WagyuSwap’s $WAG Staking Lets Users Earn Their Favorite Crypto Assets via The Great Steak

December 1, 2021

Over the next years, there will be significant shifts in cryptocurrency staking. WagyuSwap a decentralized, Velas-based exchange with native staking support is one example. Holders of $WAG tokens will earn different types of rewards through “The Great Steak” – an industry first.

Appealing High-Stake APYs

If users want to secure their favorite crypto assets they will do so in a way that maximizes their return. The industry average is 10.44%. There are solid reasons to look into currencies that support proof-of-stake. Other options include using staking platform that provides similar functionality to multiple currencies even though it might result in lower earnings.

External providers with higher APY are often the best. Exchanges are popular because they allow users to keep their cryptocurrency there. Coinbase and Binance are popular options on the “ease of use” front, even if their APY might not be the highest. However, an APY of up to 120% through a DeFi platform like SWAPP Protocol is hard to pass upon – But the dangers are, of course, fluctuation and untrustworthy platforms with no history.

There is always room for improvement and new ideas in cryptocurrency staking. The WagyuSwap team has, after bringing the first DEX to Velas, introduced “The Great Steak.” It is in line with the exchange’s overall theme and changes the game on how to reward $WAG stakers. Hot market coins will become available to users, setting a new standard in the industry.

What’s the Great Steak?

The Great Steak allows users to stake $WAG tokens in order to earn $SCAR. This native token is part of the Metaverse eco-system Velhalla.

First step for $WAG investors is the $SCAR reward. The future rewards will also include tokens from successful IDOs. This includes VelasPad TRONpad and BSCPad as well as BitOrbit. Wagyuswap offers different incentives to help users diversify their portfolios and attract new customers.

You can reap the rewards from several successful Velas-related projects. This makes perfect sense as WagyuSwap is based on the Velas blockchain. This year has seen dozens of Velas projects explore this technology stack. The network offers high transaction throughput and very low fees. Solidity support is also available. The Velas Grants Program offers developers $100 Million in grants for innovative projects.

Closing Thoughts

WagyuSwap’s Big Steak will be available for future use. It is a new concept in the industry to have staking rewards rotated. The team plans to support many prominent tokens in future. This simple, yet powerful way of changing staking rewards is fascinating.

This is a great opportunity to shine a spotlight upon the Velas community. It’s the only cryptocurrency to have a multiasset staking reward program, and one that we will certainly be watching in the months ahead.

Get more Crypto News at CFX Magazine