PolkaRare is very excited to announce the PRARE staking program in partnership with Ferrum Network.
This partnership will empower PolkaRare to offer multiple staking programs leveraging Ferrum’s infrastructure and platform.
Holders of PRARE tokens will now be able to stake their tokens and generate passive income. All you will need to do is stake your $PRARE and help in network operation.
But first, let us quickly grasp what staking APY (Annual Percentage Yield) means. APY indicates the rewards that you will receive for a staking duration of one full year.
To calculate the number of PRARE rewards you will receive at the end of the staking period depends on:
- Staking duration
- The APY
The Structure
You can stake your tokens and earn returns depending on the number of tokens you stake and the time for which you stake them. By staking $PRARE, you can earn a maximum annual percentage yield, or APY, of as much as 90%
Sapphire Pool
- Pool Size: 3,000,000 PRARE
- Minimum PRARE requirement: NONE
- Full Maturity in 90days
- APY at Full Maturity: 90%
- Staking contribution open for 30 days
- Full Maturity at 26/11/2021, 6:30 PM UTC
Staking Steps
- Download and install the Ethereum based web wallet MetaMask if you don’t have it already.
- Add PRARE to your MetaMask.
ERC contract address:0x2C2f7e7C5604D162d75641256b80F1Bf6f4dC796
BSC contract address:0xe6bf0e14e33a469f2b0640b53949a9f90e675135
- Deposit PRARE you want to stake into your MetaMask (plus enough ETH/BNB to pay gas fees)
- Go to our staking website: https://staking.polkarare.com/
- Select the staking pool you wish to contribute to
- After exploring the pool page and you are ready to stake, press “STAKE PRARE”; this will take you to a new page.
- Authorize your MetaMask to be connected to the staking smart contract.
- Read and understand the disclaimer and agree to the terms.
- Input the amount of PRARE you wish to stake.
- Confirm the amount is correct and approve the allocation.
- Metamask will pop up. Allow MetaMask to spend your PRARE (i.e. send your PRARE to the staking contract) and press “confirm”.
- And you are done!
Staking Details
Flexible Early withdrawal
Withdraw early, stake until full maturity, or withdraw somewhere in between. However, leaving early will lead to forfeiting some of the rewards.
Limited Time Period
There is only a limited time period to contribute to the staking pools (10 days or until the pool is full). The pools are limited in size; therefore, they will be selected on a first-come, first-served basis.
Staking Structures
We have put both rewarding and sustainable staking structures with two different pools, representing different time lengths and APYs. You may stake in more than one pool at the same time.
About PolkaRare
PolkaRare is a web3 economy that supports unique and precious digital assets. It is a multichain NFT marketplace powered by Polkadot, Polygon, Ethereum, and Binance Smart Chain. Its native token, PRARE, is a governance token that can be used as staking rewards, a medium of exchange, and for NFT farming. Polkarare will be a platform to showcase rare NFT collections which include licensed art, music, and sports cards.
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