A few hours ago Pornvisory launched its staking programme for PVY tokens.
This type of staking is actually, in technical terms, liquidity mining, which involves users getting rewarded by placing tokens in a pool on Uniswap.
This means, as is common in the DeFi world, that to receive a reward it is necessary to lock both PVY tokens and their equivalent in another crypto which can be Ethereum (ETH), for example.
The rewards are, as anticipated in the previous our Medium post.
- Staking for 3 months: 10% reward;
- Staking for 6 months: 20% reward;
- Staking for 9 months: 30% reward;
- Staking for 12 months: 50% reward.
The reward is in PVY token. The minimum amount that can be staked is 100 PVY. These are certainly quite high rewards compared to the average.
Example: if you stake 100 PVY for 12 months you will get 50 new PVY tokens, becoming 150 tokens in total.
The reward is redeemable every week.
For each reward range (3,6,9 months or 1 year) you can stake a maximum of 100 thousand PVY at a time.
There will never be more than 100 thousand tokens in stake all together. 100 thousand is to be considered as the sum of all the tokens put in stake by different addresss/users.
N.B. The stake is not influenced by the price. The percentages are based on the amount of tokens staked and not on their price.
How to stake your PVY: a step-by-step guide
Below there is a brief guide on how to participate in PVY liquidity mining.
First of all you have to make sure that you have Metamask with PVY and Ethereum tokens inside.
Then you have to go to dapp.dfohub.com, log in with your Metamask and click on Pornvisory in the list of the various DFOs.
Once on Pornvisory, click on the top menu on “DeFi” and then click on “Farming”.
Here are the next steps:
1. Choose the period during which you want to stake your tokens: 3 months, 6 months, 9 months or 1 year;
2. Click on the “Stake” button of the respective chosen period;
3. Enter the amount to stake, both PVY and select Ethereum;
4. Check that the selected staking period is correct;
5. Click on “Approve” to confirm the transaction and move the tokens;
6. Perform the transaction by clicking on “Stake”;
7. Wait for the transaction to be confirmed.
And that’s it! Your tokens are in stake!!