We’re pleased to share that ‘Loaded Lions’ NFT holders can now enjoy exclusive on-chain Staking perks in the Crypto.com App, as part of our commitment to offer you unique benefits within the Crypto.com ecosystem.
In November and December, you can enjoy an additional APR of up to 1.5% on top of the existing reward rates across the seven supported on-chain Staking tokens in the Crypto.com App.
What is on-chain Staking?
On-chain Staking allows users to participate in a particular Proof of Stake (PoS) blockchain by locking up their tokens and helping to secure the network. Usually, stakers join staking pools run by validators. They help verify transactions and add them to the network. In return, these validators receive rewards in the form of newly minted tokens. Validators may then proportionally distribute the rewards to stakers after deducting fees.
Benefits of on-chain Staking
Staking in the Crypto.com App allows users to conveniently and securely put their idle assets to work while receiving rewards that are in line with the protocol reward distribution. Furthermore, users also enjoy the flexibility of staking or unstaking their assets at any time, as Crypto.com does not impose a lockup period**.
Mane Netizen Exclusive Staking Promotion
For a limited time only, ‘Loaded Lions’ NFT holders enjoy bonus APR for eligible tokens that are staked during the Staking Period*. The bonus rewards will be based on the staked amount during the Reward Period (including increases and decreases during this period). The staked amount must be in “Staked” status to start generating rewards**. Rewards will be distributed to users as a lump sum within 60 days after the Campaign Period end date.
- Staking Period: 1 November 2023, 00:00 UTC – 15 December 2023, 23:59 UTC
- Reward Period: 16 November 2023, 00:00 UTC – 15 December 2023, 23:59 UTC
- Supported on-chain Staking tokens^: CRO, DOT, ETH, SOL, MATIC, ADA, and AVAX
- Estimated Bonus APR: up to 1.5% p.a. (varies according to token; refer to T&Cs for calculation details)
- Snapshot Date: 1 November 2023, 0:00 UTC and a second snapshot will be taken at random; you should hold a ‘Loaded Lions’ NFT on Crypto.com NFT for the duration of the Staking Period
Example:
If a ‘Loaded Lions’ NFT holder has 100 ETH staked at 31 Oct 23:59, and 120 ETH staked at 15 Nov 2023 23:59 and maintained until 9 Dec 23:59, then their qualifying amount for the bonus rewards is 20 ETH from 16 Nov 00:00 to 9 Dec 23:59, and the rewards will be distributed within 60 days from 15 Dec.
*Only new stakes made during the Staking Period are eligible for this offer.
**Bonus rewards are only eligible for assets in “Staked” status. The “activation phase” prior to the “Staked” status varies according to the token. Stake early to enjoy bonus rewards during the Reward Period. Learn more about Token Staking Phases and Terms in the FAQ.
Get started with on-chain Staking in the Crypto.com App
- Download/launch the Crypto.com App and go to Staking
- Select the token you wish to stake on-chain
- Review your stake’s details and confirm it to start earning rewards
^The jurisdictions below are not eligible for this campaign: The United States of America and its territories, Canada, Hong Kong SAR, South Korea, Singapore, Thailand, and Malta (ETH & AVAX are not available in Australia). For more information, refer to Section 3 and 6 of the FAQ.
Important notes:
- The Loaded Lions NFT holders who stake eligible tokens during the Staking Period and maintain the staking amount (includes any increases or decreases) during the Reward Period are entitled to up to 1.5% additional APR during the 30 days Reward Period. Only the amount staked during the Reward Period is qualified for the boosted reward (i.e. if you have 100 ETH staked at 31 Oct 23:59, and 120 ETH staked at 15 Nov 2023 23:59, your qualified amount is 20 ETH). The reward will be distributed to users within 60 days after the Campaign Period end date.
- The reward boost will only be applicable for Assets under ‘Staked’ status. There is an activation period after a token is staked (users will see ‘Activating’ in the App for their staked amount). This period varies depending on the network type and network conditions (Reference), and tokens will only start generating rewards when the status becomes ‘Staked’. We suggest users staking earlier during the Staking Period to ensure they can receive boosted rewards during the full Reward Period.
- The rewards will be calculated daily if the user increases/decreases their staking balance during the Reward Period. If the Recipient increases and decreases their stake during the Reward Period, their reward over the rest of the Reward Period will be calculated according to the new activated staked balance.
- Two snapshots will be taken to verify the holder’s Loaded Lion NFT ownership. The first snapshot will be taken on 1 November, and the second snapshot during the campaign period. Only users who hold a ‘Loaded Lions’ NFT on Crypto.com NFT at both Snapshot times will be eligible to receive their bonus rewards.
- Staking is subject to jurisdiction restrictions. Please refer to Section 3 and 6 of the FAQ for details.
- We will email users their eligibility and boosted earnings after the Campaign Period ends.
- The Reward will be distributed to the Recipients’ App Crypto Wallet within 60 days after the campaign period ends
- Supported blockchains may independently impose minimum bonding or unbonding periods. You will stop earning rewards during any unbonding period imposed by the protocol if you choose to unstake your assets.
- By participating in the Campaign, participants acknowledge they have read the Crypto.com Global Marketing Privacy Notice, which is published at https://crypto.com/privacy/marketing and understand that Crypto.com will use the information provided for the purposes of identity verification, assessing the participant’s eligibility to participate in the Campaign, and reward redemption.
Terms and conditions apply.
