$BURP staking has finally arrived! The $BURP developers have been working tirelessly to roll-out the highly anticipated staking platform in due time after the token launch. The new staking platform provides a simplistic user-interface that can easily be used by all. However, for any new-comers and the inexperienced, this staking guide will walk you through the steps necessary to stake those $BURP tokens for the APR (Annual Percentage Return) on offer, and also qualify stakers to obtain NFT Raffle tickets and be in the chance to win exclusive generative NFTs.
For all the users who are still undecided, remember that the APR (Annual Percentage Return) will decrease over time as more people choose to stake and lock their $BURP tokens, so make sure you stake early to avoid lower rates!
At this stage it is imperative to mention that firstly users must install a web3 extension for a non-custodial wallet such as Trust Wallet or MetaMask and create a new wallet — remember to record your password and mnemonic seed phrase in a secure place. It is highly recommended to install non-custodial wallets using the link from the official websites. This is a precautionary measure as replicated apps can be found on the various app stores so be sure to keep secure and download extensions from the official channels.
Stake $BURP now:
$BURP — Stake $BURP token and enter the NFT raffle*
Stake $BURP token to start earning and enter the NFT raffle to win exclusive prizes.* *DeFi services (such as $BURP…
The steps are as follows:
1) Connect your wallet by selecting the “Connect Wallet” button
2) Select whether you’re using a MetaMask wallet or connecting a smartphone wallet
3) Enter the amount you wish to stake and how long you will lock the stake for. Locking for longer improves your APR and the frequency you earn raffle tickets.
4) The first time you stake you’ll need to click the “Authorise $BURP” button. Your wallet will then ask you to confirm the authorisation.
5) Once the transaction has been completed, you’ll have successfully authorised the staking contract and are ready for the final step, starting your stake.
6) Click “Start Stake” and confirm the transaction on the new popup
7) Once staked, the tokens will be locked for the time period as specified.
Please note that the NFT Raffle is coming soon. Please refer to the $BURP Staking and NFT Raffle Explained article previously published:
$BURP Staking and NFT Raffle Explained
With the $BURP staking launch today, we would like to start revealing even more about what you can expect from the…
Tickets for the NFT raffle are earned through staking $BURP. How many and how frequently you earn tickets depends on how much you staked and your reward multiplier. The NFT prizes come from our partners such as The Sandbox, Avastars, NFT Boxes, Polkamon, Ethermon, ChainGuardians, CryptoProphecies and have predetermined rarity levels which correspond to our reward multipliers. Staking these NFTs therefore, not only increases your APR but also increases the amount of raffle tickets you earn.
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$BURP is the official token of the $BURP ecosystem of products including but not limited to non-custodial token management, staking mechanisms, NFT raffles and swap-fee rewards via $BURPback.
CoinBurp is the cryptocurrency platform partner for the $BURP ecosystem and suite of DeFi tools. The tokens are not issued or controlled by CoinBurp.
Cryptocurrencies and crypto tokens are generally not regulated and investors do not have access to recourse or compensation schemes such as, for example, in the UK, the Financial Ombudsman Service or the Financial Services Compensation Scheme. Investing in cryptocurrencies and purchasing crypto tokens can be high risk and investors should carefully evaluate their appetite for risk and their understanding of trading cryptocurrencies prior to entering into a transaction.