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What is $WSKY?
$WSKY is the official token of WhiskyGenius that can be used to purchase products on the platform and grants holders access to exclusive discounts and experiences in real life and the metaverse. The WSKY token will be issued as a security in the US under the RegCF listing, meaning that token holders will be able to receive platform dividends, supply as collateral, and earn yields through staking.
Staking 101
What is Staking?
What is Staking?
Staking has become a popular way for crypto holders and DeFi participants to grow their holdings without having to sell or lend out their digital assets. Staking allows for people to passibly earn rewards for keeping their assets off the market and not trading, and for doing so they earn more tokens.
Get Rewards For Staking $WSKY
Staking $WSKY tokens is a low effort and sustainable way of earning yield on your tokens. If you are holding $WSKY tokens in your wallet, consider staking them to increase your holdings, as well as gain access to exclsuive drops andmore!
How Does $WSKY Staking Work?
How Does $WSKY Staking Work?
When staking your WSKY token on the WhiskyGenius platform, you are placing those tokens into a non-custodial smart contract, which is giving out rewards in the form of additional WSKY tokens on a per block basis. Being non-custodial, it means that staking participants have control of their WSKY tokens at all time and are able to unstake and stop earning rewards at any point in time as they choose. The longer you stake, the more rewards you passively earn every day!
How Are Staking Rewards Calculated?
How Are Staking Rewards Calculated?
WSKY token staking is offered as a variable rate staking pool, which means that the rewards and interest, or Annual Percentage Yield (APY), changes based on the number of token that are being staked at any given time. Every month there will be a fixed amount of WSKY tokens that will be placed into the staking pool, and depending on the number of stakers and how many WSKY tokens they have locked up and staking, will determine the APY that you are earning. You will be able to see at any given time what the APY currently is on the staking pool.