The DittoMoney team has launched its novel liquidity incentive program, coined “Compound Staking”, allowing users to simultaneously earn rewards in three different tokens.
Ditto Money Compound Staking
Trainer Chad and his team over at Ditto Money have come with a novelty, a first off, not only on the Binance Smart Chain (BSC) but for the De-Fi space as a whole…
Compound Staking!
The Ditto team held a three-day testing period for its new Compound Staking, allowing 30 participants to test from January 1st – 3rd. There was a bounty for up to 100 $BNB to be earned for reporting bugs and vulnerabilities during this period. The Ditto Money team is now ready for the real deal, unrolling their unique Compound Staking with additional incentives, which is live starting January 4th, 2021, at 9.00 AM UTC.
The unique thing is that the Liquidity Provider (LP) will get not two but three reward tokens from staking their LP tokens.
Rewards
Staking your LP tokens will reward you with $DITTO, $CAKE, and $BNB tokens. The $BNB tokens will come from a unique bonus pool that consists of 250 $BNB tokens donated by the Ditto Money Team. The team finds it important to reward their loyal community members. To achieve this, the team will distribute additional rewards the longer you leave your LP staked. More specifically a multiplier was assigned on the DITTO rewards that goes up to 3 times (3x). Users who wish to receive the max multiplier must stake for two weeks. This multiplier does not exist for the BNB and CAKE rewards, solely on DITTO rewards. For more information about the reward multiplier, check the Ditto Money Medium page HERE.
How and Where?
You will need to make $DITTO / $WBNB LP token(s) to participate and then put them in the pool over at the Ditto Money site. The needed LPs can be created HERE at PancakeSwap. After creation, you can go to the Ditto Money Staking page HERE and put your LP to work, sit back and relax, earn $DITTO and $CAKE, and even $BNB.
Note that the $BNB tokens will be distributed at the end of the staking period. To be eligible for the $BNB rewards, you must leave your stake until the end of the staking period. The staking will end January 25th, 9 AM UTC, so be sure to keep your tokens staked until then if you want to receive the additional BNB rewards.
Summary
Ditto Money is starting a dual or triple staking system, an entirely new concept for the De-Fi space. This staking will be active fromJanuary 4th, 9AM UTC to January 25th, 9AM UTC. Rewards for staking your $WBNB / $DITTO LPs will be distributed in $CAKE, $DITTO and $BNB.
The Ditto Money Team has provided the additional 250 $BNB rewards pool as an incentive for their loyal community members. The longer you stake, the more DITTO rewards you will get. Rewarding loyalty. On top of this, users who stake before the staking period ends will be eligible for a portion of the $BNB rewards.
Are you enthusiastic yet? Yes? Ditto for me.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
At the end of the day none of our articles are advice and all financial decisions should be made on your own behalf or from a professional financial advisor.
Source : bsc.news
