Cake Monster launched the features to reward long-term holders for commitment and support.
Cake Monster Launch Baking and Staking Feature
Cake Monster has finally launched its highly anticipated Staking features. Baking and Staking is now live on the protocol’s Decentralized Application (dApp).
The Decentralized Finance (DeFi) platform now offers high Annual Percentage Yields (APY) rewards through baking and staking on two pools—bMOMSTA and sMONSTA. bMONSTA represents Baked MONSTA, and sMONSTA corresponds to Staked MONSTA. Cake Monster unveiled the new features to the public through Twitter on March 4.
“That oh-so-exciting moment you’ve been waiting for is finally here! The launch of the Cake Monster Baking and #STAKING Program,” Cake Monster tweeted.
Cake Monster launched both features to reward long-term holders. Holders who bake MONSTA tokens in the bMOMSTA pool would receive significant rewards on top of its innovative APY Boost. Although, users’ boost depends on how early they leverage the pool. The protocol’s staking page discloses an APY boost of 420%.
Both features add value to the $MONSTA token by removing MONSTA from the total circulating supply, eventually increasing its price. Already, users have started utilizing both features to earn rewards. As of writing, the Total Value Locked (TVL) has crossed $8million, and it’s not even up to a week since the service was launched.
Read Cake Monster’s article for more extensive information on Baking and Staking, containing details about both pools, reward mechanism, APY boost, and more.
What is Cake Monster?
Cake Monster (MONSTA) is a hyper-deflationary and elastic supply token with unique reserve and reward mechanisms, featuring an automated hybrid monetary policy.
Where to find Cake Monster:
Source : bsc.news
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