Token and LP Staking
LP Staking - We have developed a liquidity staking dapp. This will enable the community to support the liquidity at Pancakeswap and at same time earn Talkado coin by staking the LP token at the Talkado LP staking dapp.
Liquidity Staking is the process of staking the liquidity you add to the Pancakeswap pools (either BNB pool or USDT pool) and earning TLOT as reward in return.
The Legend Of Talkado Coin Staking - Talkado Coin holders will be able to stake their coin and earn more TLOT as a reward. The Legend Of Talkado dev team is currently working on the Talkado LP Staking dapp platform to extend it to Token staking. The version2 of the Talkado staking platform will be released and it will future the LP Staking and Talkado Coin Staking.
Crypto staking involves "locking up" a portion of your cryptocurrency for a period of time as a way of contributing to a blockchain network. In exchange, stakers can earn rewards, typically in the form of additional coins or tokens (According to Business Insider)
The beauty of both the LP and TLOT Staking is that it will help to reduce the circulatory supply and encourage holding of the coin. This is good for the project and mostly beneficial to stakers as they will get rewards for supporting liquidity and holding their TLOT Coin.
How to use lp staking dapp
The Steps are outlined below :
- Connect your wallet
- Input the amount of LP to stake
- Select 'LOCK' Period
- Select 'STAKE' button
- Confirm transaction in your wallet