Introducing Partner Staking Pools: A New Utility for the $LOA Token
As revealed in our revised roadmap last month, partner staking pools is a new initiative that we are proud to present. The idea was conceived to create new utilities for the $LOA token, thereby providing token holders more ways to reap benefits before the rest of our marketplace features are launched.
On top of our existing farms, which allow you to stake $LOA or LOA-BUSD to earn $LOA, we are now partnering up with other DeFi and GameFi projects to allow staking and earning of other tokens on our marketplace as well!
How it works
- Partner staking pools are limited time only, and will end after the designated period is over.
- Our partners will deposit a predetermined amount of their tokens into a new staking pool, which will be viewable under the new ‘Pools’ section in our marketplace.
- These tokens will be released linearly on a daily basis over the staking period as rewards for users who stake $LOA tokens.
- Like traditional staking pools, your rewards will be determined by the percentage of $LOA tokens you stake in proportion to the rest of the users participating in the pool.
- To ensure that everyone has a fair chance to reap the rewards, a staking cap will be implemented to prevent whales from dominating the pool and reaping the lion’s share of the rewards by staking enormous amounts of tokens from the outset.
How to stake
- Simply head over to our marketplace at https://marketplace.leagueofancients.com/home.
- Click “Connect your wallet”.
- Scroll down and look for the partner staking pool you’d like to participate in (coming very soon!)
- Enter the amount of $LOA you would like to stake and click “Stake”.
- Approve the contract within your wallet and then confirm the amount of $LOA you will be staking.
- You have now successfully staked $LOA and will begin to earn our partner’s tokens!
On top of introducing staking pools hosted on the League of Ancients marketplace itself, we will also be participating in staking pools hosted on our partners’ platforms, where users can stake our partners’ tokens to earn $LOA.
This allows League of Ancients to be exposed to new user bases from other DeFi or GameFi projects, bringing in new token holders from crypto communities around the world.
The impact of this new endeavour is twofold — firstly, it increases the $LOA token’s utility, value, and holders. Secondly, it brings us another step closer to our ultimate goal of integrating League of Ancients into the Metaverse; by promoting interoperability of tokens and fostering closer relationships with related projects, we are setting the stage for more possibilities in the future.
We will be revealing our first staking partner very soon, with others already in the pipeline. More information will be released on our social media channels in the following days, so do follow us for updates — and remember to get your $LOA tokens ready!