November 1st, 2021 — The team at Bondly have been working on a number of projects behind the scenes, including our Staking Portal. We are happy to announce that the platform is now live! You can visit the platform at: https://staking.bondly.finance/
This platform offers competitive APY% rates and additional benefits for stakers of $BONDLY, while also offering opportunities to participate in pre-sales and promotions on our upcoming, upgraded, launchpad platform.
In addition to standard $BONDLY staking pools, our platform will feature partner pools where users will be able to stake $BONDLY to earn tokens from some of the best blockchain projects in the crypto space. More details to be announced soon.
Read on for a deeper dive into the platform, and what it means for our $BONDLY token holders.
Explanation of Native Staking and Benefits
Current holders of $BONDLY have the option of staking their tokens in a number of pools for an attractive yield. Our new, native staking platform takes those rewards to the next level by introducing xBONDLY. The xBONDLY token is an ERC-20 proof-of-stake token that is earned by staking $BONDLY in our native pools.
The amount of xBONDLY you receive for staking your $BONDLY remains constant in a nominal amount. As more members enter our native staking pool, the ratio of xBONDLY to $BONDLY will continue to evolve so that 1 xBONDLY token will equal more and more $BONDLY.
When you do decide to unstake your $BONDLY, your xBONDLY is returned while the original amount of $BONDLY you staked is returned to you, plus any rewards accrued in the form of $BONDLY. Over time, this increases the value of xBONDLY when compared to $BONDLY.
Note:
- The $BONDLY : xBONDLY ratio increases over time as rewards are provided to the pool.
Rewards are distributed per block, which are minted every 13 seconds on average. Those rewards are allocated based on the amount of $BONDLY tokens a user has staked in the pool proportional to the users share of the total amount staked in the pool.
Tokens in our native pool will not be locked and individuals who stake with us can withdraw their $BONDLY and rewards at any time.
How do I Participate in the Native Staking Pool?
- To take part in our native pool, just visit https://staking.bondly.finance/ and click “Connect your wallet”.
2. You will then see our “$BONDLY Staking Pool” with a field to input how much $BONDLY you would like to stake.
3. Enter the amount of $BONDLY being staked here and click “Stake”.
4. Approve the contract within your wallet and then confirm the amount of $BONDLY you will be staking. If successful, you should receive a “Congratulations” message.
5. You are now successfully staked in our native $BONDLY pool!
6. To unstake, simply connect your wallet again, enter the amount of xBONDLY you would like to burn to unstake your $BONDLY and click “Unstake”. Your xBONDLY will then be returned and you will receive the original amount of $BONDLY you deposited in addition to any rewards earned, which will also be in the form of $BONDLY.
You can also view the following video from our team for a step-by-step guide on how to join our native staking pool:
More Rewards to Come With Partner Staking Pools!
In addition to our standard staking pool, our team is pleased to announce that we will be offering native staking pools for some of our biggest partners. Holders of $BONDLY will be able to stake their tokens in our partner pools to earn rewards in the form of tokens from participating projects. Users will not earn $BONDLY rewards when staking in partner pools.
Partner pools will have expiry dates, where participants will no longer receive rewards for the tokens they have staked. Each partner pool will be different, so expiry dates will vary as well as APR%.
More information about participating partners will be announced soon!
About Bondly
Bondly is at the forefront of bringing authenticated, digital-first goods to the market in music, entertainment, gaming and collectibles with a suite of products and services designed to support the entire blockchain ecosystem.
