Staking Rewards
This page covers staking and its rewards
Importance of staking in Mooncake Bets
Mooncake Bets has integrated a rewarding mechanism for $MCAKE token holders, especially prioritizing those who decide to stake their tokens. A fraction of Mooncake Bets' profits are directed daily towards buying $MCAKE from the open market through a decentralized exchange (DEX). Of the procured $MCAKE tokens:
40% undergo a burn process, introducing a deflationary aspect to $MCAKE.
The other 60% is reinvested into the platform to distribute rewards and ensure the robustness of the Mooncake Bets ecosystem.
Staking serves as an influential tool to incentivize prolonged holding and active participation within the Mooncake Bets ecosystem. For the platform, staking $MCAKE contributes to token stability and cultivates a sense of belonging within the community. Furthermore, it offers stakers an avenue to earn passive rewards, enhancing the perks of being an integral member of the Mooncake Bets family.
Staking tiers and benefits
What is Staking?
Staking entails committing a designated amount of $MCB within the Mooncake Bets platform for a specified duration. In reciprocation, stakers are rewarded with supplementary $MCAKE tokens, effectively earning an ROI on their staked sum.
Why Stake $MCAKE?
Benefits of staking include:
Passive Rewards: Opportunity to earn additional $MCAKE tokens.
Exclusive Platform Perks: Stakers are often given priority with bonuses, promotions, or exclusive game access.
Strengthening the Ecosystem: Staking temporarily reduces the circulating token supply, which can boost token price stability and foster growth.
Calculating rewards for stakers
Rewards are computed based on the quantity of staked tokens and the length of the staking period. Stakers can claim their rewards at their convenience through the Mooncake Bets platform. These rewards can be either utilized within the casino, restaked for compounding benefits, or transferred to personal wallets.
Multiple Purchases & Staking
Upon purchasing and instantaneously staking your $MCAKE, any subsequent purchases will result in the automatic claiming of your previously earned staking rewards to your wallet. If you desire to stake these newfound rewards, you'll need to action this through our dedicated staking page on Mooncake Bets.
Staking Locking Period
During promotional or presale events, any staked tokens are secured in the staking contract until a predetermined date, ensuring the platform's stability. However, the rewards garnered during this period are claimable at any given time. These can be consumed within the casino, saved in a personal wallet, or even restaked to maximize returns.
Withdrawal and claim process for stakers
Safety and Reliability
Smart Contract Commitment: Staking operations are managed via smart contracts, promising transparency and protection against unauthorized actions.
Routine Audits: To assure the staking contract's integrity and safety, periodic reviews are conducted.
Guaranteed Withdrawals: Even though tokens remain locked during the staking tenure, stakers can confidently expect to retrieve their initial stake along with the accumulated rewards upon completion.
Strengthening Ecosystem Participation:
Staking $MCB additionally avails members to
Priority Access: Stakers might be offered early access to fresh games, features, or special events.
Community Appreciation: Celebrating top stakers can spur healthy competition and bolster user engagement.
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