Dear Community,
We are happy to announce the launch of our CFLO staking pool on the Ethereum Network on August 15th, 2021 at 18:00 UTC.
If you know your way around staking, just go to our staking platform, choose the desired staking pool, and click on participate. We have a Standard Staking and Liquidity Pool option.
If this is your first time and you have some questions about staking, keep reading to learn more about it and specifically how it works for the CFLO tokens.
If you still don’t have CFLO, you can buy it on Uniswap. Here’s a step-by-step guide on how to do it in case you’re not used to buying ALT coins on decentralized exchanges like Uniswap. If you already own CFLO tokens, you can use those to add them to the staking pool.
Okay cool, now that you have or know how to buy CFLO tokens, let’s get to business.
Rewards and other key items I should know about
Let’s start by talking about the staking options we will have: Standard Staking and Liquidity Pool staking, both through the Proof-of-Stake consensus mechanism. If you want to learn more about what staking and liquidity staking are, you can read our article: ChainFlowers Staking.
Standard Staking
Here are the important factors about the standard staking:
Rewards: 30% APY (Annual Percentage Yield) — this means that you will get 30% above the number of tokens you stake. For example, if you stake 10,000 CFLO tokens for a year, you will get 3,000 CFLO tokens as a reward.
If you withdraw your tokens before the maturity lock-time, you will only get 10% of rewards.
Lock-time: The maturity or lock-time to unlock the full reward (30% APY) is 365 days.
Minimum holding period: What if you want to withdraw your tokens before the maturity period instead of getting the full reward? You can, but only after 30 days of staking. That’s the minimum holding period.
Contribution time: You will have 35 days to make your investment, then the pool participation will be locked. The staking pools will be open from August 15 to September 20th, so make sure you invest before the deadline.
Network jurisdiction: It doesn’t matter where you’re located, you can be part of the staking pools.
Minimum token requirement: There is no minimum required. You can stake as little or as many CFLO tokens as you wish. The more you invest, the more tokens you make.
Liquidity Staking
In order for you to provide liquidity to the CFLO token, which is one of the goals of the liquidity staking, you’ll have to invest equal sums of ETH and CFLO to the pool. For example, if you invest $100 worth of CFLO, you will also have to invest $100 worth of ETH. Hence why you get double the % in rewards compared to the standard staking.
Here are other important factors about the standard staking:
Rewards: 60% APY — this means that you will get 60% above the number of tokens you stake. For example, if you stake 10,000 CFLO tokens for a year, you will get 6,000 CFLO tokens as a reward.
If you withdraw your tokens before the maturity lock-time, you will only get 30% of rewards.
Lock-time: The maturity or lock-time to unlock the full reward (60% APY) is 365 days.
Minimum holding period: What if you want to withdraw your tokens before the maturity period instead of getting the full reward? You can, but only after 30 days of staking. That’s the minimum holding period.
Contribution time: You will have 35 days to make your investment, then the pool participation will be locked. The staking pools will be open from August 15 to September 20th, so make sure you invest before the deadline.
Network jurisdiction: It doesn’t matter where you’re located, you can be part of the staking pools.
Minimum token requirement: There is no minimum required. You can stake as little or as many CFLO tokens as you wish. The more you invest, the more tokens you make.
Any other requirements? Unlike mining, you don’t need expensive, extremely high-performance equipment, which also makes it more energy efficient (less electricity required).
Ferrum Network
We are launching our staking program through the Ferrum Network, a deflationary cross-chain Blockchain as a Service DeFi company that specializes in adding token utility and advisory services to projects across the crypto space.
Wrap-up
Staking is a nice way to earn passive income, but not only will you be making money, you will be strengthening ChainFlowers’ governance, participation system, and network security. These are factors that help tokens gain value and therefore increase the value dollar of your token investment.
As our friends at Coin Market Expert say: “The idea here is that making good decisions will result in value creation and eventually long-term price appreciation of the token that is being staked”.
In 365 days, there will be around two million CFLO tokens distributed in rewards. That equals to $440,000 based on CFLO’s market price today ($0.22). Ready to be part of the rewarded stakers?
Awesome, we are too! You can click here to do it.
Note: remember you won’t be able to add your CFLO tokens to the staking pools after September 20th. The pools open on August 15th and you will have 35 days to invest.
Let’s Connect!
Stay tuned for more exciting news in the upcoming days and weeks!
Website: https://chainflowers.io/
Telegram: General ChainFlowers & ChainFlowers Announcements
Facebook: https://bit.ly/3uv5gxW
Twitter: https://twitter.com/CFLO_Official
Medium: https://chainflowers.medium.com/
