JulSwap offers an innovative NFT staking pool allowing users to earn NFTs (Non-fungible Tokens) for staking cryptocurrencies. The platform also provides special staking pools where NFTs are necessary to earn rewards.
Introduction to Staking Pools
Generally, a staking pool is managed by a pool operator, and stakeholders who want to participate will need to lock their coins in a particular wallet. Some staking pools may require their users to use a third party when staking their coins. However, other alternatives to this will allow stakers to stake their coins while holding them in their wallets. Today, we will look at two different types of staking pools — NFT staking pools and Special staking pools offered by JulSwap. But first, what is JulSwap?
What is JulSwap?
JulSwap is the equivalent of Uniswap on the Binance Smart Chain. JulSwap offers the same Trading Engine and analytics as Uniswap but innovates on their liquidity incentive model. The platform is the first to provide both NFT and Special staking pools to its users. Let us take a look at what both entail.
NFT Staking Pool
JulSwap’s NFT staking pool allows users to stake JULb/JULd, and the staked currency will be locked for a specified period. This means that they will be inaccessible until the time end of the set time. When this time is reached, users can withdraw all staked cryptos transferred into their specific wallets with the unique NFT cards as rewards. The NFT cards will be distributed once, so the distribution is unique and doesn’t surpass the allocated number. Therefore, the more JULb/JULd staked, the more NFT cards a user gets. However, the staking limit may be changed — maximum/minimum staking amount may be adjusted.
Also, to gain access to the NFT staking pools in the future, one has to use the NFT card from the previous staking pool. Failure to do this will make the NFT pool elusive.
Special Staking Pool
JulSwap gives its NFT cards a usage. This means that the NFT cards can be gotten via direct purchase on the market or by staking in NFT staking pools. The Special Staking pool gives a higher APR or rewards in unique kinds of cryptocurrencies. Moreover, users can unstake their staked amount and their staking rewards when each waiver is paid for with one NFT Card from the previous NFT Staking Pool. However, without the selected NFT card for the special staking pool, it is possible to stake but impossible to unstake.
JulSwap Sets up Special Staking and NFT Staking Pools
The platform has set up a unique NFT staking pool where users can stake JULb/JULd, and after four weeks lock up, users get to receive one or more BNB NFT cards. The BNB special staking pool will be opened after four weeks, and users will have the opportunity to stake JULd and receive rewards in BNB. However, users need to obtain the BNB NFT card to unstake JULd and claim rewards. In order words, to unstake or claim a reward, the BNB NFT card is needed.
Following the climax of the NFT staking pools, a new NFT staking pool will commence. Here, users will stake JULd/JULb, and this can only be done with the use of an NFT card from the previous NFT staking pool to access the new pool.
Source : bsc.news
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