Differences between VIP Stake and Normal Stake
Hey WingMen, your wait is offset right now!
VIP Staking has been established, but do you actually understand it thoroughly?
Don’t worry! Details are below!
Staking, in general?
Staking cryptocurrencies is to keep the blockchain network safe, by committing the crypto assets to support and confirm transactions.
For buyers, staking is simply: “holding” a certain amount of cryptocurrency in the wallet for a certain period of time to receive rewards. The reward that investors receive depends on the amount of coin staked and staking duration.
What’s the difference between WingSwap Regular Stake and VIP Stake?
- Lock Period
- Regular Stake: No time limitation.
- VIP Stake: Users can choose to stake in a flexible set of time from 1 month up to 5 years, or a fixed time of 3, 6, 9, 12 months.
2. Token Allowed
- Regular Stake: WIS token only
- VIP Stake: WIS or LP token
3. Rewards Earned
Rewards earned from VIP Staking will be much higher than Regular Staking.
- Regular Stake: Users receive WIS/xWIS corresponding to the amount of WIS staked
- VIP Stake: Users receive WIS/xWIS corresponding to the amount of value (USDC) added and the time-locked for staking. Particularly, investors earn an amount of xWIS right after staking and get more during claiming rewards. Users can also get an additional SHIP BOOSTER NFT reward when you stake to a certain level. When the lock periods end and users have yet to unstake, they will receive rewards with Regular Staking rate apart from the rewards of VIP Staking.
4. Multiplied APR
- Regular Stake: APR is fixed.
- VIP Stake: Reward will be based on the APR of Regular Staking. Different lock periods provide different reward rates.
WingSwap is a decentralized exchange built on the Fantom Opera chain that allows platform members to provide liquidity and create a market for others to exchange their original tokens.
Apart from this, the platform is created with multiple unique features such as an exchange, NFT marketplace where users can buy and trade NFTs. With this, WingSwap is set to change the narrative and redefine the DeFi industry.
We envision an ecosystem where fast, easy, and affordable decentralized finance products and services that meet the needs of users are delivered in a timely, responsible, and sustainable way.
Apart from this, we project a platform that will be the forerunner of all DeFi products and use cases in the nearest future and easily accessible assets with more use cases that will drive adoption, increase demand and value.