Blockchain

The Importance Of Staking And How One Cross-Chain Launchpad Might Just Change The Game

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.

Angela Scott-Briggs

Editor, TechBullion.com | Interested in Innovations in Business, Finance, and Technology .

Share
Published by
Angela Scott-Briggs

Recent Posts

How to Rent a Cab in South Goa Without a Driver

If you're planning a trip to Goa, one of the first things you'll need to…

2 hours ago

Career Motivation For Fresh Licensed Nurses

A career in nursing can be both personally and professionally rewarding. As a nurse, you…

2 hours ago

Linner Nova: The Hearing Buds from Linner Generating a Lot of Buzz

Providers of innovative medical devices, Linner, continues to garner reviews for Linner Nova, a revolutionary…

2 hours ago

7 Best Bitcoin Mining Software In 2022 [Free Tutorial]

Ten years after Bitcoin's first success, cryptocurrency mining is still hugely popular. As it is…

2 hours ago

What Is Premises Liability? What To Do In Such Situations?

The most significant responsibility of a property owner is to maintain a safe environment for…

3 hours ago

Peppy Pet Ball Reviews (Critical Update): Why Peppy Pet Ball is the Best Pet Toy.

Peppy Pet Ball Reviews After several hours of research, consulting experts on peppy Pet Ball…

4 hours ago