Staking OGC
Last updated
Last updated
At the beginning, let's tell a little introduction for those who don't know at all what staking is.
Imagine that you own a certain amount of cryptocurrency and you want to earn monthly profits based on your shares in the project. You can freeze your coins for some period of time to earn a percentage of it. This practice is called Staking.
The basic idea behind staking is that a user participating in the staking process locks his coins for a certain period of time. In return for this, he receives a reward or a percentage of the total amount of coins frozen in staking.
First, staking allows projects to reach a higher level of security and decentralization. When coin owners blockchain, they become "stakers" and can make decisions about the project's operability, verify actions and confirm their validity through voting (DAO*). In this way, the project becomes more sustainable by making informed decisions.
Secondly, staking allows you to earn passive income. By being a staker, you earn a percentage of your frozen coins. This is a great way to grow your portfolio and earn additional profits.
Also, staking benefits the entire cryptocurrency ecosystem. The return of percentage to coin owners motivates them to block their assets repeatedly. The more coins that are blocked, the less volatile the price of the coin is.
OGC's revenue will be more of a way to reward community members. Therefore, 80% of all project revenues will be used to invest in the gaming industry, as well as to develop elements of the ecosystem to further enrich the community. The income from the investment will be distributed to token holders, which are placed in staking, and to buy back OGC tokens from the market, to maintain the price.
Depending on the period of token staking, an increasing multiplier applies, viz:
3 months - multiplier 1.25
6 months - multiplier 1.5
12 months - multiplier 2
24 months - multiplier 3
36 months - multiplier 5
Obviously, the period of staking greatly affects the amount of rewards.
Also, there will be regular drawings of valuable prizes among the stakers.
Another important reason to place tokens in staking is to participate in the DAO*. In order to make decisions about actions within the ecosystem you need to keep tokens in the token stack, the more tokens you have in the token stack, the more votes you have to make decisions.
