Staking Rewards
7. Staking Rewards
7. Staking Rewards
7.1 Overview
Mega Dice has a generous system for rewarding holders of $DICE, and even more so for those who stake their tokens.
Staking has emerged as a powerful way to incentivize long-term holding and participation within a cryptocurrency ecosystem. For Mega Dice, staking $DICE not only promotes token stability and fosters community loyalty but also allows stakeholders to earn passive rewards, amplifying the benefits of being a part of the ecosystem.
7.2 Basics of Staking $DICE
7.2.1 What is Staking?
Staking involves locking up a certain amount of $DICE within the platform for a predetermined period. In return, stakers receive rewards in the form of additional $DICE tokens and in the 6 month locked pool SOL is also received as a reward, essentially earning interest on their staked amount.
7.2.2 Why Stake $DICE?
Staking offers multiple benefits:
Passive Rewards: Earn rewards in the form of additional $DICE tokens and SOL (6 Month Pool)
Enhanced Platform Loyalty Bonuses: Stakers get preferential treatment in terms of bonuses, offers, or game access.
Supporting the Ecosystem: By reducing the circulating supply temporarily, staking can contribute to token price stability and increases.
7.3 How Rewards are Distributed
Rewards are calculated based on the staked amount and the duration. Rewards can be claimed at any time through the website and can be used in the casino, restaked or kept in your wallet. At the end of the staking period, the initial staked tokens plus any unclaimed rewards are available to be claimed using the staker's wallet.
7.3.1 Staking Locking Period
When you add tokens to the staking pool, they will be locked for the time shown in the pool. There are 3 pools: 10 days, 3 Months and 6 Months. If you add any extra tokens to the pool either through restaking or adding tokens from another source such as buying them from the open market or winnings from the casino, the pools behave slightly differently.
10 Day Pool - adding extra tokens restarts the 10 day lock period.
3 Month Pool - adding extra tokens does NOT add extra time.
6 Month Pool - adding extra tokens does NOT add extra time.
Rewards that are accrued in that time however can be claimed at any time and can be used in the casino, kept in your wallet or restaked to compound your holdings.
7.4 Security and Trust
Smart Contract Assurance: Staking will be governed by smart contracts, ensuring transparency and preventing any malicious activities.
Periodic Audits: Regular audits of the staking contract will be conducted to ensure its security and integrity.
Withdrawal Assurance: While tokens are locked during the staking period, stakers can be assured of receiving their staked amount plus rewards at the end of the term.
7.5 Reinforced Ecosystem Engagement
Beyond the immediate financial rewards, staking $DICE will also entitle members to:
Exclusive Access: Stakers can receive first-hand access to new games, features, or promotional events.
Community Recognition: Recognizing top stakers in the community can foster healthy competition and further engagement.
7.6 Conclusion
The staking rewards system of Mega Dice accentuates its commitment to rewarding its community and ensuring platform sustainability. By offering tangible benefits for holding and staking $DICE, it solidifies its position as a platform that truly values its stakeholders.
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