Yearn Land is excited to announce that a staking opportunity will be accessible to holders of our native yLand token. We have now finalized our discussions with Ferrum Network and we will be releasing Yearn Land’s Web-Based Staking on 7 October 2020. Ferrum Network is the best choice for Yearn Land’s Staking as it builds a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption. We build on Ferrum Network’s established and 100% trusted staking platform. In today’s post, we are sharing important information on the structure and rewards of Yearn Land Staking.
Yearn Land staking is like earning a passive income on a decentralized bank account, where stakers lock their tokens and earn high yields based on the length of time staked. The longer you stake, the higher the rewards, as follows:
- Daily: 0.2%
- Monthly: 6%
- Annually: 73%
Yearn Land’s First Staking Pool details:
- Staking Cap: 1,000 yLand Tokens
- Staking Start Date: 7 October 2020, 3PM CET (Switzerland Time)
- Staking End Date: 10 October 2020, 3PM CET (Switzerland Time)
- Withdrawal Start Date: 12 October 2020, 3PM CET (Switzerland Time)
- Withdrawal End Date: 10 October 2021, 3PM CET (Switzerland Time)
- Contract of the Staking Rewards: https://etherscan.io/address/0x679df49198614623b6266e559d4abc8bf29f1568#code
Yearn Land’s 1ST Staking Program will run for a year, and the structure will be pool based, wherein a total reward of 736 yLand tokens await the Stakers. It is also flexible, as Stakers have the option to withdraw anytime from 12 October 2020, 3PM CET. There will be no fees associated to both staking and withdrawal of staked tokens and claiming of rewards. There will also be no minimum staking requirement i.e. you can stake any amount of yLand tokens that you have. However, please note that if you withdraw early, you cannot re-enter the staking pool.
Staking is typically only accessible among large-cap proof-of-stake networks. Exciting nascent projects such as Yearn Land Finance, which utilize staking as an essential part of their governance, have typically been unavailable to those seeking high-yield staking opportunities. Through this partnership with Ferrum Network, staking in one of the most promising emerging DeFi products will become accessible to participants of the platform.
We will shortly be providing a detailed guideline on how the staking will work on the Ferrum Network Web-based staking platform. Stay tuned on Telegram and Twitter for important updates.