PolkaCover Staking: Partnership with Ferrum Network
Hey Polkacover Fam!
The day has finally come, we will be releasing our staking programme in collaboration with Ferrum network on the 1st of February at 16:00 UTC.
And this is why we would like to provide critical information on the CVR staking program
Why introduce Staking?
Staking helps incentivize early buyers of CVR tokens to lock their tokens and earn high yields based on the length of time staked. It’s like a decentralized high-yield bank account, with maximum customization for projects and flexibility for participants!
What is Ferrum Network?
Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption. Ferrum’s Staking-as-a-Service is now used by nearly 50 projects with $15 million TVL.
Ferrum’s non-custodial UniFyre Wallet has already revolutionized the way people send crypto with its “Link Drop” technology.
Requirements for Staking
Here are the requirements to be aware of.
Metamask: CVR Staking requires the ERC-20 wallet extension Metamask, which will automatically link to our staking contracts. This is the wallet you will contribute from and where rewards will be distributed upon withdrawal.
ENSURE YOU CONNECT WITH THE CORRECT CONTRACT
Etherscan address is as below:
Contract address is as below:
For assistance on setting up a Metamask, please contact the Metamask team directly.
CVR Staking has some unique features such as early withdrawal and rewards for full maturity.
Polkacover Staking will provide some unique features such as early withdrawal
Limited Time to Contribute
Once the staking pools are opened, you will be given a limited amount of time to contribute. After the time expires OR the contract is full, contributions will close forever. A progress bar will show how much the contract has been filled at any given time
Stake until full maturity to receive maximum rewards. Maturity will have a date and time assigned at which time full rewards will be available for withdrawal, so you will know exactly when you can withdraw to receive the maximum rewards.
Polkacover Staking offers an early withdrawal option for flexibility. Early withdrawal will have a date and time assigned so you will know exactly when you can withdraw early.
The Staking Pools:
There will be three staking pools: Gold (short), Platinum (medium) and VIP (long), each with different terms.
Next we will release CVR Staking website with a countdown until the staking pools open. We will also release a step-by-step guide explaining how to stake.
Then we will open up the staking pools for the contribution!
Polkacover social media links: