Stake it 'til we make it
DOOR πͺ is excited to announce our Staking Program. You can now stake DOOR thru the MyDoorWallet.com app. You can earn up to 81% APY. (Yes, you read that right)
Staking is one of the most popular features of decentralized finance. Earning interest in your cryptocurrency is a great way to generate passive income or simply grow the value of your crypto holdings. π°π°π°
The concept of staking (also yield farming) is simple. You lock up π your tokens for a period of time π, and you earn high-yield interest. Although there are many tokens and coins that offer staking and/or yield farming - the APY % they offer is a very wide range.
For example, Ethereum, Bitcoin and most of the well-known coins offer between 4% to 18%. On the other side of the spectrum, some tokens offer much higher yield (some 40%, 70% or more).
Of course you have to consider other factors when deciding on which token you want to buy and stake (volatility, volume, liquidity, team, vision of token). I am not a financial advisor, but we highly recommend everyone do their research before simply selecting the highest yield.
Earn up to 81% APY
When we decided to launch staking as an option for our holders, we wanted to be aggressive and compete with some of the more popular staking programs. Our decision was based on three major factors:
We wanted to reward our early holders. The HODOR 365 Pool which rewards β 81% APY β is limited to 5,000,000 total DOOR Tokens. Which means once the pool is sold out, there will never be another pool with a better APY.
We wanted to attract new holders ππ. Our goal is to grow the number of holders we have of DOOR and to show them how much we reward Holding the Door.
Holding the DOOR is our mantra. In order to show how serious we are in rewarding holders, we wanted to have one of the best yields available.
First Family of Staking Pools
We launched four Staking Pools in our first release. As these pools fill up, we will launch new pools. (Note: The APY % of new pools will be less than these pools).
The three HODOR Pools are for 365 Days, 180 Days and 90 Days.
Each provide a competitive yield and have different minimum requirements.
Off to a Good Start
Since we did a βsoftβ launch yesterday to our Telegram Group, we have already seen momentum. βββ Over 450,000 Tokens have been staked in the HODOR Pools. βββ A majority of the staked tokens are in the HODOR 365 Pool.
Our plan is to begin marketing our new Staking Programs starting Sept 15th.
Holding the DOOR
The overall impact of the Staking Program can be significant if we are able to attract new holders looking for high-yield staking programs, and get more current holders to lock up their tokens. These two factors can reduce the circulating tokens available on the market, and also drive more people to buy DOOR moving forward.
Of course, itβs impossible to predict what will happen. But, we are excited to find out.
#HoldTheDoor πͺ