$BURP Staking Launch Announcement
Available on Uniswap, Gate.io and KuCoin, $BURP (issued by Cede Fields LTD a company incorporated in the British Virgin Islands and distributed by KuCoin and Gate.io) had one of the most hyped releases of the year. The community’s recent support has been unbelievable and it’s great to see you all so involved and hyped about $BURP.
CoinBurp, as an ecosystem partner, is collaborating with the $BURP token team as they deliver the product roadmap.
The hype is over as one of the most anticipated features of the $BURP ecosystem is now being announced: $BURP staking!
This feature is expected to be live from Monday August 9th at 1PM UTC. You will be able to access this feature immediately after launch.
What this means for $BURP
The new staking feature will allow holders to earn on their holdings by generating an attractive APY (Annual Percentage Yield) paid in $BURP through simply staking their $BURP. The benefit to users will be in allowing them to earn a passive income on their $BURP holdings. Through staking $BURP, you are then eligible to win exclusive NFTs from selected partners including The Sandbox, Avastars, NFT Boxes, Polkamon, Ethermon, ChainGuardians, CryptoProphecies and more.
One of the most attractive features of the $BURP staking mechanism is the ability to increase the individual APY for a stake not only through the length, but also through staking the NFTs generated as a reward, each increasing the multiplier of the stake according to their rarity, detailed in the table below.
The NFTs will be of varying rarity and split across categories such as: Common, Uncommon, Rare, Epic and the coveted Legendary. The NFTs will be minted and distributed via a monthly raffle system which will allow any stakers in the non-custodial wallet to be automatically registered to enter and be in with a chance of winning. The more $BURP users have staked, the more raffle tickets they get. 👀
Full details about the way staking works on a technical level, the APY, the stake length, multipliers and how the NFT raffle rewards users with exclusive NFTs will be published immediately after the launch — make sure to join the $BURP social communities below to remain updated!
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$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.