fast-track the development of useful and future rewarding projects.
With plans in place to announce and launch more partnerships and projects in the coming months, we will be keeping an eye on the Velas ecosystem, WagyuSwap, and other emerging projects.