Polyhedra Network has announced the launch of its new Staking Program. The Polyhedra Staking Program will officially begin on June 10, 2024. This new feature is a revolutionary concept which lets the users stake their Polyhedra Network tokens and make them work for Staking Power. Rewards will be calculated and distributed every Thursday at 00:00:00 UTC over a four-week period.
We're thrilled to announce the launch of the Polyhedra Network Staking Program on June 10th, 2024! 🎉Check out the program details: https://t.co/N8FfUCwqTIJoin our community AMA about staking on Discord at 14:00 UTC, June 8th. Ask any questions regarding staking and earn… pic.twitter.com/5Y6yUcPepM
— Polyhedra Network (@PolyhedraZK) June 8, 2024
Staking Power Brings Big Rewards with Polyhedra Network
The staking program allows users to earn rewards through the staking power. It is dependent on the Polyhedra Network tokens that have been staked as well as the staking period. The amount of reward each user is going to get will depend on his or her share of the total staking power among all the participants.
The reward distribution schedule consists of 50,000 $ETHFI tokens for the first and second week, 40,000 $ID tokens for the third week, and 50,000 $CYBER tokens for the fourth week. These rewards are to be given on 13th June, 20th June, 27th June and 4th July respectively.
Polyhedra Network’s Staking Program Designs to Attract Participants
In order to acquire Staking Power, users have to lock up their Polyhedra Network tokens. The quantity of Staking Power a user controls depends on the number of tokens staked and the duration of the staking period. However, Staking Power cannot be traded or transferred like tokens on the blockchain. Therefore, the Staking Power balance will decline slowly to zero by the end of the staking period. Finally, users can free up their staked tokens, in that way making staking both safe and profitable at this time.
This program offers users of Polyhedra Network an advantage of earning more tokens while contributing to the network at the same time. Polyhedra Network’s Staking Program is designed to attract participants and have a long-term active interested audience in the network.