One of the most important aspects related to the cryptocurrency sector is that of staking. Put simply, if a cryptocurrency that someone owns supports staking, such as Ethereum (ETH) and Cardano (ADA), that person can “stake” some of their holdings and earn a percentage-rate return over time. This is commonly done through a “staking pool,” which is analogous to an interest-bearing savings account.
A new kind of staking solution
In this industry, due to the sheer popularity associated with staking, new groundbreaking solutions are emerging with increased frequency. However, it can often be difficult to know which ones are worth the attention and investment, and that is exactly why Synapse Network has come up with a new kind of staking solution that is flexible in nature and aims to revolutionize the way that this process is carried out.
This new solution is referred to as the ‘Flexible Gamified Staking’ solution, and it was created due to the Synapse team listening to the community and catering to their changing requirements and desires. Basically, the community had some ideas about how staking should be done and so the Synapse team was only too happy to make the changes via this new approach. In terms of what it actually does, the solution shall reportedly offer protection against inflation and provide multi-level as well as long term benefits for the stakers with growing staking duration. The idea was to also reward those who had been using the current system for a while.
The ‘paths’
A unique aspect of this new solution is that it offers different paths. Essentially, these are different pathways which can be chosen according to individual needs and preferences and can provide varying amounts of allocation and APR.
Moreover, as each of these paths also involves different levels that can be reached on a monthly staking basis, the staker benefits would similarly increase per level. In this way, Synapse Network users are encouraged to use this new solution because by doing so, they will receive additional benefits and advantages. So, not only can the users pick the path that is best suited to them, but they can also receive extra incentives in the process.
Synapse Network is putting in the work
Of course, the new staking solution is not the only thing that is being offered by Synapse. Apart from it being one of the industry’s biggest cross-chain launchpad, Synapse Network’s Venture Capital has also been able to help provide support to many projects. Also, Synapse has the Technology Labs services that involve a sophisticated anti-bot solution as well as staking and vesting technology.
The team is highly capable with over 2 decades worth of relevant experience, and as per the roadmap, there are also plans to usher in the next stage of the decentralized finance revolution by providing some more features like yield farming. Needless to say, Synapse Network is an initiative that is certainly worth keeping an eye on going forward.
