Hedge your bets on the Play-to-Earn genre by staking $META
News provided byMETA ARENA
Nov 24, 2022, 10:00 AM ET
Las Vegas, NV, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Since META ARENA, formerly KLAYMETA, was released, the play-and-earn metaverse and its token $META have both experienced significant growth. Staking, which allows $META holders to earn more $META and contribute to the game's governance system, has allowed users to use $META staking as a hedge on the entire GameFi ecosystem. So, how can you utilize META ARENA staking as a hedge on Play-and-Earn?
META ARENA, a play-and-earn MMORPG with metaverse and NFT integration, uses key features, including fusion, summoning, staking, and other game types, to keep players interested. The META ARENA game strives to give players a rewarding and engaging experience. Participate in several game types (Meta Quest & Adventure) and earn the utility token $META.
Staking is essentially a method of rewarding participants for securing $META to share in the ownership of META ARENA. By staking $META, you will gain the opportunity to speak and vote during future governance votes and receive a portion of the fees the game makes. Additionally, you can earn more $META as a reward by participating in governance and playing the game.
Staking cryptocurrencies like $META lock up your assets to participate and contribute to maintaining the blockchain's security. Validators are compensated with additional $META referred to as staking rewards. By staking in $META, you can get paid for utilizing your current holdings to fund transactions on the blockchain network. It is also a means by which cryptocurrency users can make passive money.
Stake Your $META
To start staking, head to the META ARENA staking site, choose how much $META you wish to stake, enter the staking duration, and click connect to access your Klaytn wallet with your $META and begin staking. Participants in $META stakes will gain voting privileges in the META ARENA community for matters of general governance in addition to revenue benefits. Different staking periods will grant different rewards.
Long-term participants receive more voting rights and have more sway over the decision-making process because they are contributing more $META to their stake.
Every day at 9 AM, depending on the number of vMETA (voting rights) owned, a percentage of the META ARENA revenue will be distributed as $META.
The distribution happens as follows:
- Buyback 2.5% of the profits from limited sales, and the avatar summons to distribute $META.
- Buyback 1% of the market transaction charge to distribute META.
- Distribute 50% of the hiring and firing costs associated with the META Quest.
- All $META used for Special Summon should be distributed.
- Partially distribute the emergency unstaking.
All META staked by the player can be claimed once the staking contract period has ended and unstaking is carried out.
Even though the staking contract time is still in effect, it may be terminated. At this point, a fee of up to 50% is imposed; this amount falls linearly as the termination date draws closer.
As META ARENA is an innovative GameFi platform, staking your $META is essentially hedging your bets on the success of the GaemFi and crypto gaming ecosystem. If you’re interested in crypto gaming, it is implausible that you wouldn’t benefit from this excellent staking opportunity to not only earn passive income for yourself and contribute to the governance of META ARENA and receive platform fees.
However, it is important to still understand the potential consequences of staking any crypto asset. You will not have access to those assets, without penalty, until the lockup period is complete. META ARENA understands this problem, which is why players are rewarded for longer lock-ups, making a more significant commitment to the ecosystem, and should be rewarded for that commitment.
So what are you waiting for? Join their Telegram and Discord channels to stay up to date on the most recent META ARENA news for more information and updates, and start staking your $META today to hedge your bets on the GameFi ecosystem.
Jarrod (at) lunarstrategy.com