If there’s anything the crypto industry is known for, it’ll be its market volatility, which could be a turn-off for some investors. The idea of not knowing what could happen next with your token is crippling. However, there are a lot of crypto projects that now create alternative ways for users to make profit. For platforms running on the Proof-of-Stake (PoS) consensus mechanism, like Parody Coin (PARO), the major one is staking for rewards.
Avalanche (AVAX)
Avalanche (AVAX) is a blockchain network with smart contract functionality that is fast, low cost, and eco-friendly. The protocol claims to be the fastest smart contracts platform as measured by time-to-finality. The network has a native token, AVAX, and holders of the token can help to keep it secure by staking their tokens, running a node, and earning rewards in the process.
On Avalanche (AVAX), token holders do not have to fear their staked tokens getting slashed. The platform promises that if they meet parameters, they will be rewarded. Stakers can earn up to 11% APY on staked tokens and they can set their fees for accepting delegations to their nodes. Doing this helps the protocol to secure and develop the growing network of new applications and assets launching on it every day. The staking process on Avalanche (AVAX) requires the lightest requirements of any blockchain platform and no special expensive equipment.
Polkadot (DOT)
Polkadot (DOT) is a blockchain platform that enables the transfer of messages in a trustless manner across diverse blockchains while pooling their security. It is a scalable, multi-chain, and heterogeneous network.
Due to Polkadot’s use of the Nominated Proof-of-Stake (NPoS) consensus mechanism, it allows holders of its native token DOT to participate as nominators. Nominators are required to nominate candidates they trust that can help them earn rewards in the chain’s native token. On the platform, nominators can back up to 16 validators. The validators do the bulk of the work and nominators are supposed to monitor their validators’ uptime, pay attention to changing commission rates and keep an eye on the general health of their validators’ accounts and theirs.
The reward distribution on Polkadot (DOT) is pro-rata to all stakers and this is after the commission of the validator has been deducted. This ensures that the network creates incentives for the nomination of lower-staked validators to create an equally-staked validator set.
Parody Coin (PARO)
Built on the Binance Smart Chain (BSC), Parody Coin (PARO) is a deflationary BEP20 utility token that is currently in its presale phase. The platform has plans to create various opportunities to reward users’ participation in their interactive Paroverse.
The Parody Coin’s ecosystem has a feature called the ParoRewards that has a staking component that allows for earning a part of the reward that the foundational BNB Chain network pays. It is a system that rewards holders of its native token PARO with BEP20 tokens. The protocol uses a bridge to convert some of the staked tokens into BEP20 tokens that can partake in the network’s consensus mechanism, and a smart contract distributes the reward to PARO token holders. For users to partake in this system, they would need to lock their PARO tokens for over two weeks. This is an incentive system implemented by the platform to get more people to hold the token in the long term.
For More Information On Parody Coin (PARO)
Presale: https://presale.parodycoin.io/
Website: https://parodycoin.io/
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