What 5 innovations are coming to the newest version of NFT & Token Staking?

Introduction

Prepare to witness a revolution in DeFi and NFT staking with the Earn Network. We're introducing a groundbreaking self-service platform that allows users to take the reins in creating and managing staking pools, complemented by the novel concept of third-party rewards.

This update is designed to foster a deeper level of engagement and reward within the community, paving the way for a staking ecosystem that's more dynamic, flexible and user-centric.

As Earn Network gears up for this launch, we're setting new standards for how communities and creators can work together in the world of digital finance.

1. Self-service and full management of your staking pool

In the next update to Earn Network's Staking offerings, users will be able to experience unparalleled autonomy and control over their NFT staking pools.

Through the innovative Creators Lab, pool creators will effortlessly manage every aspect of their pools, from inception to distribution of rewards. The platform offers flexibility to select the chain and token type, define the reward parameters and establish penalties for early unstaking.

This level of detail extends to viewing comprehensive stats on pool performance, enabling creators to make informed decisions to optimize their pools.

2. Contribution of third party rewards as a new, innovative advertising model brought to web3 staking

Addressing the challenges of acquiring quality users in the Web3 space, the Earn Network announces a groundbreaking solution: the contribution of third-party rewards to existing staking pools.

This model allows projects to offer their tokens as additional rewards, targeting an already engaged audience with genuine interest and investment in the ecosystem.

Unlike traditional airdrops that often attract bots and passive participants, this method ensures that rewards reach actual users with a vested interest in staking, thereby providing projects with valuable exposure and direct access to a relevant audience.

After providing rewards, users could access the Creators Lab and track the performance of the pool to get insights about how many people claim the supplied rewards.

3. Cross-chain rewarding to maximize the value of your pool's token

With the introduction of cross-chain rewards, the Earn Network takes a significant step towards bridging the gap between different blockchain ecosystems. Projects could enhance the attractiveness of their staking pools by adding diverse rewards from various chains, increasing the utility and appeal of participating in staking.

This not only expands the earning potential for stakers, but also integrates the broader blockchain community, facilitating a more cohesive and rewarding DeFi experience.

4. Over 18 blockchains supported

The commitment to inclusivity and versatility is further exemplified by the platform's support for pool creation on more than 18 blockchains. This extensive support ensures that projects from a wide range of ecosystems can create staking pools, offering their communities innovative ways to earn rewards.

By accommodating a broad spectrum of blockchains, the Earn Network fosters a diverse staking environment, welcoming users from various backgrounds and preferences.

5. Ability to create a staking pool for your ERC-721 and ERC-1155 NFTs

The upcoming feature set extends the Earn Network's capabilities to include and allow users to create pools and stake their NFTs regardless if they're ERC-721 or ERC-1155.

This addition not only diversifies the types of assets that can earn rewards, but also enhances the value and utility of NFT collections within the Earn Network ecosystem. By providing extra rewards in the form of NFTs, projects could leverage and automize the giveaway campaigns, ensuring that only engaged users will participate.

Summary

The upcoming update to the Earn Network is more than just a technological advancement; it's a step towards a more empowered and connected digital asset community.

By offering users the ability to create and manage their staking pools, we're creating a platform that values innovation and flexibility. This evolution of the Earn Network is set to redefine what it means to participate in DeFi and NFT staking, ensuring our platform remains a leading destination for those looking to enhance their decentralized staking experience.