DeepStake provides staking services with a focus on enhancing staking yields while keeping its offering in sync with the market’s liquidity requirements through DEST.
What is DeepStake?
DeepStake is a blockchain project that makes it easy to earn interest on locked virtual currencies. Consequently, it drives the yield farming craze synonymous with the decentralized finance (DeFi) ecosystem. The platform runs multiple pools, and its architecture helps it to adapt to continuously evolving industry conditions.
While DeepStake is built around sustainability, it doesn’t delegate profitability and longevity. Its native token, DEST, helps the protocol maintain a constant connection with the DeFi industry.
The DEST Token: Tokenomics and Acquisition
The network’s base asset simplifies interaction with the DeFi space, especially for newcomers on the DEST-powered platform. Apart from providing a link, the native token streamlines yield farming by presenting a lucrative annual percentage yield (APY) without compromising security and ease of use.
Unlike other DeFi projects, DEST has no pre-mine, meaning that its total supply at launch is zero tokens. Also, out of its one 1,000,000 lifetime supply, there are no allocations to the team, marketing, etc.
As such, everyone has an equal chance to benefit from the DeepStake ecosystem through claiming, staking, and buying DEST coins.
However, the platform offers a DEST purchase discount of up to 60% until April 28, 2021. Note that staking rewards differ depending on the staked amount. Although most have an APY of 335%, others have an APY of 2550%.
The rewards have a lockup period of one month. Among available coins include Ethereum (ETH), Uniswap (UNI), and Tether (USDT).
The major benefits of staking DEST include the chance to interact with leading virtual currency liquidity pools, earning the highest APY payouts, paying the lowest staking/administration fees, and interacting with a highly-secured protocol.
DeepStake supports the purchase of the base asset through its website, after which it will be listed on Uniswap.
Currently, the platform is in the beta stage. A timer on its website shows that it will enter public usage in approximately 30 days. But, as it sheds the beta tag, it has attractive future plans.
Significant events in its roadmap include:
- Yieldex – Also known as yield index, hosts DeepStake’s suite of yield farming products for investors with different risk appetites and growth opportunities. The offering will have separate pools, with each pool having a distinct array of cryptocurrencies.
- Super Yieldex – This will be the highest valuable pool housing Bitcoin (ETH), ETH, and other major coins in the cryptocurrency space.
- Blue Chip Yieldex – It will become active in the coming months and concentrate on the DEST token. More than offering the highest APY in the ecosystem, it automatically searches and advises how best to earn maximum yields on staked funds.
- Stablecoin Yieldex – The pool will focus on users who want to keep their staking risks low but improve received incentives.
Also, DeepStake allows its community to vote on the creation of new pools. Note that DEST gives them voting rights. Also, the strength of a vote depends on the number of tokens held at voting time.Contract address:
Buy DEST on Uniswap