🆕DFSocial Introduces Staking on Binance Smart Chain!🆕
DFS community, it’s been a whirlwind recently with all the new changes, but we have some more great news!
We’ve been listening and taking note of the suggestions of our loyal community, and they’ve been requesting a Staking Pool on Binance Smart Chain (BSC) for quite some time — and we’re taking action; DFSocial will be releasing our very own Staking Pool for BSC!
At DFSocial we are always striving to bring new and unique products and services. We’ve combined the philosophy of DeFi with the emergent sector of the NFTs: an all in one Staking Pool!
This Staking Pool on BSC has much lower fees compared to our other staking pool. Binance Smart Chain doesn’t have high fees, and we haven’t added any withdrawing fee (0%), so this means there will only be a 1% fee when staking. From now on, Gamers and Sponsors will be able to stake their gaming rewards and earn extra yield on the same network.
This time we’ve designed focused on bringing an attractive APY while making this new pool more sustainable in the long-term. With a lower APY, real long-term holders will benefit from passive income of their favorite crypto gaming project. Moreover, this will lead to a decrease of the selling pressure and as a consequence, we expect to see a higher price of DFSocial in the coming months.
ETH Staking Pool:
The DFSocial Staking on the Ethereum (ETH) network (Pool A) has been a complete success; a total allocation of 1,500 $DFSocial tokens is on the verge of being depleted and will soon be coming to an end. During 1 month, the ETH Staking Pool will still be available in the platform. However, deposits have been already disabled. We encourage stakers to unstake and move their tokens to Binance Smart Chain (BSC). If you are interested in continuing staking, please read the next 4 easy steps.
- Stakers of Pool A will be able to stake their tokens bridging their tokens via BurgerSwap
More info on how to swap your $DFSocial (Ethereum Network) to $bDFSocial (Binance Smart Chain) in the tutorial below👇
💰BSC Staking Pool:
- Base APY: 20%
- Staking Fee: 1%
- Unstaking Fee: 0%
- Lock-up Period: One (1) month
- +10% APY Bonus: Available with an NFT via DFS auctions, limited to 50 NFTs in the 1st set, with more sets coming in the future with different APY bonuses.
- Early End-Staking: An “Early Withdrawal fee” of 20% of total tokens unstaked will be applied for any premature end-staking before the 1-month lock-up expires.
💎NFT Auction System
For these NFTs distribution the team will use the same proprietary auction system as the one used for the first part of DFS NFTs Collection 1.
Each day, we’ll release two (2) NFTs up for auction.
🗓️1st auction: 21rd August 2021
Each Auction will work as follows:
- Only Binance-Peg BUSD Token (BUSD) BEP-20 will be accepted. Contract Address: 0xe9e7CEA3DedcA5984780Bafc599bD69ADd087D56
- Total Auction Duration: 10 hours each.
- Initial Bid: To Be Announced by DFSocial’s team.
- Minimum Increment per Bid: To Be Announced by DFSocial’s team
- Bid Withdrawals: Bidders who haven’t placed the last bid (if you’re not the current winner)
- If you’ve already placed a bid and want to increase the bid amount, you need to enter the total amount. Note: ONLY the difference in price between the two bids will be sent to the auction’s smart contract (e.g., the first bid placed was 100 BUSD). If you want to add 50 BUSD more, you’ll need to enter the total amount of 150 BUSD, at which point only 50 BUSD will be deducted from your wallet’s balance.
- 5-Minute Cool-Down Period: Once you place a bid in the auction, it won’t allow another until the Cool-Down period has ended (5 minutes).
When the auction ends, the winner will receive their NFT, and the other participants will automatically have their bid amounts returned to their wallets.
If you’re an owner of one of these special NFTs, you’ll be able to use it by clicking the “Boost APY with NFT 🔥’’ option in the staking page. This can be done the first time you add your tokens to the pool or if they are already in the pool. Once you use your special NFT you’ll increase your total APY based on the extra bonus of your NFT. Only 1 NFT of the same set can be used (with the same extra % APY). It will be possible to combine NFTs with different extra APY (from different sets)
At DFSocial, we don’t just listen to our community; we take action to ensure the long-term success of our gaming platform! As always, you can always ask questions and share your thoughts with the team via our Telegram chat or Discord channel.
It’s a great place to chat, find a Sponsor (to compete for free), or catch up on the latest developments — we hope to see you there!