Triple APY for New ORBS Stakers

Eddy Kim
Eddy Kim

|

7 months ago

blog

Orbs has received increased attention from the broader web3 ecosystem in October and has seen a significant rise in participation. Among other things, the ORBS token has been listed on over 20 exchanges, including venues like Binance and Bybit. This has helped the community grow. As the Orbs community has grown, so has interest in participating in staking. The Orbs project is decentralized and community-based, valuing community and core web3 values.   One way to solidify the long-term engagement of new community members is to encourage them to take an active part in the work of securing and operating the Orbs Network's technology by participating in the Orbs Proof-of-Stake Universe. To welcome and encourage new community members to participate, the Orbs community approved a governance vote to introduce the Orbs triple APY event for new stake.

Event details

All NEW Orbs tokens staked in November and December 2023 will receive additional rewards.

⏰ Event period: ~ 31th Dec 2023 

🏆 Additional APY
Triple: All new Orbs tokens staked during November 2023, will get triple rewards during the promotion

Double: All new Orbs tokens staked in December 2023 will get double rewards during the promotion

🌐 Network: Ethereum and Polygon

❓ How to participate: Staking using the Tetra Staking Wallet

Example

Alice stakes 5M Orbs before November 1st and then added 2M Orbs on Nov 15th, and added another 1M Orbs on 3rd Dec.
The 5M Orbs Alice staked before the event (November 1st), is not eligible.
For the 2M Orbs staked on Nov 15th, Alice will get triple APY during 1st ~ 30th Nov.

For the 1M Orbs staked on 3rd Dec, Alice gets double APY during 1st ~ 31th Dec

Things to note

  • Only Orbs additional staked during Nov and Dec 23 are eligible 

  • If the newly staked tokens are unlocked before reward distribution, no reward will be given

  • The additional rewards will be distributed before the end of Jan 2024

About Orbs PoS Universe

Since Orbs launched in 2019, The Orbs Proof-of-Stake (PoS) Universe has been the backbone of
the Orbs network and the ecosystem created. Generally, users can participate in the ecosystem by staking
ORBS tokens in smart contracts using TETRA, the official web-based Orbs staking wallet dApp.

TETRA is the official ORBS staking dApp, providing connectivity to the entire POS network.
To stake Orbs, it is recommended that users use a PC's web browser or alternatively, if using mobile, the embedded dApp browser. 

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