Each experienced investor staying on the lookout for juicy investment opportunities always does their due diligence prior to engaging in any sort of investment. The following is a detailed explanation of the mechanics of staking and the benefits it brings to each UpLifter. Staking is another opportunity for you to earn on our platform by temporarily locking up a particular amount of tokens to receive yield as well as increase your Staking Power that allows for a participation in the upcoming IDOs.
Staking is one of the ways you can make your LIFT token supply work for you.
A lifeblood of our platform, staking is your ultimate gateway to the most sought-after earning opportunities to receive staking yield rewards, get bonuses for promotional activities, as well as to participate in strong IDOs.
As an UpLifter, you are entitled to numerous rights and it is primarily through staking that you can exercise them. Read on to learn everything you need to know about one of the sure-fire ways we can evolve together as a community and individually through staking.
Ready, steady..STAKE!
We see each UpLifter as a caring gardener planting tree sprouts that will grow bearing amazing fruit. In fact, staking and raising crops are a lot alike. The earlier one plants the seeds — the likelier they are to get early crops; the more seeds get planted — the better are the chances of harvesting rich rewards. Pretty much the same principles apply when you stake LIFT tokens, except that you get not only yield in return, but also activity bonuses in the form of boosters. On UpLift no endeavour will go unnoticed and each contributor will get their fair share of yield and rewards as we grow together our wonderful garden in the wilderness of DeFi.
Boosters increase your staking yield as well as bring higher chances to get IDO allocation (we will provide a detailed description of the mechanics of it down below). They are awarded based on the amount of LIFT tokens staked, the lock-up period, and the referral activities you engage in.
Here is a comprehensive list of all booster types:
Tier booster is a reward multiplier based on the amount of LIFT tokens you pledge. The reward percentage increases proportionately to the amount staked.
Lockup booster is a reward multiplier based on the time a person locks their stake. UpLift platform is about long-term investment that yields consistent dividends to those who show commitment and dedication.
Referee booster of 1% is awarded to those who use the referral link to join in.
Referrer booster allows you to claim referral rewards of 5% of each of your referees’ tier and lockup boosters. The maximum of 20% of rewards is allowed.
Earn by Participating in Referral Programs
Spread the word and receive immediate rewards by engaging in referral activities.
In order to qualify for a referrer you need to:
hold an equivalent of 100 USDC in LIFT tokens
pass the KYC
Another set of requirements applies when you want to receive a referee bonus:
you must have a qualified referrer (they need to meet the requirements listed above)
pass the KYC
Please keep in mind that you can not act as your own referrer.
Put Your Staking Power to Work — Win an IDO Allocation
Manage your LIFT assets strategically
Once you become a member of UpLift DAO, various earning opportunities instantly come your way. Staking Power allows for participation in project IDOs. Accumulating Staking Power is a sure-fire way to strategically manage your LIFT token supply to gain the most benefits. Staking Power allows you to participate in the IDOs with better chances of winning the lottery and earning a higher allocation. It is generated for locking up tokens in a staking contract for at least 7 days.
Get a feel of how your Staking Power grows, bringing about a myriad of earning opportunities this platform has to offer.
Your Staking Power starts to accumulate right in the moment you lock up a particular token amount. After a period of seven days you can already claim your Staking Power to utilize it when participating in IDO events. The instance of Staking Power is calculated by multiplying the amount staked by boosters earned as shown in the example below:
When an UpLifter stakes 100 LIFT tokens and gets 1% booster, they become eligible for 100 * (100% + 1%) = 101 Staking Power after keeping the tokens staked for 7 days.
An important note: Staking Power is burned when a person unstakes their stake.
An instance of Staking Power amounts to a particular number of lottery tickets, therefore the more Staking Power you have — the higher are your chances to get more lottery tickets. Consequently, the more lottery tickets you receive — the greater is the likelihood of you getting the desired IDO’s allocation.
Staking allows users to generate yield and grants access to the most disruptive projects in the DeFi at their seed stage. Boost your income and stay alert for exciting investment opportunities with UpLift.
The time to stake is NOW!
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